Hello… An exciting new opportunity has become available within iTOO. We are looking to recruit a Head of Distribution, across South Africa and selected African Markets.
The Head of Distribution is responsible for leading, managing, and implementing the company’s distribution strategy across South Africa and selected African markets. This includes overseeing the Business Development team, identifying growth opportunities, driving strategic initiatives, and ensuring market expansion across all distribution channels. These include, traditional broker agent, digital, affinity, regions & Africa and relationship suite channels.
The role also involves managing relationships with relevant stake holders, driving sales growth, and developing new distribution channels. The ideal candidate will have a deep understanding of the short-term insurance market, broker management, and business development, with a focus on driving premium growth and market penetration.
Key Responsibilities:
Distribution Strategy & Leadership:
- Develop and implement the company’s distribution strategy, focusing on expanding and optimizing the broker network and sales channels.
- Lead the development of new distribution initiatives to drive growth in key markets across South Africa and Africa.
- Align distribution objectives with the overall business strategy, ensuring sustainable revenue growth.
Business Development Oversight:
- Oversee the Business Development team, ensuring they identify new growth opportunities, including untapped markets and strategic partnerships.
- Collaborate with the Business Development team to implement new initiatives aimed at driving market expansion and securing key accounts.
- Provide leadership and strategic direction to the Business Development team, ensuring alignment with distribution goals.
Broker Relationship Management:
- Build and maintain strong relationships with top-tier brokers, acting as a strategic partner alongside relevant business developers.
- Assist with developing a comprehensive broker engagement strategy, including regular communication, training, and performance incentives.
- Ensure brokers have access to the tools, training and resources necessary to grow the business.
Sales Growth & Market Development:
- Drive new business development by identifying opportunities in existing and new products, distribution channels, and regions.
- Lead the business development team to achieve targeted premium income and market share growth across South Africa and Africa.
- Oversee sales and business development performance metrics, regularly assessing the effectiveness of teams and distribution channels.
Leadership Collaboration & Development:
- Collaborate with the various business leaders across the distribution and business development teams, providing guidance, mentorship, and both formal and informal coaching.
- Ensure yearly career development discussions are held, and Expert Development Plans (EDPs) are in place for all team members. Identify training gaps and implement plans to address them.
- Set targets and implement development plans for team members to ensure optimal performance.
- Foster a high-performance culture within the distribution and business development teams, promoting collaboration, accountability, and growth.
- Ensure that all staff attend relevant training related to their roles and maintain regulatory (e.g., FAIS) compliance.
Product & Market Insight:
- Collaborate with product development teams to ensure insurance products meet market needs and remain competitive.
- Stay informed of industry trends, competitor strategies, and market dynamics.
- Provide insights to internal stakeholders on broker feedback, market demand, and business development opportunities to inform product development and service enhancements.
Financial & Budgetary Oversight:
- Manage the distribution and business development budgets, ensuring expenses align with revenue growth objectives.
- Prepare financial reports and presentations on distribution performance, including market penetration, broker performance, and revenue analysis.
- Identify opportunities to improve cost efficiency across distribution and business development channels without compromising service quality.
Cross-Functional Collaboration:
- Work closely with marketing, underwriting, claims, credit control, partnership teams, African markets, and business development teams to ensure a cohesive approach to distribution.
- Collaborate with relevant teams to ensure the development and integration of platforms like Salesforce to enhance the overall iTOO experience.
- Perform any other duties necessary for the operational effectiveness of the company, as required within your ability and scope.
Compliance & Risk Management:
- Ensure all distribution activities comply with South African and regional regulatory requirements (e.g., FAIS, FICA).
- Work closely with compliance and legal teams to ensure adherence to all regulations.
- Min 10 year’s experience in the short-term insurance industry, 5 of which need to have been in a leadership role
- Min 5 year’s distribution, sales and marketing experience
- 5 year’s in specialist liability insurance experience would be advantageous
- In-depth understanding of the short-term insurance market, particularly the broker-driven distribution model.
- Strong experience in developing and executing distribution and business development strategies within the insurance industry.
- Proven leadership skills with the ability to manage and motivate cross-functional teams.
- Excellent relationship-building skills with the ability to negotiate and influence stakeholders.
- Proficiency in regulatory requirements (e.g., FAIS, TCF) within the short-term insurance sector.
- Ability to take responsibility for personal career growth and create a culture of open communication, trust, and high performance.
Key Competencies
- Strategic and forward-thinking approach to distribution and market expansion.
- Strong communication and negotiation skills.
- Excellent sales and marketing skills.
- Ability to work in a fast-paced, competitive environment.
- Commercially driven, with a focus on achieving business targets.
- Strong analytical skills, with the ability to interpret complex data and market trends.
- Self-management and initiative.
- Strong written and presentation skills.
- Relationship management skills with the ability to engage effectively with different stakeholders.
- Demonstrates common sense, self-motivation, and discipline.
- Well-presented and representative of the iTOO brand and values.
- Career-oriented with the ability to work overtime, attend functions, and deliver presentations.
- Represent the Business Development team on various forums, including cluster executive committees.
- Bachelor’s degree in Business, Insurance, Finance, or a related/ similar field.
- Postgraduate qualification or MBA or insurance-related certifications will be advantageous.
- RE & FAIS Compliance
