Overview
Retentions Consultant Jobs in Johannesburg at Sanlam
Who are we?
Sanlam Developing Markets [SDM] (a wholly-owned subsidiary of Sanlam Life Limited) is one of the top financial services providers in the South African entry-level and emerging middle market. It aims to understand the unique requirements of clients and offers a wide range of simple and affordable financial solutions that cover needs such as funeral insurance, savings for education, life cover and personal accident plans. In terms of the Sanlam Group Governance Policy, SDM is managed by the SA Retail Mass cluster, which is part of the Sanlam Life and Savings cluster within the Sanlam Group. The cluster focusses on retail products, as well as group schemes.
What will you do?
The Retentions Consultant plays a crucial role in retaining existing policyholders who are at risk of cancelling or lapsing their life insurance policies. This role involves making outbound calls to policyholders, handling inbound cancellation related calls, understanding their needs and concerns, and offering tailored solutions to retain them within the company. The consultant must demonstrate excellent communication skills, empathy, and the ability to handle objections effectively.
Key Duties and Responsibilities
Outbound Calls: Initiate outbound calls to policyholders whose policies are at risk of cancellation or lapsing.
Customer Interaction: Establish rapport with policyholders, express empathy, and actively listen to their concerns.
Objection Handling: Address policyholder objections and concerns, providing well-informed responses and solutions.
Retention Solutions: Present retention solutions, promotions, and alternatives tailored to the policyholder’s needs.
Product Knowledge: Maintain in-depth knowledge of the company’s products, benefits, and features.
Customized Solutions: Tailor retention offers to match each policyholder’s specific needs and preferences.
Closing Deals: Secure policyholder commitment to the retention offer and facilitate the necessary paperwork.
Documentation: Accurately document all interactions and decisions made during the retention process.
Quality Assurance: Ensure high-quality customer service and adherence to company policies and industry regulations.
KPI Monitoring: Consistently meet or exceed Key Performance Indicators (KPIs) to achieve retention goals.
Feedback and Continuous Improvement: Provide feedback on common objections and challenges to improve the retention process.
What will make you successful in this role?
Qualification & experience
At least 2 years of experience in a client service or sales environment
Product Knowledge: In-depth understanding of life insurance products and their benefits. Strong funeral and life insurance product knowledge
RE5 (compulsory)
Matric
Competencies
Excellent Communication Skills: Strong verbal and written communication abilities to interact effectively with policyholders. Abilities to interact in local languages is an advantage.
Empathy: Demonstrate empathy and active listening to understand and address policyholder concerns.
Objection Handling: Proven ability to handle objections and turn them into opportunities for retention.
Customer-Centric: A customer-focused approach with a commitment to delivering high-quality service.
Sales Skills: Strong persuasion and negotiation skills to close retention deals.
Adaptability: Ability to adapt to changing customer needs and industry regulations.
Detail-Oriented: Attention to detail to ensure accurate documentation and compliance.
Resilience: Ability to handle pressure, rejection and stay motivated during challenging interactions.
Team Player: Work effectively in a team and collaborate with colleagues and supervisors.
Core Competencies
Flexible and Adaptable
Cultivates Innovation
Client Focus
Drives results
Collaborates
Behavioural Competencies
Organisational savvy
Manages complexity
Plans and aligns
Optimises work processes
Build a successful career with us
We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.
Turnaround time
The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.
Our commitment to transformation
The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group’s Employment Equity plan and targets will be considered as part of the selection process.
Title: Retentions Consultant
Company: Sanlam
Location: Johannesburg
