Business Development Manager – Insurance Broker

ABOUT THIS POSITION
The New Business Development Manager primarily focuses on identifying potential clients, presenting them with suitable product proposals, and confirming policy sales.
He/she must build relationships with clients to ensure retention of business and facilitate new business. An extensive knowledge of products and providers is necessary. The New Business Development Manager is responsible for complete and accurate administration related to all policies and clients.

Responsibilities:

• Develop and execute business development plans that grow the firm’s insurance brokerage business.
• Lead and coordinate contract negotiations, which includes but is not restricted to policy terms and costs for a successful sealing of the partnership and/or sale.
• Conduct thorough needs analysis and assessment for potential clients to understand their insurance requirements and provide tailored solutions.
• Establish and nurture relationships with key stakeholders including insurance carriers, industry associations, and referral partners to expand our network and generate referrals.
• Track and report on business development activities, pipeline progress, and key performance indicators to senior management.
• Collaborate with cross-functional teams, including sales, marketing, and product development, to align business development efforts with overall company objectives.
• Monitor industry developments and stay updated on market dynamics to identify and qualify new business opportunities.

Qualifications and Experience:

• Strong understanding of insurance market dynamics, industry trends, and regulatory requirements.
• 3-5+ years of experience in the insurance industry or selling insurance to companies.
• Proficient in using insurance management systems and other relevant software.
• Demonstrate ability to communicate, present, and influence key stakeholders at all levels of an organization.
• Intense, strong, disciplined, and self-motivated to execute well in a fast-paced environment.

Educational Qualifications:

• Minimum – Bachelor’s degree in a relevant field.