Business Development Manager
3 weeks ago
Position : Business Development Manager - Corporate Sales
Company : Insurance Broking
Location : Ghansoli - Navi Mumbai, Mylapore - Chennai, and Gurugram
Department: Business Development
Job Objective:
As a Business Development person for all lines of business, you will play a crucial role in increasing our footprint in the market by acquiring new corporate client clients, driving premium and revenue growth, at the same establishing long term mutually beneficial relationships with corporates and insurers.
Your primary responsibility will be to identify, pursue, and secure new corporate accounts while fostering existing client relationships to maximize business via cross-sell and up-sell opportunities.
Key Result Areas (KRAs):
1. Prospecting, Lead Generation and Maintaining a healthy sales pipeline:
● Identify and research potential corporate clients in various industries.
● Create and regularly update a consistent pipeline of qualified leads through market research, networking, and referrals.
2. Client Acquisition:
● Understand clients' insurance needs and provide bespoke solutions.
● Develop and implement effective sales strategies to acquire new corporate clients.
● Conduct presentations and meetings to showcase our insurance products and services.
● Negotiate and finalize corporate insurance contracts and agreements.
3. Relationship Management:
● Build and maintain strong, long-term relationships with corporate prospects, clients and insurers.
● Serve as the primary point of contact and provide an exceptional sales experience.
4. Meet Targets - Revenue Generation:
● Work diligently to achieve the provided targets.
● Regularly monitor their own sales performance and take proactive measures to meet and exceed targets.
● Explore cross-selling and up-selling opportunities within the existing corporate client base.
5. Market Analysis and Competitive Intelligence:
● Stay updated on industry trends, market developments, and competitor activities.
● Use market insights to identify new business opportunities and enhance our product offerings.
6. Reporting and Documentation:
● Maintain accurate records of sales activities, client interactions, and proposals.
● Prepare regular reports on sales performance, forecasts, and market analysis.
7. Team Collaboration:
● Collaborate with internal teams, including underwriting and customer support, to ensure seamless service delivery to corporate clients.
● Provide feedback to product development teams based on client feedback and market needs.
8. Compliance and Ethical Practices:
● Ensure all sales practices adhere to regulatory compliance, industry practice and utmost ethical standards.
● Stay updated on insurance laws and regulations that may impact corporate clients.
Qualifications and Skills :
● Bachelor's or Master's (preferred) degree.
● Strong technical knowledge of various lines of insurance - e.g. Property, Marine, Liability, Employee Benefits etc.
● Excellent communication, negotiation, and presentation skills.
● Result orientation with a razor-sharp focus on meeting and exceeding sales targets.
● Ability to work independently and collectively.
● Knowledge of CRM software and Sales Analytics tools.
● Relevant insurance industry certifications (e.g., AIII, FIII, CII, CPCU) are a plus.
Work Experience
● GI Insurance Corporate Sales Experience min 7-8 years with Insurer/Broker
● Last 3 years or more in a sales leadership role (Applicable for Team Leader position only)
● Needs to know the insurance fraternity (PSU and Private in the geography)
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