Associate Vice President

3 weeks ago

Bengaluru, Karnataka, India Novo Insure Full time
Job Title: AVP – Business Development

Location: Bangalore - Karnataka

Company: Novo Insurance Broking Services Private Limited

CTC: Up to ₹ 12 to ₹ 25 LPA (Based on experience and qualifications)

Industry: Insurance Broking

Department: Business Development / Sales

About the Company

Novo Insurance Broking Services Pvt. Ltd. is a leading IRDAI-licensed insurance broker offering a broad spectrum of insurance solutions across general, life, and health insurance domains. With a focus on delivering customized risk management and advisory services, we help clients navigate the complex insurance landscape effectively.

Position Overview

We are seeking a dynamic and strategic leader to join our team as AVP – Business Development. This is a senior leadership role responsible for driving top-line revenue growth, expanding the client base, and strengthening the company's presence across the insurance broking ecosystem.

Key Responsibilities:

- Strategic Growth & Planning
- Develop and execute the business development strategy aligned with the company's overall objectives.
- Identify new market opportunities and assess potential revenue streams across commercial and retail insurance segments.
- Client Acquisition & Relationship Management
- Acquire and manage high-value corporate clients in sectors like manufacturing, healthcare, logistics, infrastructure, IT, etc.
- Build and maintain strong client relationships to ensure retention and upsell opportunities.
- Partnership Development
- Forge strategic alliances with insurance companies, TPAs, and corporate houses.
- Represent the company in key industry forums and networking events.
- Team Leadership
- Lead and mentor a team of business development professionals.
- Set KPIs, review performance, and ensure high team productivity and motivation.
- Revenue & Target Management
- Achieve defined sales and revenue targets on a monthly/quarterly/yearly basis.
- Monitor sales performance metrics and use insights to optimize strategies.
- Compliance & Reporting
- Ensure all business development activities are compliant with IRDAI and internal regulations.
- Provide regular reports and updates to senior management.

Required Qualifications:

- Bachelor's degree in any discipline (MBA/PGDM preferred)
- Minimum 5+ years of experience in business development/sales in insurance broking
- Proven track record of managing large-ticket clients and closing high-value deals
- Sound understanding of commercial insurance products (Fire, Marine, Engineering, Liability, Group Health, etc.)

Key Skills:

- Strategic thinking and market foresight
- Excellent negotiation and communication skills
- Strong leadership and team management capabilities
- Networking and stakeholder engagement
- High accountability and result orientation

Preferred Certifications:

- IRDAI Broker Certification (if not already obtained, must be willing to get certified)
- Any relevant certifications in insurance or risk management will be a plus

Why Join Novo Insurance?

- Fast-growing and professionally managed organization
- Opportunities to work on marquee clients and high-impact deals
- Collaborative culture with performance-linked growth
- Competitive compensation and incentives

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