Business Development Executive

2 weeks ago

Navi Mumbai, Maharashtra, India HR Yaar Full time

Job Summary:

We are seeking a seasoned Business Development Executive to join our team at HR Yaar. This is an exciting opportunity for a sales professional with a strong background in corporate insurance sales to drive business growth and establish long-term relationships with clients.

About the Role:

The successful candidate will be responsible for identifying, pursuing, and securing new corporate accounts while fostering existing client relationships to maximize business opportunities. Key areas of focus include prospecting, lead generation, client acquisition, relationship management, and revenue generation.

Key Responsibilities:

  • Prospecting and Lead Generation: Identify and research potential corporate clients across various industries, create a consistent pipeline of qualified leads through market research, networking, and referrals.
  • Client Acquisition: Understand clients' insurance needs and provide bespoke solutions, develop 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.
  • 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.
  • Meet Targets - Revenue Generation: Work diligently to achieve 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.
  • 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.
  • Reporting and Documentation: Maintain accurate records of sales activities, client interactions, and proposals, prepare regular reports on sales performance, forecasts, and market analysis.
  • 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.
  • 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.

Requirements:

  • Bachelor's or Master's degree
  • Strong technical knowledge of various lines of insurance (e.g., Property, Marine, Liability, Employee Benefits)
  • Excellent communication, negotiation, and presentation skills
  • Result-oriented 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
  • At least 7-8 years of GI Insurance Corporate Sales experience with an insurer/broker
  • Last 3 years or more in a sales leadership role (applicable for Team Leader position only)

Compensation: The estimated annual salary for this role is ₹2,400,000 - ₹3,600,000 based on industry standards and location factors.

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