What are the responsibilities and job description for the Business Development Executive position at SIA Group?
About Us: SIA Group has grown into one of the largest privately owned full-service insurance agencies in the United States. We are an award-winning firm and have been listed as a Top 100 Privately Held Property Casualty Agency by the Insurance Journal.
Location: Raleigh, Durham, Wilmington, Jacksonville
Job Summary: The Insurance Business Development Executive is responsible for identifying and securing new business opportunities to drive growth and profitability in the insurance sector. This role focuses on developing and executing strategies to attract new clients, expand market presence, and enhance relationships with key stakeholders. The ideal candidate will have a strong background in insurance sales, exceptional strategic planning skills, and a proven ability to generate and convert leads into successful partnerships.
Key Responsibilities:
Business Development Strategy:
- Develop and implement business development strategies to achieve company growth targets and expand market share.
- Identify and pursue new business opportunities, including potential clients, partnerships, and markets.
- Conduct market research and analysis to identify trends, opportunities, and competitive landscape.
Client Acquisition and Relationship Management:
- Build and maintain relationships with key decision-makers, brokers, and industry influencers.
- Lead efforts to acquire new clients and secure new contracts by presenting compelling value propositions and customized insurance solutions.
- Manage relationships with existing clients to ensure high levels of satisfaction and identify opportunities for upselling or cross-selling additional services.
Sales and Marketing:
- Collaborate with the marketing team to develop and execute targeted campaigns and promotional activities.
- Represent the company at industry events, trade shows, and networking functions to build brand awareness and generate leads.
- Prepare and deliver presentations, proposals, and reports to prospective clients and stakeholders.
Contract Negotiation and Management:
- Negotiate terms and conditions of insurance contracts with clients and partners.
- Ensure that all agreements are compliant with company policies and regulatory requirements.
- Monitor contract performance and address any issues or concerns that arise.
Performance Monitoring and Reporting:
- Track and analyze business development performance against targets and KPIs.
- Prepare regular reports and forecasts on business development activities, progress, and results.
- Adjust strategies and tactics based on performance data and feedback.
Collaboration and Coordination:
- Work closely with internal teams, including underwriting, claims, and customer service, to ensure seamless execution of client requirements.
- Share insights and feedback with the team to improve product offerings and service delivery.
Qualifications:
- Education: Bachelor’s degree in Business, Marketing, Finance, or a related field (preferred).
- Experience: Proven experience in business development, sales, or account management within the insurance industry or at least 3-5 years’ experience in outside sales.
- Licensing: P & C License or willingness to obtain within 60 days of hire.
- Skills:
- Strong strategic thinking and problem-solving abilities.
- Excellent communication, presentation, and negotiation skills.
- Proven ability to build and maintain client relationships.
- Proficiency in CRM software and Microsoft Office Suite.
- Strong analytical skills with a data-driven approach to decision-making.
Working Conditions:
- Environment: Territory travel to meet clients and attend industry events.
What We Offer:
- Work/Life Balance
- Remote Flexibility
- Competitive salary and commission structure.
- Comprehensive benefits package, including health, dental, and vision insurance.
- Pet Insurance
- Nurse Concierge
- EZ Access MD
- Wellness Resources
- 401k
- Unlimited PTO
- Professional development opportunities and support for continuing education.
- A collaborative and supportive work environment.
- Opportunities for career advancement within a growing company.
