Business Development Executive at Banksome Group of Companies

Job Summary 

• You are responsible for driving business growth by identifying new opportunities, expanding our client base,building relationships with clients, ensuring our brokerage's services meet client needs for sustained growth in the competitive insurance industry.

Job Responsibilities

• Identify and develop new business opportunities to generate revenue.
• Prospect for potential clients through networking, cold calling, and market research.
• Conduct client presentations to demonstrate the benefits of insurance solutions.
• Generate leads through various channels to ensure consistent pipeline growth.
• Build and maintain strong, long-term relationships with new and existing clients.
• Understand clients’ insurance needs and tailor solutions that address those needs.
• Serve as a liaison between clients and insurance providers, ensuring efficient service delivery.
• Regularly meet with clients to assess their satisfaction and explore upselling opportunities.
• Conduct market analysis to identify trends and the competitive landscape.
• Keep abreast of the latest insurance products, services, and regulatory changes.
• Analyze clients’ businesses and industries to offer tailored insurance brokerage solutions.
• Develop and execute business development strategies that align with the company's growth goals.
• Achieve monthly, quarterly, and annual sales targets.
• Work with internal teams to develop proposals, negotiate terms, and close deals.
• Report regularly on sales performance and forecasts.
• Ensure smooth service delivery of underwriting, claims and risk management 
• Create targeted campaigns and promotional materials.
• Provide feedback on market needs and trends.
• Negotiate insurance terms and conditions on behalf of clients with insurance companies.
• Prepare, review, and manage contractual agreements with clients and underwriters.
• Ensure compliance with insurance laws and regulations.
• Assist clients with queries, claims, and policy renewals.
• Provide regular updates on insurance trends, policy renewals, and adjustments.
• Address and resolve customer complaints promptly and professionally.
• Attend industry events, workshops, and seminars to stay updated on industry developments.

KPI

• Number of leads generated 
• Clients conversion rate
• Number of new clients/business acquired.
• Revenue growth and sales targets achieved.
• Targeted premium revenue generated.
• Client retention rate.
• Customer satisfaction levels.

Qualifications/Skills

• Bachelor’s degree in Business, Finance, Insurance, or a related field.
• 3-5 years of experience in business development, preferably in the insurance or financial services industry.
• Understanding of insurance products, brokerage services, and risk management.
• Familiarity with insurance regulations and market practices.
• Strong communication, negotiation, and presentation skills.
• Ability to build and maintain relationships with clients.
• Analytical mindset with the ability to conduct market research and analysis.
• Goal-oriented with a strong drive to achieve and exceed sales targets.
• Problem-solving mindset and ability to think strategically.
• Self-motivated, proactive, and able to work independently or as part of a team.