PURPOSE:
We are seeking a dynamic and results-driven Business Development Officer to join our team and drive growth within the Marine, Liability, and Travel products sectors. The ideal candidate will be responsible for identifying new business opportunities, building and maintaining strong relationships with clients, and developing strategies to expand our product offerings in the market.
PRIMARY RESPONSIBILITIES:
Market Research and Analysis:
- Conduct market research to identify trends, opportunities, and competitors in the Marine, Liability, and Travel insurance sectors.
- Analyze customer needs and recommend appropriate product offerings to meet their requirements.
Business Growth & Sales Strategy:
- Develop and implement business development strategies to expand the customer base and increase revenue for Marine, Liability, and Travel products.
- Build a pipeline of new clients and prospects through networking, referrals, and cold outreach.
- Collaborate with the marketing team to create targeted campaigns for new business acquisition.
Client Relationship Management:
- Establish and maintain strong relationships with key clients and stakeholders in the Marine, Liability, and Travel sectors.
- Serve as the primary point of contact for client inquiries, complaints, and requests.
- Regularly meet with clients to understand their needs and propose appropriate solutions.
Product Knowledge and Consultation:
- Stay updated on industry trends, insurance regulations, and product developments in the Marine, Liability, and Travel sectors.
- Provide clients with accurate information about products, policies, and services.
- Assist clients in selecting appropriate coverage and tailor solutions to meet their specific needs.
Sales Targets and Reporting:
- Meet and exceed individual sales targets and goals.
- Prepare regular reports on sales performance, market trends, and competitor activities.
- Provide insights and recommendations to senior management regarding business opportunities and strategic direction.
Collaboration with Internal Teams:
- Work closely with the pricing, underwriting, claims, and customer service teams to ensure smooth delivery of services and products to clients.
- Coordinate with the product development team to provide feedback on market needs and help in the creation of new or improved offerings.
Negotiation and Contract Management:
- Lead negotiations for new contracts and renewals with clients, ensuring that terms and conditions are aligned with company objectives.
- Assist clients with claims and contract management issues as needed.
Key Skills, Knowledge, Experience and Behavioural Competencies
Academic and Professional Requirements
- Education Bachelor’s Degree Degree in Business Administration, Marketing, Insurance, or a related field.
- Professional Qualification Relevant certifications in insurance or business development
- Familiarity with marine, liability, and travel insurance markets.
Experience Required:
Description Required years of experience
- Five years Relevant experience
Qualifications, Skills and Competencies:
- Experience in business development, sales, or account management, with a focus on Marine, Liability, or Travel insurance products.
- Strong understanding of the insurance industry, including policies, coverage types, and regulations.
- Proven track record of meeting or exceeding sales targets.
- Excellent communication and interpersonal skills with the ability to build strong relationships with clients.
- Analytical mindset with the ability to conduct market research and make data-driven decisions.
- Ability to work independently and as part of a team.
- Strong negotiation and presentation skills.
- Proficiency in Microsoft Office Suite
