Business Development Executive

FM is a renowned mutual insurance company dedicated to property risk management and enhancing the resilience of its policyholder-owners. They are seeking a highly motivated Sales Executive to expand their market presence, particularly in the East Coast region of the United States, by identifying new business opportunities and fostering strong client relationships.

Responsibilities:

• Identify and develop new business opportunities through direct prospecting, networking, and comprehensive market research to expand FM Boiler Re’s footprint in the Equipment Breakdown reinsurance sector
• Build and nurture long-term relationships with prospective and existing clients, ensuring their needs are understood and met with tailored solutions
• Conduct compelling presentations and product demonstrations to prospective clients, effectively communicating the value proposition of FM Boiler Re’s offerings
• Negotiate contractual terms and close sales deals that align with company targets and client expectations, contributing to revenue growth
• Collaborate closely with internal teams, including underwriters and claims professionals, to ensure seamless delivery of products and services
• Maintain detailed records of sales activities, pipeline status, and client interactions within CRM systems to support strategic planning and reporting
• Stay informed about industry trends, competitor activities, and market conditions to identify emerging opportunities and potential threats
• Partner with FM Boiler Re Reinsurance Territory Managers and other stakeholders to develop, secure, and maintain Equipment Breakdown reinsurance assumed treaty partnerships, primarily focusing on the East Coast of the U.S
• Develop professional communication channels and strategies to nurture long-term relationships with prospective partner insurance companies at various stages of the sales cycle
• Lead prospecting and onboarding activities, coordinating efforts, establishing timelines, and resolving implementation challenges to ensure successful partnership integration
• Participate actively in industry meetings, conferences, and related events to enhance FM Boiler Re’s visibility, network with industry professionals, and identify new business opportunities

Requirements:

• Bachelor's degree in Business, Marketing, or a related field
• Minimum of six years of experience within the insurance industry
• Knowledge of Equipment Breakdown insurance and reinsurance markets
• Proven track record of consistently meeting or exceeding sales targets
• Strong interpersonal and communication skills
• Strategic thinking and a customer-centric approach
• Relevant industry certifications or designations in insurance and reinsurance
• Familiarity with insurance company operations, policy forms, underwriting processes, and claims adjustment