Insurance Business Development Manager

Insurance business development managers are employed by insurance companies to build up business accounts through other agents. Their job is to promote their company’s insurance products and key features, and encourage the agents to sell insurance to their customers or employees.  They try to attract new business, sometimes on a very large scale.
A business development manager’s work includes identifying new business opportunities, setting up meetings and preparing sales presentations to potential clients, telling agents about changes to products, setting up call centre support teams,
tracking sales performance and profitability of accounts.
They usually work office hours, Monday to Friday. Although they generally have an office base, travel to visit clients is a big part of the job. Some cover a regional area. It is possible to work from home or work part time.
Salaries start from approximately £18,000, rising to £40,000 or more for senior business development managers.
Insurance business development managers need to know about insurance products and the industry, have excellent communication skills, good organisational and egotiation skills, honesty and discretion, to be enterprising and show initiative and to enjoy meeting new people.
Most insurance companies, large and small, employ business development managers. There are job opportunities nationwide, giving insurers access to regional and national brokers. They are also employed by larger brokers to develop business accounts with corporate clients.
There are no formal entry requirements, but employers generally prefer some sales and insurance experience. Many people gain some experience in insurance before managing accounts, often as technicians or in marketing or sales support. Some large insurance companies take on graduates each year on a management programme.
Training is mainly on the job, though there may be in-house courses. Trainees also study for insurance qualifications. Mature applicants are welcome, and their previous experience may be useful.
Progress in their career often depends on how well their accounts do. They may move on to become a sales manager or area manager, or into senior management. Others move into related roles, such as marketing or training.

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