Job Details
An exciting opportunity exists to join the ProAssurance family of companies!
We are a specialty writer of professional liability, products liability and workers' compensation insurance. With approximately 1,000 team members operating in all 50 states, we are well-positioned to offer career opportunities to individuals interested in professional growth.
This position supports our medical product liability/life sciences line of business, Medmarc. Preference is for this position to be hybrid and based in Chantilly VA. We will consider qualified candidates located in other locations.
Job Summary:
The primary responsibility of the Business Development Specialist is to improve the company's market position and achieve financial growth by identifying and attracting desirable life science accounts to the company. The Business Development Specialist will work with and support the territory underwriters to help build their books of business by locating and researching target and prospect companies within our risk appetite and working with insurance brokers to bring them to Medmarc. They will visit brokers in person and via video calls to establish and nurture strong relationships and participate in training on underwriting appetite and policy forms. They will develop new brokers and build books of business with development, retail, wholesale, and new brokers, and represent the company at industry conferences and customer meetings. They will also work with insureds that come directly to Medmarc through its in-house agency to facilitate the placement of all lines of insurance, including Products Liability, E&O, GL/BOP, Workers Comp, Auto, and Umbrella with our partner carriers in the US and Europe.
Essential Duties and Responsibilities:
60% - Drive new business development by establishing and improving relationships with insurance brokers across the country.
* Work directly with insurance brokers to create and manage a sales plan to bring business to Medmarc.
* Initiate and lead broker training on Medmarc's risk appetite and policy forms.
* Manage prospect account program and reassign old leads to new brokers; locate the broker of record for target accounts; work with brokers to get new submissions on target business.
* Partner with underwriters to coordinate broker visits and marketing efforts, and secure competitive terms on new business.
* Create and manage local events in the territories (e.g. broker outings at off-site venues).
25% - Actively engage with Business Development management on growing and servicing in-house brokered business. Respond to incoming new business questions and direct submissions from life science companies.
10% - Represent the Company at industry conferences, seminars, meetings, and other company-sponsored and non-sponsored events to generate sales leads and promote Medmarc products and services.
Secondary Responsibilities:
5% - Support the company's digital marketing efforts by updating HubSpot/CRM system with new contacts and using system to connect with new prospects and brokers. Add to the company's LinkedIn presence by engaging followers.
Qualifications:
* Bachelor's Degree, preferably in business, marketing, or risk management required. A high school diploma and a minimum of eight years of relevant experience are required for candidates without a bachelor's degree.
* Minimum of 3 years of work experience, preferably in insurance sales, business development, or production underwriting is required.
* Previous Medical Technology / Life Sciences experience a plus.
* P&C License in individual's state of residence required or attain one within twelve months of hire if none currently.
* Working knowledge of CRM systems (e.g. HubSpot, Salesforce) preferred.
* Strong interpersonal skills: ability to interact with brokers and life science companies to gain trust, represent the company, and bring in new accounts.
* Ability to travel up to 25%.
* Self-motivated with the ability to multi-task effectively.
* Strong presentation skills.
* Strong analytical and critical thinking skills.
* Excellent verbal and written communication skills.
* Proficient in Microsoft Outlook, Excel & Word required.
Position Salary Range
$63,392.00 - $104,607.00
The salary range displayed represents the entirety of the pay grade for this position. Most candidates will start in the bottom half of the range. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have, your location and comparison to other team members already in this role.