New Business Development Exec MBRe

Factory Mutual Insurance Company•Malvern, PA

About The Position

FM Boiler Re is a division of FM and has been providing boiler and machinery insurance in North America for more than 130 years. FM Boiler Re specializes in providing Equipment Breakdown reinsurance and related services to insurance companies throughout North America. Our products are developed in partnership with primary insurance companies, reinsurance intermediaries and agents/brokers. We are seeking a highly motivated and results-driven Sales Executive to join our team. The ideal candidate will be responsible for generating new business opportunities, managing prospect/client relationships, and driving revenue growth. This role requires strong communication skills, sales acumen and aptitude, a strategic mindset, and the ability to thrive in a fast-paced environment. Working in partnership with FM Boiler Re Reinsurance Territory Managers and other functional disciplines, the principle role of the New Business Development Executive will be to develop, and secure new Equipment Breakdown reinsurance assumed treaty partnerships primarily in the East Coast region of the U.S. This team member will develop timely, professionally-accepted means of communication to develop and nurture long-term relationships with prospective Partner insurance Companies at various stages in the Equipment Breakdown product and sales life-cycle. This position will also lead for Prospecting and On-boarding phases which include coordinating activities, establishing timelines, confirming results and resolving implementation challenges.This team member will also be active in the insurance community by participating in meetings, conferences, and appearing at industry related functions in support of developing relationships and obtaining opportunities for FM Boiler Re to compete for new business.

Requirements

Bachelor’s degree in Business, Marketing, or related field.
Six plus years in the insurance industry with knowledge of the Equipment Breakdown insurance, reinsurance and related services marketplace along with an overall understanding of insurance company operations.
Proven track record of meeting or exceeding sales targets.
Extensive knowledge of policy forms, underwriting, engineering, processing, claims adjustment, the competitive landscape, professional reinsurers, and brokers.
Excellent interpersonal, written, presentation, negotiation, and sales skills.
Strong organizational and time management abilities
Proficiency in CRM software and Microsoft Office Suite.
Normal office environment with extended time with prospective Partner insurance Companies during and after regular work hours. This position will be out of the office making calls 20% - 50% of the time and may require up to and over 30% overnight travel.

Nice To Haves

Relevant insurance and reinsurance industry designations preferred.

Responsibilities

Identify and develop new business opportunities through direct prospecting, networking, and market research.
Build and maintain strong relationships with prospects ensuring their conversion to long-term partnerships.
Conduct presentations and demonstrations to prospective clients.
Negotiate contracts and close deals to achieve sales targets.
Collaborate with internal teams to ensure seamless delivery of products/services.
Maintain accurate records of sales activities and pipeline in CRM systems.
Stay informed about industry trends, competitor activities, and market conditions.

Benefits

The position is eligible to participate in FM’s comprehensive Total Rewards program that includes an incentive plan, generous health, and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.
FM is an Equal Opportunity Employer and is committed to attracting, developing and retaining a diverse workforce.

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