Business Development Manager – Intermediary Management at Madison Group Limited

Key Responsibilities

• Develop and implement a strategic business development plan to expand the organization’s market presence within the Corporate life sector while achieving set business development targets and revenue growth.
• Identify and evaluate new business opportunities, including potential partnerships, mergers or acquisitions to enhance the organization’s capabilities and market positioning.
• Collaborate with management team to set strategic goals and targets for the business development team, aligning them with the organization’s overall business objectives.
• Monitor industry developments, regulatory changes and emerging trends affecting Corporate life.
• Provide insights and recommendations to the management team on product development, pricing strategies and market positioning
• Collect all premiums of business debited as per the Company policy.
• Provide training, support and marketing materials to intermediaries to promote the organization’s Corporate business products and services.
• Identify and engage potential clients within the Corporate business sector, leveraging on existing networks and developing new leads.
• Build and maintain strong relationships with key clients, understanding their needs and providing tailored solutions.
• Oversee the development of client presentations, negotiations and proposal development to secure new business opportunities.
• Collaborate with the Group business team to ensure effective client onboarding and seamless handover to the underwriting team.
• Develop and execute strategies to achieve business development targets and revenue growth.
• Identify cross-selling and upselling opportunities within existing client portfolios.
• Collaborate with product development teams to identify and develop new offerings that align with client needs.
• Monitor sales performance, track progress against targets, and provide regular reports to the management team.
• Develop and maintain relationships with intermediaries, brokers and strategic partners.
• Collaborate with intermediaries to identify joint business opportunities and develop mutually beneficial partnerships.
• Lead and manage business development team, providing guidance, coaching and performance feedback while fostering a culture that promotes ethical practices.

Academic and Professional Qualifications required

• Bachelor’s degree in Insurance or any other business-related field.
• Minimum 8 years relevant working experience in business development with proven experience in sales and managing client relations.
• Professional qualifications in IIK, CII or CIM.
• A Masters’ degree will be an added advantage.

Key Competencies

• Business Development Acumen: Strong understanding of business development principles, strategies, and tactics within the corporate life sector.
• Proven track record in retention and converting new business opportunities.
• Relationship Building: Excellent interpersonal skills to build and maintain strong relationships with internal & external clients, intermediaries and strategic partners.
• Strategic Thinking. A strategic mindset with the ability to analyse market trends, competitor activities and regulatory changes to identify strategic business opportunities and risks.
• Proficiency in conducting market research and analysis to identify target markets, customer segments, and industry trends.
• Excellent verbal and written communication skills, including the ability to deliver engaging presentations, negotiate contracts and articulate complex concepts to clients and stakeholders.
• Has a results-driven mindset with a focus on achieving business development targets and driving revenue growth.
• Sound financial knowledge, including an understanding of corporate life products, pricing strategies and financial metrics.