Company Overview:
At Vault, we are not just insuring assets. We are reducing risks with data-driven technology to Protect What Matters Most to our customers.
Our team is driven by a shared commitment to protect customers’ most prized possessions. We look at the bigger picture to provide custom solutions, exceptional service, and risk management to protect their legacy proactively.
Thinking about joining our team? We look for self-motivated and inventive individuals dedicated to providing the highest level of service to our customers and partners.
The Business Development Manager (BDM) will be responsible for identifying new business opportunities, developing and implementing growth strategies, and building and maintaining strong relationships with clients. The BDM is also responsible for overall agency relationship management, including new client acquisition and client management.
The Business Development Manager will need to reside in the Tri-State region (NY, NJ or CT) for consideration and the required travel for this role.
Why Choose Vault:
- 46% of our workforce was referred by someone at Vault
- 37% growth rate in staff since December 2021
- Our Financial Strength is rated an A- by AM Best
- Rated 4.5 stars based on our customer experience reviews
- Our leaders are respected innovators with decades of insurance expertise
- Vault’s proprietary technology allows for enhanced capabilities, speed, and efficiency
- Leading high-net-worth insurance provider with a foundation in customized solutions
- Comprehensive benefits tailored to your lifestyle
Job Responsibilities:
- Manages and maintains focus on achieving metrics in conjunction with the company scorecard, including new business written premium, renewal retention, company loss ratio, agency appointments, and visibility.
- Builds relationships with key partnerships regionally by having broker engagements in person, by phone, or virtual.
- Documents engagement follow-ups and maintaining agency scorecard aligned with broker’s commitment to Vault.
- Demonstrates the ability to achieve monthly, quarterly, and annual production goals.
- Works closely with the Underwriting and Risk Services teams to continuously evaluate submissions from key partners to ensure quality of business, price, and continuous development of strategy.
- Ensures that products and services are competitively positioned in the market.
- Manages a pipeline of key customers to meet and exceed growth goals and objectives.
- Effectively manages daily, weekly, and monthly goals and tracking responsibilities.
- Rehabilitates and/or terminates underperforming brokers.
- Tracks and reports performance and develops a clear view of market conditions and competitive landscape within the region.
- Collaborates with the Underwriting team to source large account opportunities, develop terms, and communicate with agency partners.
- Collaborates with the Underwriting team to identify and source large account opportunities.
- Develops terms and conditions for large accounts in collaboration with the Underwriting team.
- Communicates terms and conditions to agency partners and ensure that they are understood.
- Works with agency partners to ensure that all necessary documentation is provided.
- Monitors and evaluates the performance of large accounts and makes recommendations for improvements.
- Stays current with industry trends and regulations and competitors in the market.
- Partners with brokers to craft the best creative solutions for their largest clients while sharing knowledge and best practices.
Preferred Qualifications:
- A Bachelor’s degree is preferred
- 5+ years of experience in the Property and Casualty insurance industry with 2 years of sales and marketing experience
- Exceptional interpersonal and communication skills (written and verbal)
- Strong attention to detail and organizational skills
- Strong abilities and desire to provide service levels that exceed industry standards and promote teamwork across functional areas to cultivate an environment of collaboration.
- Strong aptitude for working in a highly competitive market, being innovative in business production and retention, and adapting to changing markets and internal requirements.
- Strong time management skills with the ability to prioritize and handle multiple tasks.
- Resourceful and results-driven with strong problem-solving and analytical skills
- Proficient in Microsoft applications (MS Office, Excel, Word, etc.)
Benefits:
- Flexible Spending Accounts & Health Savings Account, with company contributions
- Company-paid comprehensive life & disability insurance plans
- 24/7 Telehealth doctor access, virtual wellness screenings, Employee Assistance Programs
- Company 401k retirement plan with Day 1 eligibility (5% company match, 100% immediate vesting)
- 23 PTO days, accrued yearly
- 11 paid holidays