Business Development Director, Insurance
2 weeks ago
Role Description
The Business Development Director, Insurance will have the responsibility for developing and maintaining an active funnel of life insurance opportunities at Moors & Cabot. There are two primary channels for this role to develop business: Internal (estimated to be 25% of Opportunity) and External (estimated to be 75%+ of Opportunity: Green Field). The Business Development Director, Insurance will act as a liaison and relationship coordinator for our strategic partnership with Highland Capital as BGA. They will be responsible for building a business line at Moors & Cabot that supports the overall financial planning capabilities of existing relationships and establishing a new channel of opportunity.
This position exemplifies Moors & Cabot’s core values of Integrity, Service is Personal, One Team, Communication and Initiative by demonstrating the ability to find life insurance solutions for current and new clients specific to their needs as well as by working with the financial professionals and our BGA, Highland Capital, to uncover new business opportunities.
This full-time role reports to the Chief Growth Officer. Working hours are Monday - Friday 8:30 AM to 5:00 PM EST. This role is open to be located at the Boston, MA, Winter Park, FL or Naples, FL Moors & Cabot branches with hybrid flexibility.
Role Responsibilities
Drive sales growth and build a consistently managed pipeline and ensure top tier prospects are effectively engaged through a collaborative and efficient process
Create a revenue stream of small and medium sized business owners for life insurance policies for the owners and key employees (Key Man Insurance, Executive Policies, Etc.)
Implement strategic business development initiatives and marketing campaigns to drive new revenue streams from external clients
Develop a strong channel of new leads through direct or indirect contacts, prospecting, and cultivation or nurturing of existing relationships
Identify and help develop strategic relationships with Highland Capital as our BGA
Educate and market to existing channel (Financial Advisors) to fully round out their financial planning capabilities
Coordinate internally with Financial Advisors interested in selling and delivering life insurance policies to their clients
Research, qualify and track current and future internal and external business opportunities
Generate new business opportunities by qualifying leads and prospecting - making cold calls, sending emails, and leveraging social media
Lead targeted discovery calls with prospective buyers and book new business appointments
Track prospects and engagement outcomes in Client Relationship Management system; maintain disposition of each prospect as either being moved forward in the sales pipeline to a close, or qualified out/lost
Consult with clients and prospective clients to assess insurance needs, budget, financial planning goals, and other relevant details
Follow up with clients on a periodic basis to assess financial, family, and other changes that may warrant modification of coverage
Promote and be a subject matter expert of M&C’s Insurance service offerings and industry thought leadership
Research key market competitors and their product portfolios to ensure competitiveness
Provide feedback and input for process improvement and delivery capabilities
Comply with all management system data standards and data integrity (enters and maintains complete and accurate information)
Continue to meet Continuing Education requirements for license renewal
Maintain a professional demeanor to actively support and promote a positive public image of Moors & Cabot
Key Measurements
Achievement of annual sales goals by providing regular feedback to the Chief Growth Officer on progress toward those goals
Generation of new business opportunities by qualifying leads and prospects
Revenue produced from existing client relationships through the financial professionals at Moors & Cabot
Minimum Requirements
Bachelor’s degree or equivalent combination of education and experience
Four (4) or more years of related work experience with life insurance policy administration
Valid life insurance license
Preference for securities licenses
Experience with financial planning software
Advanced negotiating/sales experience
Excellent verbal and written communication skills
Excellent planning, organizational and prioritization skills
Strong organizational and analytical skills
Strong leadership ability
Ability to work independently and proactively
Estimated 25-30% travel required
Competent in the following Knowledge, Skills, and Abilities:
Customer Service
Attention to detail
Social Media
Reading, Writing, and Oral Expression and Comprehension
Basic Math
Social Perceptiveness
Time Management
Empathy
Teamwork
Critical Thinking and Problem Solving
Deductive and Inductive Reasoning
Sales
About Us
Since its founding in 1890, Moors & Cabot and its people have defined the meaning of
financial services. The firm has participated in the retail sale of stocks and bonds to
individuals and the institutional sale of stocks and bonds to most of Boston's money
management firms. In addition to specializing in wealth management through full service
registered representatives, Moors & Cabot offers investors additional investment tools
such as cash management accounts, retirement planning, mutual funds, annuities and
other insurance products.
Moors & Cabot is an equal opportunity employer. All aspects of employment including the
decision to hire, promote, discipline, or discharge, will be based on merit, competence,
performance, and business needs. We do not discriminate on the basis of race, color,
religion, marital status, age, national origin, ancestry, physical or mental disability, medical
condition, pregnancy, genetic information, gender, sexual orientation, gender identity or
expression, veteran status, or any other status protected under federal, state, or local law.
We utilize the Department of Homeland Security’s employee authorization program,
E-verify. E-Verify confirms employment eligibility by comparing the employee's Form I-9
information entered in E-Verify by the employer with the information in records available to
SSA and/or DHS.
Compensation
Salary commensurate with experience
Total Target Compensation of $200K +.
$200K Consists of: $65k - $75k base salary with upwards of $125k or more in variable compensation including commissions, bonuses, etc. and potential for growth from there dependent on revenue streams
Total Rewards Benefits Package:
Medical, Dental & Vision
Short Term Disability, Long Term Disability, Life Insurance, and optional Supplemental Life insurance for employee, spouse, and dependents
401k plans with yearly match
Flexible spending accounts
PTO: vacation, personal days, sick time, and volunteerism day to encourage community involvement
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