For consideration, the Business Development Manager must reside in Massachusetts and will require travel for this role.
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.
Key Stakeholders:
Vault is a small, nimble, and innovative high-net-worth insurance provider where you will immediately have the chance to make a lasting impact. You will collaborate directly with leaders across the company in Sales, Product, Underwriting, Claims, Actuarial, Operations/Call Center, Technology, and Vault’s executive leadership team.
Why Choose 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:
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Manage and maintain focus on achieving metrics in conjunction with the company scorecard, including new business written premium, renewal retention, company loss ratio, agency appointments, and visibility.
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Build relationships with key partners regionally by having broker engagements in person, by phone, or virtually.
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Document engagement follow-ups and maintain the agency scorecard aligned with the broker’s commitment to Vault.
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Demonstrate the ability to achieve monthly, quarterly, and annual production goals.
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Work 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.
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Ensure products/services are competitively positioned in the market.
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Manage pipeline of key customers to meet and exceed growth goals and objectives.
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Effectively manage daily, weekly, and monthly goals and tracking responsibilities.
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Understand industry trends and competitors in the market.
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Rehabilitate and/or terminate underperforming brokers.
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Track and report performance and develop a clear view of the region's market conditions and competitive landscape.
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Collaborate with the underwriting team to identify and source large account opportunities.
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Develop terms and conditions for large accounts in collaboration with the underwriting team.
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Communicate terms and conditions to agency partners and ensure that they are understood.
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Work with agency partners to ensure that all necessary documentation is provided.
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Monitor and evaluate the performance of large accounts and make recommendations for improvements.
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Stay up-to-date with industry regulations.
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Partner with brokers to craft the best and creative solutions for their clients. Share knowledge and best practices.
Job Requirements:
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A Bachelor’s degree is preferred.
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5+ years of experience in the Property and Casualty insurance industry with 2 years of sales and marketing experience.
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Existing relationships with New England High Net Worth agents are preferred.
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Exceptional interpersonal and communication skills (written and verbal).
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Strong attention to detail and organizational skills.
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Strong abilities and desire to provide service levels that exceed industry standards and promote teamwork across functional areas to cultivate an environment of collaboration.
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Strong aptitude working in a highly competitive market, being innovative in business production and retention, and being able to adapt to changing markets and internal requirements.
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Strong time management skills with the ability to prioritize and handle multiple tasks.
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Resourceful and results-driven with strong problem-solving and analytical skills.
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Proficient in Microsoft applications (MS Office, Excel, Word, etc.).
Benefits:
- Flexible Spending Account & 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 (6% company match, 100% immediate vesting)
- 23 PTO days accrued yearly
- 11 paid holidays