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Insurance Sales Manager for Finance Company - Central London

Job reference:
insurance
Location:
Various
Salary:
£60k-£75k base, £120k+ OTE, benefits
Job type:
Perm - Non-consulting
Sector:
Marketing & Sales
Date posted:
21/07/2017

Our client acts as an intermediary for legal expenses insurance taken after the event (“ATE”) to reduce the financial risk of an adverse outcome in litigation.  They are a new player in an established market and have several distinctive advantages that support its proposition of “transforming legal expenses insurance”. Currently, they originate their opportunities from lawyers, typically in litigating practices.  This activity is successful and is similar to other insurers.  A dedicated sales-person is already in place to develop this route to market.  To expand the pool of opportunity and to create a distribution channel that is appropriate to the comprehensive proposition that they offer, an additional sales-person is required to originate opportunities from other aggregators of “boardroom risk” (a category into which litigation naturally fits) such as corporate insurance brokers, consultancies, banks and private equity investors.

 

The metrics of success will be:

  • The number of new referrers of opportunity
  • The number and value of proposals received
  • The value of proposals that are accepted and go on-risk.

 

The role initially encompasses:

  • Identifying and targeting prospects
  • Getting a first meeting and propogating through the target organization to reach the decision-maker/referrer
  • Generating a clear understanding of the benefits of the insurance proposition, underwriting criteria and the policy cost
  • Bringing in completed proposals for risk assessment by the underwriting team

 

To be successful, the individual is required to be highly effective at:

  • Cold prospecting and selling
  • Respecting hierarchy and adhering to decisions taken
  • Understanding and contributing to strategy development

 

The role has a London office base but is expected to be one which involves much off-site operation and, on occasions, foreign travel.

 

Specific Responsibilities:

 

With the support and guidance of the CEO and the Underwriting Director through own efforts the Sales Manager will have the following objectives

 

Commercial

  • Build new referrer relationships and develop new flows of insurance proposals. The Sales Manager must create a sales plan and be accountable for its delivery
  • Focus on new potential referrers: identifying, soliciting, developing and following-up all opportunities
  • Position for and spot openings, leads and prospects, make connections, network and ‘keep an ear to the ground’
  • Challenge QLCC to ensure the needs of potential referrers are met whenever this is commercially viable
  • Build data to ensure successes are understood and lessons learned

 

Service

 

  • Actively manage referrer relationships
  • Ensure contact details and relationship history are kept up to date on the Salesforce platform
  • Maintain pipeline tracking on the Salesforce platform
  • Respond to referrer contacts in a manner that develops an appreciation of their high service making sure that proposals introduced are owned by the Underwriting Team and followed through appropriately


Operational Excellence

  • From referrer feed-back and experience, propose improvements to the way that the Business operates and assesses new insurance opportunities
  • Assist in devising, developing and implementing strategies to respond to the various changes taking place in the commercial market place and to adjust the modus operandi of theirs to keep it at the forefront of its market
  • Ensure that the best possible use is made of available IT systems, particularly Salesforce

 

 
Team

  • Provide advice and assistance with the professional development of other Team members at all stages of their careers.
  • Set an example within the Team of best behaviour and of being a ‘go to’ person and advisor for them in business development matters.
  • By the way tasks are approached, promote a general culture of inclusivity, understanding and support

 

Key Skills and Aptitudes

 

A legal qualification is not required although interest in the sector is beneficial.  The Role holder is expected to demonstrate the following:

  • Track record of successful “cold” consultative selling to C-level. More hunter than farmer.
  • Demonstrable commercial awareness that can be evidenced through leadership of complex financial negotiations
  • Experience of working with insurance products, particularly those connected with boardroom risks
  • An outgoing and positive mind-set.
  • Charisma, charm and the ability to influence and persuade
  • Self-confidence and an engaging style, with the ability to hold a room
  • Self-motivation, with the drive and energy to achieve success
  • Excellent intellect and communication skills, transversal as well as up and down

 

Please send your CV to richard@midnbench.co.uk 

 

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