Business Development Executive (Insurance Broker)

Banksome Group

Sales

Job description

Urgently Needed!!

Job Title: Business Development Executive (Insurance Broker)

Job Type: Full Time

Qualification: BA/BSc/HND

Experience: 3-4 years

Location: Lekki, Lagos

Industry: Insurance Brokerage

Job Summary

We are seeking a dynamic and results-driven Sales Executive (Insurance Broker) to join our startup insurance brokerage firm. The Sales Executive (Insurance Broker) is responsible for identifying and acquiring new clients, advising them on various insurance products, and ensuring seamless policy sales and renewals. This role requires strong networking, relationship management, and consultative selling skills to grow the company’s portfolio and revenue.

Job Responsibilities

• To identify and generate leads for potential individual and corporate clients.

• To promote, sell and close deals on high premium and various insurance products, including corporate, life, health, motor, property, marine, travel, specialized coverage and business insurance.

• Develop and implement sales strategies to meet and exceed targets.

• Conduct market research on competitors, industry trends and identify new opportunities.

• Build and maintain strong relationships with existing and prospective clients.

• Assess client needs and recommend suitable insurance coverage.

• Explain policy details, terms, and conditions clearly to clients.

• Ensure clients fully understand policy exclusions, benefits, and claim procedures.

• Provide after-sales support, including policy renewals and claims assistance.

• Work with underwriters to negotiate competitive premiums and policy terms.

• Ensure accurate documentation and submission of policy applications.

• Follow up on policy issuance and ensure timely delivery to clients.

• Handle client inquiries and complaints professionally and promptly.

• Develop strategies to improve client retention and referrals.

• Monitor and follow up on policy renewals to ensure continuity of coverage.

• Ensure compliance with industry regulations and company policies.

• Maintain accurate sales records and provide periodic reports.

• Stay updated on industry trends, new insurance products, and regulatory changes.

• Develop partnerships with corporate organizations, associations, and HNWIs to expand the firm’s client base.

• Represent the firm at networking events, business meetings, and industry conferences.
  

Key Requirements

• BSc in Business Administration, Insurance, Finance, or a related field.

• Minimum of 2-4 years of sales experience in an insurance brokerage or insurance company.

• Relevant professional certifications (e.g., CIIN – Chartered Insurance Institute of Nigeria) are a plus.

• Proven track record of closing high-premium insurance deals and meeting sales targets.

• Strong understanding of various insurance products, including life, health, property, and corporate insurance.

• Excellent communication, negotiation, and presentation skills.

• Ability to build and maintain relationships with high-net-worth clients and corporate organizations.

• Strong sales, negotiation, and persuasion skills.

• Excellent communication and interpersonal skills.

• Ability to analyze client needs and recommend suitable insurance solutions.

• Self-motivated, goal-oriented, and result-driven.

• Good knowledge of Nigerian insurance laws and regulations.

• Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint).
  

KPI

• Number of new clients acquired weekly, monthly and quarterly.

• Total premium value of policies sold.

• Client retention and policy renewal rates.

• Revenue contribution to the firm.
  

Send CV to [email protected] with the role as a subject.

<