Business Development Officer

The Employer

RUSTAN INVESTMENT AND MANAGEMENT CORPORATION (RIMCO) is a member company of the Rustan Group of Companies.

RIMCO was incorporated and registered with the Securities and Exchange Commission (SEC) on March 28, 1966. Its primary purpose is to establish, maintain, and manage investments and shares. The Company shifted its primary purpose to become an insurance intermediary to cater to the growing insurance requirements of the group.

Job Summary:

The Business Development Insurance Officer is responsible for driving growth and expanding the company's non-life insurance portfolio. This role involves identifying new business opportunities, building and maintaining strong relationships with clients, and ensuring the company meets its sales and profitability targets. The officer will work closely with internal teams to develop and implement effective strategies for client acquisition, retention, and market expansion.

Key Responsibilities:

• Business Development & Sales
• Identify potential clients and business opportunities to increase the company's non-life insurance market share.
• Develop and execute sales strategies to generate leads and secure new business.
• Conduct market research to identify trends, competitor activities, and customer needs.
• Prepare and deliver compelling presentations and proposals to prospective clients.
• Meet or exceed sales targets and revenue goals.
• Client Relationship Management
• Build and maintain strong relationships with existing and potential clients.
• Provide professional advice on insurance products and services to meet client needs.
• Ensure timely and accurate processing of client inquiries, quotations, and policy renewals.
• Handle client complaints and concerns promptly, ensuring high customer satisfaction.
• Product Knowledge & Development
• Stay updated on non-life insurance products, underwriting guidelines, and industry regulations.
• Work with insurance providers to negotiate competitive terms and policies for clients.
• Collaborate with internal teams to develop new insurance products and improve existing offerings.
• Operational & Compliance Responsibilities
• Ensure compliance with all relevant regulatory and company policies.
• Maintain accurate and up-to-date records of business development activities and client interactions.
• Prepare reports on sales performance, market trends, and client feedback.
• Coordinate with the underwriting and claims departments to ensure smooth service delivery.

Qualifications & Requirements:

• Bachelor's degree in Business Administration, Marketing, Finance, or a related field.
• Minimum of 2-5 years of experience in business development, sales, or account management in the insurance industry, preferably in non-life insurance.
• Strong knowledge of non-life insurance products and services.
• Excellent communication, negotiation, and presentation skills.
• Strong networking and relationship-building abilities.
• Goal-oriented with a track record of meeting and exceeding sales targets.
• Proficiency in MS Office (Word, Excel, PowerPoint) and CRM software.
• Ability to work independently and as part of a team in a fast-paced environment.

Work Environment:

• Office-based with frequent client meetings and occasional travel.
• May require attending networking events and industry seminars.

Job Type: Full-time

Benefits:

• Additional leave
• Employee discount
• Flexible schedule
• Health insurance

Work Location: In person