Business Development Officer

Job Title:

Business Development Officer

Reports To:

Operations Director/COO

Department:

Employee Benefits

Job Overview:

As Business Development Officer for Employee Benefits, you will be responsible for identifying and acquiring new business opportunities, conducting market analysis, building strong relationships with corporate clients, and providing tailored medical insurance solutions to meet the healthcare needs of businesses. You will be the primary point of contact for companies seeking comprehensive healthcare coverage for their employees and will ensure client satisfaction through excellent service and support.

Key Responsibilities:

Business Development:

• Identify potential corporate clients in need of employee benefits solutions, including Group Term Life Insurance Plan, Group Personal Accident, and Group Medical Plan/HMO Program, wellness programs, and other related services.
• Closes sales deals by negotiating pricing structures to best serve all stakeholders (Principal, Client, NCIA).
• Develop and execute strategic sales plans to meet revenue goals and grow NCIA's portfolio.
• Conduct prospecting, lead generation, and networking to build a pipeline of corporate clients.
• Present and demonstrate the value of employee benefits packages to decision-makers within prospective organizations.
• Develop strategies to expand NCIA's client base.

Client Relationship Management:

• Build and maintain strong relationships with key decision-makers, including HR Heads Procurement Officers, Benefits Administrators, and Executives.
• Serve as a primary point of contact, providing ongoing support and consultation to ensure client satisfaction.
• Manage client accounts from initial engagement through implementation and renewal processes, ensuring a high level of service and support.

Sales Execution:

• Achieve and exceed sales targets by closing new business and expanding relationships with existing clients.
• Prepare proposals, presentations, and contracts that reflect a deep understanding of client needs and the competitive landscape.
• Ensure timely and accurate follow-ups with clients throughout the sales process.

Market Research & Analysis:

• Stay informed of industry trends, competitive landscape, and regulatory changes in employee benefits to better advise clients.
• Monitor the benefits market for emerging products and innovations that could enhance sales offerings.
• Provide feedback to internal teams on client needs, market demands, and product improvement opportunities.

Client Support:

• Oversee the smooth transition, and implementation of benefits plans for new clients.
• Offer continuous support for renewals, claims assistance, and changes to employee benefits programs as needed.
• Proactively address any client concerns or challenges, ensuring their experience with the benefits plan is positive and meets expectations.

Sales Goals:

• Revenue Target
• Achieve a new premium sales for employee benefit products by the end of the fiscal year.

Client Acquisition:

• Secure a minimum of 2 new corporate client every week.
• Convert 80% of all new corporate client meetings into sales opportunities.
• Target at least 10 companies with more than 500 employees for comprehensive employee benefits packages by the end of fiscal year.

Product Mix:

• Increase the sale of Group Life Insurance and Group Personal Accident by 20% compared to the previous year.
• Aim to have 60% of all corporate clients purchase multi-line products (e.g., HMO, life, accident).
• Develop and sell customized benefits packages to at least 5 new clients.

Sales Activity:

• Conduct at least 4 client presentations/meetings per week.
• Make a minimum of 10 new prospect/cold calls per week.
• Attend and participate in at least 3 industry events to build new business relationships.