Business Development Executive - Insurance Partnerships (Schaumburg)

About Rate Insurance:

Rate Insurance is an independent insurance brokerage offering an unmatched value proposition to our customers, our referral partners, and our team members. Our unique business model allows us to consistently achieve new heights and redefine excellence, which has positioned us as a top 50 personal lines agency and top 100 property and casualty agency. Since 2012, we have achieved organic double-digit growth, year over year, and now represent over 100 different property and casualty insurance providers in 50 states.

Rate Insurance helps Account Executives grow their business, build their brand, have a better quality of life, and make more money. As an Account Executive, you will have a support team that handles all non-sales related activities, so you can focus on growing your book of business and cultivating new relationships.

Position Title: Business Development Executive, Insurance Partnerships

Position Summary

The Business Development Executive will lead the acquisition, and growth of insurance partnerships. This role is responsible for identifying new business opportunities, negotiating strategic agreements, expanding market presence, and driving revenue growth through innovative partnership initiatives. The ideal candidate is a highly motivated sales and relationship leader with deep insurance industry expertise, strong executive presence, and a proven track record of building high-value partnerships.

Key Responsibilities

Partnership Development & Growth

1. Develop and execute a comprehensive partnership execution strategy to drive insurance distribution growth.
2. Identify, evaluate, and secure new partnerships such as affinity groups, lenders, real estate organizations, builders and other distribution channels.
3. Establish and maintain relationships with executive-level stakeholders across the insurance ecosystem.
4. Negotiate partnership agreements, revenue-sharing arrangements, and strategic alliance contracts.
5. Build a robust pipeline of partnership opportunities and manage them through the full business development lifecycle.

Strategic Leadership

1. Collaborate with senior leadership to define growth objectives and market expansion strategies.
2. Analyze market trends, competitive dynamics, and emerging opportunities within the partnership ecosystem.
3. Develop business cases, partnership models, and go-to-market plans that support organizational growth initiatives.
4. Represent the company at industry conferences, trade events, and executive networking functions.

Revenue & Performance Management

1. Drive partnership-generated revenue and achieve established growth targets.
2. Create and monitor key performance indicators (KPIs) related to partnership activity, production, and profitability.
3. Provide regular reporting and forecasts to executive leadership regarding pipeline health, partnership performance, and market opportunities.
4. Identify opportunities to increase partner engagement, production, and retention.

Cross-Functional Collaboration

1. Work closely with sales, operations, marketing, product, technology, and carrier relations teams to ensure successful partner onboarding and execution.
2. Champion partner needs internally and drive solutions that enhance the partner experience.
3. Support the development of co-marketing programs, lead-generation initiatives, and joint business planning activities.

Qualifications

Required

1. Bachelor’s degree in Business, Marketing, Finance, Insurance, or related field.
2. 10+ years of business development, strategic partnerships or sales leadership
3. Demonstrated success in sourcing, negotiating, and managing complex partnership agreements.
4. Strong understanding of insurance distribution channels, carrier relationships, underwriting operations, and regulatory considerations.
5. Proven ability to influence senior executives and build long-term strategic relationships.
6. Exceptional presentation, negotiation, and communication skills.
7. Experience managing a sales pipeline and exceeding revenue targets.

Preferred

1. Existing network of insurance carrier, agency, and industry executive relationships.
2. Experience working with InsurTech, mortgage, real estate, affinity, or financial services partnerships.
3. MBA or advanced business degree.
4. Insurance industry designations (CPCU, CIC, ARM, CRM, or similar).

Competencies

1. Strategic Thinking
2. Executive Relationship Management
3. Negotiation & Influence
4. Revenue Growth Mindset
5. Market Analysis
6. Collaboration & Team Leadership
7. Business Planning
8. Results Orientation

Key Performance Metrics

1. New partnership agreements executed
2. Partnership-generated revenue growth
3. Quarterly pipeline value and conversion rates
4. Carrier and partner satisfaction scores
5. New market penetration and channel expansion
6. Retention and production growth of existing partners

Reporting Structure

Reports to: President or VP of Insurance Partnerships

Compensation

1. Competitive base salary
2. Performance-based bonus and incentive plan
3. Long-term incentive opportunities (where applicable)
4. Comprehensive benefits package

Ideal Candidate Profile

A high-performing insurance executive who combines strategic vision with hands-on business development execution. This individual possesses deep industry relationships, excels at creating mutually beneficial partnerships, and consistently drives measurable revenue growth through innovative insurance distribution strategies.

Benefits

We have an excellent compensation and benefits package designed to award you for excelling in your role. We also have a fun, competitive, hard-working culture that makes Rate Insurance a place where people want to come to build their careers and be their best. Some of the benefits of your compensation package will include:

1. Annual Salary with the opportunity to earn Commissions and Incentives
2. Employee Development Programs
3. Medical, Dental, Vision, and Disability Benefits
4. 401k
5. Free CE credits to keep up with licensing
6. Company Paid Holidays and Paid Time Off
7. Paid Health/Wellness Day and Volunteer Day

Rate, Inc. and Rate Insurance, LLC are Equal Opportunity Employers that welcome and encourage all applicants to apply regardless of age, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy, or other reason, as protected by law.

Applications will be accepted on an on-going basis

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