Business Development Executive

Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.

Job Summary:

Solicit and produce new clients for FM’s St. Louis Operations (Minneapolis and St. Louis offices). Maintain a healthy pipeline of new business opportunities through effective prospect outreach, funnel management and calling activities. Develop strong relationships with prospects, brokers, consultants and insurance professionals throughout the industry and local marketplace. Collaborate with and lead our client service teams to deliver a client centric proposal that articulates the value of doing business with FM. 

Schedule and Location:

This position can be based out of either Minneapolis or St. Louis and requires travel throughout the St. Louis Operations territory (~40%+ annually).

Responsibilities:

• Achieve the annual new business objective by balancing our dual delivery channels of direct as well as opportunities through our brokered partners.

• Maintain a healthy pipeline of new business opportunities through effective calling and funnel management activities.

  • Develop and maintain a list of opportunities to call and develop hand in hand with operations management teams.

  • Keep prospect information in SRS current, accurate and updated as new information is developed during the sales process

  • Achieve the annual call goal including in person calls to prospects at various stages of the sales funnel

    • All calls will be planned, executed and recorded in SRS using the Sphere Consultative Selling Framework skillset

• Understand the business needs of our prospective clients

  • Craft and execute a sales journey with internal and external stakeholders leading to a winning proposal at a high success rate.

  • Deliver a client centric proposal that articulates the value of doing business with FM and links their specific needs with the services that FM Global can deliver

• Lead through influence internal work groups to formulate strategies to maximize our hit ratio on new business

  • Use of Whiteboarding to identify what is important to the prospect and how FM’s value proposition can deliver on those needs

  • Develop and deliver internal and external road maps of the prospect journey

  • After CST assignment, lead the team in collaborative development, maintenance, and execution of the situational analysis

• Through actively participating in meetings, conferences and appearing at industry-related functions; build and maintain FM’s brand and market expertise as a subject matter expert in the commercial property insurance industry as well as relationships with brokers servicing this industry. Keep apprised of our competitor’s products and services.

Required Education:

• Bachelor’s Degree or equivalent combination of education and experience

Highly Preferred Education:

• Advanced degree in business, marketing, or engineering

• Chartered Property Casualty Underwriter Designation (CPCU)

• The Associateship of the Chartered Insurance Institute (ACII)

Required Work Experience:

• 3+ years in the insurance industry

Highly Preferred Work Experience:

• 3+ years as an Account Manager or similar client-facing role

• Underwriting knowledge

• Prior sales experience

Highly Preferred Technical Skills:

• Excellent interpersonal skills

• Knowledge of property insurance policy forms

• Presentation and negotiation skills

• Loss Prevention Engineering concepts

• Knowledge of competitors and brokers

The final salary offer will vary based on individual education, skills, and experience. The position is eligible to participate in FM’s comprehensive Total Rewards program that includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.

 
FM is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.