Business Development Manager

About the role

We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

Responsibilities

• Create, prioritize and implement forward looking client strategies for all assigned clients and prospects, in line with MRUS Key Priorities and Line of Business Strategies.
• Create, prioritize and implement forward looking broker strategies that go beyond the transaction.
• Thinking beyond the current portfolio to imagine a target picture and future possibilities to generate profitable revenue that does not exist today.
• Lead client team in developing new business opportunities and servicing the in-force business.
• Ensure consistent understanding of target objectives and strategy for achieving desired outcomes.
• Develop negotiation strategies and tactics to ensure achievement of financial objectives for assigned clients.
• Partner with Underwriting, Claims and Actuarial to establish final terms for individual placements including share size, price and other relevant terms and conditions.
• Develop and maintain deep and thorough understanding of assigned clients and brokers, particularly of their key underwriting, capital and risk management objectives.
• Build strong relationships with client & broker staff that can provide strategic insights on evolving needs and value derived from the Munich Re (MR) relationship.
• Manage client & broker relationships, establishing MRUS’s position consistent with our segmentation strategy (e.g., the lead reinsurer for our most desirable clients).
• Serve as primary point of contact within Munich Reinsurance America, Inc. (MRAm) for assigned clients and their designated brokers as respects traditional reinsurance business.
• Market the full Munich Re Group product range, including pitching new products and services as appropriate for the client’s needs.
• Share the Munich Re perspective on important industry issues at industry events and individual client/broker meetings.
• Contribute, as needed, to broker marketing activities and other initiatives to develop new products/services or improve operating effectiveness.

Qualifications

• Bachelor’s degree in Business and/or equivalent work experience
• Approximately 10 years of Reinsurance and/or relevant Insurance experience (underwriting, account executive, and/ or actuarial preferred)
• Strategic thinker who can develop effective action plans to achieve desired outcomes
• Entrepreneurial spirit
• Strong interpersonal and social skills with a special focus on relationship management
• Strong leadership skills needed to manage client teams in a matrix reporting environment
• Effective presentation skills with ability to explain complex transaction structures to both technical and non-technical audiences
• Strong sales orientation with ability to make a compelling link between MR offerings and critical client needs.
• Ability to handle tough negotiations that result in win-win outcomes.
• In-depth knowledge of insurance and reinsurance principles and procedures
• Familiarity with accounting, finance and actuarial concepts
• Experience with Primary Insurance and non-traditional products
• Willingness to travel about 30-50%

Benefits

• health insurance coverage
• an employee wellness program
• life and disability insurance
• 401k match
• retirement savings plan
• paid holidays
• paid time off (PTO)

Pay

The base salary range anticipated for this position is $185,800 - $272,500, plus opportunity for company bonus based upon a percentage of eligible pay. The salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton, NJ. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.