Business Development Manager - Insurance

RAKBANK

Dubai

On-site

AED 200,880 - 312,480

Full time

14 days+

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Job summary

RAKBANK in Dubai is seeking a Business Development Manager for the insurance sector to drive growth by acquiring new clients and managing relationships. This pivotal role involves promoting commercial insurance products and ensuring compliance with UAE regulations.

The ideal candidate will have a degree in Business or a related field, a minimum of 5 years in commercial insurance sales, and a strong client-centric approach. An attractive monthly salary in the range of AED 18,000 to AED 28,000 is offered along with additional benefits.

Qualifications

Minimum 5 years of experience in commercial insurance sales, business development, or insurance relationship management.
Strong knowledge of commercial insurance products including group medical, workmen compensation, motor fleet, property, liability.
Proficiency in CRM tools and Microsoft Office Suite.

Responsibilities

Acquire new SME and Corporate clients across diverse UAE business sectors.
Prepare, present, and follow up on insurance proposals and quotations.
Track sales performance and report progress to management.

Skills

Commercial insurance sales

Business development

Client acquisition

Relationship management

Risk assessment

Insurance advisory

Negotiation skills

Sales reporting

Education

Bachelor’s degree in Business, Finance, Insurance, Risk Management

Tools

CRM tools

Microsoft Office Suite

Job description

Business Development Manager – Insurance

Location: Dubai, United Arab Emirates
Industry: Financial Services
Function: Sales
Experience: Minimum 5 years commercial insurance sales experience
Job Type: Full-time

Job Overview

The Business Development Manager – Insurance will support RAKBANK’s growth in the SME and Corporate insurance segment by acquiring new clients, managing relationships, promoting commercial insurance products, and coordinating with internal teams, insurers, and underwriters.

Key Responsibilities

Acquire new SME and Corporate clients across diverse UAE business sectors.
Build and maintain a strong sales pipeline through networking, referrals, market research, direct sales, and relationship development.
Identify new business opportunities and convert qualified prospects into active commercial insurance clients.
Conduct client risk assessments and recommend suitable insurance solutions based on business needs and risk profiles.
Promote and place commercial insurance products including group medical, workmen compensation, motor fleet, property, liability, and related coverage.
Prepare, present, and follow up on insurance proposals, quotations, policy terms, and renewal offers.
Meet assigned revenue targets and contribute to commercial insurance portfolio growth.
Track sales performance, update pipelines, monitor conversion ratios, and report progress to management.
Coordinate with finance and operations teams to support smooth premium collection, documentation, and policy processing.
Manage assigned client accounts as the primary relationship owner.
Oversee renewals, endorsements, coverage reviews, and service‑related client requirements.
Strengthen client retention by providing timely follow‑up, proactive advisory support, and suitable insurance recommendations.
Identify cross‑sell opportunities across SME, Corporate, Business Banking, Employee Banking, and related client portfolios.
Work closely with underwriters, insurers, internal teams, and external partners to structure appropriate insurance solutions.
Support clients during claims by coordinating with internal departments, insurers, and relevant stakeholders.
Maintain accurate client records, policy documentation, quotation files, renewal records, and communication history.
Ensure all KYC, AML, compliance, and documentation requirements are completed accurately.
Follow CBUAE insurance regulations, brokerage conduct standards, and internal governance requirements.
Avoid mis‑selling by aligning insurance solutions with client needs, eligibility, coverage requirements, and risk profiles.
Stay updated on UAE insurance market trends, competitor activity, regulatory changes, and product developments.
Provide advisory support to clients based on current insurance market insights and risk management best practices.
Submit regular sales reports, pipeline updates, client activity summaries, and revenue forecasts to management.
Represent RAKBANK professionally in client meetings, insurer discussions, and internal business development forums.

Ideal Profile

Bachelor’s degree in Business, Finance, Insurance, Risk Management, or a related field.
Minimum 5 years of experience in commercial insurance sales, business development, or insurance relationship management.
Strong knowledge of commercial insurance products including group medical, workmen compensation, motor fleet, property, liability, and related corporate coverage.
Good understanding of underwriting fundamentals, risk assessment, policy placement, renewals, endorsements, and claims coordination.
Proven track record of meeting or exceeding sales targets in a competitive insurance or financial services environment.
Strong understanding of UAE insurance market practices, CBUAE regulations, KYC, AML, and brokerage conduct standards.
Ability to acquire, manage, and retain SME and Corporate clients across multiple sectors.
Excellent communication, negotiation, presentation, and relationship management skills.
Strong client‑centric mindset with high integrity, professionalism, and commercial awareness.
Ability to work collaboratively with Business Banking, Employee Banking, Protego, insurers, underwriters, finance, operations, and claims teams.
Strong planning and follow‑up skills with the ability to manage pipelines, targets, documentation, and deadlines.
Proficiency in CRM tools and Microsoft Office Suite.
Insurance certifications such as CII or CPCU are an advantage.
Ability to provide practical advisory support based on client risk needs and market conditions.

Key Skills