Business Development Manager

Choice International; Mumbai; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

Choice International is seeking a seasoned reinsurance broker to drive business development and negotiate terms with insurers and reinsurers. The role involves leading teams, managing high-value contracts, and ensuring compliance with IRDAI regulations.

Ideal candidates will have 6–8 years in insurance, with at least 5+ years in a senior role, and a strong understanding of General Insurance products. IRDAI Brokers Exam certification is preferred.

Qualifications

• Graduation / Post Graduation / MBA is required/desired.
• 6–8 years in insurance, with at least 5+ years in a senior role.
• Strong understanding of General Insurance products.
• IRDAI Brokers Exam certification is preferred.

Responsibilities

• Target achievement: Develop reinsurance market by seeking underwriting capacity and best terms.
• Business development: Source, manage, and grow high-value reinsurance contracts.
• Team leadership: Lead, mentor, and monitor teams for high productivity.
• Client engagement: Build strong insurer/reinsurer relationships for competitive terms.
• Compliance & operations: Adhere to IRDAI regulations, policies, and ethics.
• Market analysis: Track competitors, pricing trends, and opportunities for expansion.
• Operational coordination: Coordinate with sales, placement, operations, finance and claims teams.

Skills

Leadership

Networking

Negotiation

Client relationships

Business development

Analytical skills

Education

Graduation / Post Graduation / MBA

Job description

Position Summary:

This position involves driving business development by engaging with the Insurers as well as Reinsurers of repute and participate on reinsurance transactions as a reinsurance broker by negotiating best terms.

Key Responsibilities:

• Target Achievement: Develop reinsurance market by seeking underwriting capacity and best terms.
• Business Development: Actively source, manage, and grow high-value reinsurance contracts.
• Team Leadership: Lead, mentor, and monitor the performance of the teams to ensure high productivity.
• Client Engagement: Build and maintain strong relationships with insurers and reinsurers for competitive pricing and terms.
• Compliance & Operations: Ensure strict adherence to IRDAI regulations, company policies, and ethical standards in all transactions.
• Market Analysis: Track competitor activities, pricing trends, and market opportunities to provide inputs on expansion of business.
• Operational Coordination: Coordinate with sales, placement, operations, Finance and claims teams to ensure seamless service delivery.

Qualifications & Experience:

• Education: Graduation / Post Graduation / MBA
• Experience: 6 to 8 years of experience in the insurance industry preferably underwriting or reinsurance, with at least 5+ years in a senior role.
• Domain Knowledge: Strong understanding of General Insurance products.
• Certifications: IRDAI Brokers Exam certification is preferred.

Skills & Competencies:

• Excellent leadership and team management capabilities.
• Strong networking, negotiation, and communication skills.
• High proficiency in client relationship management and business development.
• Strong analytical skills to interpret market data and trends