Business Development Coordinator

Understory, Inc.; United States; Remote; USD 70,000 - 90,000; Full time

Job summary

Understory, Inc. is seeking a Business Development Coordinator who will expand its brokerage network and manage crucial broker relationships. The ideal candidate will excel in negotiation and strategy implementation, ensuring alignment with company goals while fostering partnerships. A competitive salary and benefits package awaits the right professional ready to impact the insurance industry.

Benefits

Competitive base salary and commission plan

Comprehensive benefits package including health, dental, and vision insurance

401(k) plan

Qualifications

• 3 years of relevant experience in distribution or sales within the insurance industry.
• Strong track record in managing complex transactions and negotiations.
• Experience in Dealer’s Open Lot and Commercial Property Insurance is a plus.

Responsibilities

• Maintain relationships with brokerage partners to integrate Understory’s programs.
• Manage complex transactions and negotiations with broker partners.
• Track and analyze performance of broker partnerships.

Skills

Negotiation

Communication

Relationship Management

Attention to Detail

Organizational Skills

Education

Bachelor’s degree in Business Administration, Finance, Marketing, or a related field.

Tools

SalesForce

Job description

Are you an experienced distribution professional with a proven track record in the insurance industry, particularly in managing complex broker relationships and transactions? Do you thrive in strategic roles where negotiation, partnership development, and clear communication are key? If this sounds like you, consider advancing your career as a Business Development Coordinator at Understory.

As a Business Development Coordinator, you will play a pivotal role in expanding and enhancing our brokerage network, bringing into Understory’s innovative insurance programs. You will be responsible for working closely with brokerage partners, understanding their needs, coordinating with them to develop new business, and ensuring their alignment with our strategic objectives. Your expertise in implementing key broker strategies, as well as facilitation and support with closing deals, will be crucial in driving our growth and presence in the market.

Your main role responsibilities will include:

• Maintaining our existing strong relationships with brokerage partners to facilitate the integration of Understory’s programs, fostering proactive, positive stakeholder interactions that encourage trust and alignment.
• Managing complex transactions and future client negotiations with new and existing broker partners, combining empathy and keen attention to detail to identify stakeholder objectives, address challenges, and secure long-term partnerships.
• Leveraging your experience to maximize partnership opportunities, serving as a critical advocate for both Understory and brokers by tailoring solutions that meet shared goals.
• Implementing key strategies and initiatives that align with broker needs and Understory’s strategic goals, maintaining a structured approach to project and process management to ensure timely execution and minimal oversight.
• Preparing and delivering impactful presentations and materials for internal stakeholders and external broker meetings, emphasizing clarity, thorough documentation, and strong messaging to drive stakeholder engagement.
• Tracking and analyzing the performance of broker partnerships to ensure alignment with business objectives, adopting a detail-oriented approach to data management and reporting while promptly identifying trends and opportunities.
• Administering pipeline and contact data into SalesForce and performing clean-up to support execution speed for the Understory team, demonstrating precision in data handling and documentation to promote accuracy and efficiency across the organization.
• Collaborating with cross-functional teams to gather insights and support that enhance broker relations and program offerings, embracing flexibility, adaptability, and open communication to bolster team collaboration and drive collective success.

You're exactly the professional we're looking for if you:

• Hold a Bachelor’s degree in Business Administration, Finance, Marketing, or a related field.
• Have at least 3 years of relevant experience in distribution or sales within the insurance industry, particularly with a focus on broker production support.
• Demonstrate a strong track record in managing complex transactions and negotiations, showcasing stakeholder advocacy by balancing client needs with priorities.
• Possess deep knowledge of the brokerage landscape and key market drivers, exhibiting the insight and adaptability needed to thrive in a dynamic market.
• Are skilled in preparing and delivering persuasive presentations and detailed reports, communicating clearly and precisely, and leveraging documentation expertise to inform decision-making.
• Exhibit excellent interpersonal, negotiation, and communication skills, approaching stakeholder relationships with empathy and a commitment to building enduring partnerships.
• Are highly organized and capable of managing multiple priorities in a dynamic environment, excelling at detail orientation to ensure timely delivery.
• Experience in Dealer’s Open Lot and Commercial Property Insurance is a huge plus.

Compensation includes:

• Competitive base salary and commission plan, commensurate with experience.
• Comprehensive benefits package including health, dental, and vision insurance, plus a 401(k) plan.

Join Understory as a Business Development Coordinator and be at the forefront of expanding our innovative insurance solutions through strategic brokerage partnerships. Your leadership and expertise will not only drive our distribution channels but also strengthen our position as a leader in the insurance industry. We look forward to your contributions and the dynamic impact you will have on our team, partners, and clients.

About Understory

Understory is a leading provider of insurance solutions built for the era of climate change. The company's global network of Dot weather stations powers the world's most sophisticated weather risk model. By combining mutualized, optimized risk structures with precision weather technology and modeling, Understory develops affordable, stable property insurance solutions.

Traditional insurance is no longer fit for purpose. Natural catastrophes driven by the volatility of climate change are increasing rates and restricting coverage. Insurance and reinsurance companies are pulling out and leaving 76% of global assets unprotected. Transformation is inevitable, and it's coming to the global insurance market. Understory cracked the code, and our approach is the only way to close this gap.

Comprising a compact yet fiercely dedicated & passionate remote team, Understory is a mission-centric, results-driven start-up that thrives on relentless adaptability and resilience. We cherish accountability and push the limits at breakneck speeds, always backed by the unwavering support of our colleagues. To sustain our drive, we place significant emphasis on work-life harmony, nurturing our families, and fostering our communities.

Understory, headquartered in Madison, Wisconsin, is poised to rewrite the story of insurance. To embark on this exciting journey with us, visit www.understoryweather.com.

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