Strategic Reinsurance Business Development Lead

Munich Reinsurance America, Inc; Princeton (NJ); On-site; USD 186,000 - 273,000; Full time

Benefits offered by this job

Health insurance

Employee wellness program

Life and disability insurance

401k match

Retirement savings plan

Paid holidays and PTO

Job summary

Munich Reinsurance America, Inc in Princeton, NJ is seeking a Business Development Manager to maximize profit potential for assigned P&C reinsurance prospects, clients and brokers. You will work with MR US underwriters and other units to deliver new products and value-added services, and serve as the primary contact for client relationships.

The role requires strategic thinking, relationship management and strong negotiation skills, with travel about 30–50%.

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.
• 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.
• 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%.

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.

Skills

Relationship management

Strategic thinking

Negotiation

Presentation skills

Sales orientation

Leadership

Insurance knowledge

Travel readiness

Education

Bachelor's degree in Business or equivalent

Job description

Munich Reinsurance America, Inc in Princeton, NJ is seeking a Business Development Manager to maximize profit potential for assigned P&C reinsurance prospects, clients and brokers. You will work with MR US underwriters and other units to deliver new products and value-added services, and serve as the primary contact for client relationships.

The role requires strategic thinking, relationship management and strong negotiation skills, with travel about 30–50%.