Business Development Manager

Business Development Manager (Riyadh-based)

Main Purpose Of Job

The Business Development Manager will play a pivotal role in driving the firm's growth by identifying and securing business opportunities within the Saudi insurance sector. The purpose of the role is to enhance the firm's market presence, build lasting client relationships, and increase revenue by offering tailored consultancy services to insurance companies, brokers, and other stakeholders in the industry. The BDM will act as a bridge between client needs and the firm's service offerings, ensuring alignment with strategic objectives and industry demands.

Reporting Line: Direct report to Regional Head of Advisory; matrix report to COO.

Key Responsibilities

• Strategic Planning & Execution:
  Develop and implement a business development strategy tailored to the insurance sector, aligning with the firm’s overall goals.
• Identify and prioritize target markets and client segments within the insurance sector.
• Client Acquisition & Relationship Management:
  Proactively identify, qualify, and secure new clients within the insurance sector.
• Build and maintain strong relationships with decision-makers at insurance companies, brokers, and other industry stakeholders.
• Represent the firm at industry events, conferences, and networking opportunities to promote services.
• Market Research & Insights:
  Monitor industry trends, regulatory changes, and competitor activities to identify new opportunities.
• Provide insights and recommendations to adapt services to meet evolving client needs and market demands.
• Proposal Development & Negotiation:
  Prepare high-quality proposals, presentations, and service agreements tailored to client needs.
• Lead contract negotiations, ensuring alignment with company policies and profitability goals.
• Collaboration & Coordination:
  Work closely with internal teams, including consulting, marketing, and operations, to ensure seamless delivery of services.
• Provide feedback from clients to refine service offerings and improve client satisfaction.
• Performance Management:
  Set and achieve business development targets and KPIs, reporting regularly to senior management.
• Maintain accurate records of all sales activities, prospects, and client interactions using CRM systems.

Business Development KPIs/target

• Lead Generation:
  Secure a minimum of 2 qualified leads per month for the next 3 months.
• Proposal Requests:
  Achieve at least 2 requests for proposals (RFPs) per month during the probation period.
• Meeting Execution:
  Conduct at least 5 productive meetings (in person, online, or via phone) per week across the assigned regions.
• Sales Pipeline Growth:
  Build and maintain a robust sales pipeline with at least 1 qualified opportunity within 3 months.
• Client Engagement:
  Introduce at least 3 new clients or accounts with potential for business in the first 3 months.
• Commission set at 2% per minimum income collection.
• Target is subject to changes after 3 months.

Educational, Skills And Experience

• Bachelor’s degree in Business Administration, Marketing, Insurance, or a related field.
• Professional certifications (e.g., CII, CPCU) required.
• Minimum of 7 years of experience in business development, sales, or a related role within the insurance sector.
• Proven track record of generating revenue and closing deals with insurance companies, brokers, or loss adjusters.
• Strong understanding of the GCC insurance industry, including regulatory frameworks, market trends, and operational processes.
• Fluent in Arabic and English.
• Goal-oriented, self-motivated, and driven to succeed in a competitive environment.
• Strategic thinker with a proactive approach to identifying and solving challenges.
• Team player with the ability to collaborate across departments and lead initiatives.
• Excellent communication and interpersonal skills with the ability to build lasting relationships.
• Strong negotiation, presentation, and proposal writing abilities.
• Analytical mindset to assess market opportunities and client needs effectively.
• Proficiency in Microsoft Office Suite and CRM tools.