Offer summary

Qualifications:

At least 3 years of experience in business development within the insurance industry., Strong understanding of property insurance, group captives, and risk transfer strategies., Proficient in preparing and delivering compelling presentations., Excellent negotiation, communication, and interpersonal skills..

Key responsabilities:

Identify and develop new business opportunities within the insurance sector.

Bolster relationships with existing brokerage partners to enhance program integration.

Craft and execute strategies to communicate the benefits of financial products.

Prepare and deliver persuasive presentations and negotiate contract terms.

Job description

Are you a dynamic professional skilled in identifying and cultivating new business opportunities within the insurance industry? Do you have an understanding of property insurance and the ability to develop relationships that drive business growth? If this sounds like you, consider joining Understory as our Business Development Specialist.

In this pivotal role, you will leverage your expertise to expand our reach and introduce innovative property and casualty insurance products, including captives and other risk transfer programs, to new and existing markets. Your efforts will directly contribute to our strategic goals by forging strong relationships with key stakeholders and brokerage partners.

Your main role responsibilities will include:

Identifying and developing new business opportunities within the insurance sector through relationships with our brokers and producers.
Bolster relationships with existing brokerage partners to facilitate the further integration of Understory’s programs and foster collaborative strategic alignment.
Crafting and executing strategies that effectively communicate the benefits of our complex financial products, including group captives and risk transfer mechanisms.
Preparing and delivering persuasive presentations that communicate clearly and precisely
Negotiating terms and collaborating on contract discussions to secure favorable outcomes in line with strategic business objectives.
Keeping abreast of market trends and regulatory changes that impact property insurance and related financial products.
Providing valuable feedback from the market to internal teams to aid in product development and enhancement.

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

Have at least 3 years of experience in business development, particularly within the insurance industry.
Are skilled in developing and maintaining professional relationships and have a proven track record of growing business portfolios.
Possess an understanding of property insurance, group captives, and risk transfer strategies.
Are proficient in preparing and delivering compelling presentations.
Demonstrate excellent negotiation, communication, and interpersonal skills.
Have insurance licenses in property, casualty, and surplus lines.

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.

As a Business Development Specialist at Understory, you will not only enhance our market presence but also help shape the future of our innovative insurance solutions. We are excited to see the impact of your skills and dedication on our continued growth and success. Join us and be a key player in our journey to redefine industry standards.

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 is 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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