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21 days ago
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Business Development Manager - Legal (ATE) Insurance


Michael Page Sales
Basic Salary: £45000 - £75000 per annum + Excellent Bonus
Location: London
Job type: Permanent
Business sector: B2B
Contact: James McMillan
Category: Business Development Jobs
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An established yet niche firm acting as an intermediary for legal expenses insurance (ATE) is looking for a new Business Development Manager to join their London team.

Client Details

Business Development Manager - Legal (ATE) Insurance

The company acts as an intermediary for legal expenses insurance taken after the event ("ATE") to reduce the financial risk of an adverse outcome in litigation. They have several distinctive advantages over their competition in the market that support their proposition of "transforming legal expenses insurance":

  • Cover is available for claimants and defendants (typically, insurance has been provided for claimants only)
  • Cover is available for adverse costs, disbursements and own-side legal costs (typically, insurance has not been provided for own side costs)
  • Limits of indemnity can be provided up to £5m (typically, other providers can write limits up to £1.5m/£2m maximum)

The business operates with service standards that exceed those of all competitors. The organisation is soundly capitalised and is backed by long term investors. It is related to a long-established Litigation Funding business

Description

Business Development Manager - Legal (ATE) Insurance

Currently, the company originates opportunities from lawyers. To expand the pool of opportunity an additional sales-person is required to originate opportunities from other aggregators of "boardroom risk" (a category into which litigation naturally fits) such as corporate insurance brokers, consultancies, banks and private equity investors.

The metrics of success will be:

  • The number of new referrers of opportunity
  • The number and value of proposals received
  • The value of proposals that are accepted and go on-risk.

The role encompasses:

  • Identifying and targeting prospects
  • Getting a first meeting and propagating through the target organisation to reach the decision-maker/referrer
  • Generating a clear understanding of the benefits of the insurance proposition, underwriting criteria and the policy cost
  • Bringing in completed proposals for risk assessment by the underwriting team

To be successful, the individual is required to be highly effective at:

  • Cold prospecting and selling
  • Respecting hierarchy and adhering to decisions taken
  • Understanding and contributing to strategy development

The role has a London office base but is expected to be one which involves much off-site operation and, on occasions, foreign travel.

Specific Responsibilities/Objectives

  • Build new referrer relationships and develop new flows of insurance proposals.
  • Create a sales plan and be accountable for its delivery
  • Focus on new potential referrers: identifying, soliciting, developing and following-up all opportunities
  • Position for and spot openings, leads and prospects, make connections, network and 'keep an ear to the ground'
  • Actively manage referrer relationships
  • Ensure contact details and relationship history are kept up to date on the Salesforce platform
  • Maintain pipeline tracking on the Salesforce platform
  • Respond to referrer contacts in a manner that develops an appreciation of the organisation's high service
  • Provide advice and assistance with the professional development of other Team members at all stages of their careers.

Profile

Business Development Manager - Legal (ATE) Insurance

Key Skills and Aptitudes

A legal qualification is not required although interest in the sector is beneficial. The Role holder is expected to demonstrate the following:

MUST HAVE:

  • Track record of successful "cold" consultative selling to C-level. More hunter than farmer.
  • Demonstrable commercial awareness that can be evidenced through leadership of complex financial negotiations
  • Experience of working with insurance products, particularly those connected with boardroom risks
  • An outgoing and positive mind-set.
  • Self-motivation, with the drive and energy to achieve success
  • Excellent intellect and communication skills

Job Offer

As basic salary of between £45,000 - £75,000 (dependant upon experience)

Uncapped Bonus of approximately £40,000 - £50,000 per year

Additional company benefits

An established yet niche firm acting as an intermediary for legal expenses insurance (ATE) is looking for a new Business Development Manager to join their London team.

Client Details

Business Development Manager - Legal (ATE) Insurance

The company acts as an intermediary for legal expenses insurance taken after the event ("ATE") to reduce the financial risk of an adverse outcome in litigation. They have several distinctive advantages over their competition in the market that support their proposition of "transforming legal expenses insurance":

  • Cover is available for claimants and defendants (typically, insurance has been provided for claimants only)
  • Cover is available for adverse costs, disbursements and own-side legal costs (typically, insurance has not been provided for own side costs)
  • Limits of indemnity can be provided up to £5m (typically, other providers can write limits up to £1.5m/£2m maximum)

The business operates with service standards that exceed those of all competitors. The organisation is soundly capitalised and is backed by long term investors. It is related to a long-established Litigation Funding business

Description

Business Development Manager - Legal (ATE) Insurance

Currently, the company originates opportunities from lawyers. To expand the pool of opportunity an additional sales-person is required to originate opportunities from other aggregators of "boardroom risk" (a category into which litigation naturally fits) such as corporate insurance brokers, consultancies, banks and private equity investors.

The metrics of success will be:

  • The number of new referrers of opportunity
  • The number and value of proposals received
  • The value of proposals that are accepted and go on-risk.

The role encompasses:

  • Identifying and targeting prospects
  • Getting a first meeting and propagating through the target organisation to reach the decision-maker/referrer
  • Generating a clear understanding of the benefits of the insurance proposition, underwriting criteria and the policy cost
  • Bringing in completed proposals for risk assessment by the underwriting team

To be successful, the individual is required to be highly effective at:

  • Cold prospecting and selling
  • Respecting hierarchy and adhering to decisions taken
  • Understanding and contributing to strategy development

The role has a London office base but is expected to be one which involves much off-site operation and, on occasions, foreign travel.

Specific Responsibilities/Objectives

  • Build new referrer relationships and develop new flows of insurance proposals.
  • Create a sales plan and be accountable for its delivery
  • Focus on new potential referrers: identifying, soliciting, developing and following-up all opportunities
  • Position for and spot openings, leads and prospects, make connections, network and 'keep an ear to the ground'
  • Actively manage referrer relationships
  • Ensure contact details and relationship history are kept up to date on the Salesforce platform
  • Maintain pipeline tracking on the Salesforce platform
  • Respond to referrer contacts in a manner that develops an appreciation of the organisation's high service
  • Provide advice and assistance with the professional development of other Team members at all stages of their careers.

Profile

Business Development Manager - Legal (ATE) Insurance

Key Skills and Aptitudes

A legal qualification is not required although interest in the sector is beneficial. The Role holder is expected to demonstrate the following:

MUST HAVE:

  • Track record of successful "cold" consultative selling to C-level. More hunter than farmer.
  • Demonstrable commercial awareness that can be evidenced through leadership of complex financial negotiations
  • Experience of working with insurance products, particularly those connected with boardroom risks
  • An outgoing and positive mind-set.
  • Self-motivation, with the drive and energy to achieve success
  • Excellent intellect and communication skills

Job Offer

As basic salary of between £45,000 - £75,000 (dependant upon experience)

Uncapped Bonus of approximately £40,000 - £50,000 per year

Additional company benefits

Apply

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