Digital Business Development Manager

Job Type:

Build a brilliant future with Hiscox
 

Digital Business Development Manager

The Digital Business Development Manager role at Hiscox encompasses the activities and processes undertaken to improve our digital market position, expand our digital partnership base, and increase revenue and profitability within a defined geographic territory.

This role focuses on identifying and capitalizing on profitable growth opportunities through relationship management, strategic partnerships, sales execution, strategic territory planning, lead generation and market research. Core activities include building strategic digital relationships to drive new business submission flow and improve quote to bind ratios, implementing profitable growth strategies to achieve long-term business goals and identifying new opportunities to partner with new digital relationships.

Success is measured with a balanced scorecard with individual financial goals and territory KPI’s and behaviors to deliver on the Hiscox values. The Digital BDM plays a vital role in driving profitable business growth, expanding market presence, and ensuring long-term success.

The primary objective of the business development role is to identify and capitalize on opportunities for profitable growth and competitive advantage within appointed digital partnerships.

Key Accountabilities of the Business Development role at Hiscox:

• Relationship Management: Building and maintaining strong relationships with digital partners and stakeholders that are crucial to business development activities. As the primary contact for assigned relationships, this involves effective communication and collaboration to establish trust and mutually beneficial partnerships needed to achieve results.

• Annual Sales Targets and Territory KPI’s: Deliver on Hiscox’s digital sales process to drive financial results within assigned territory. Conducts annual sales planning, including the building and implementation of measurable initiatives, with assigned digital partners. Proactively manages goals to ensure monthly targets are met to achieve annual results and is responsible for obtaining and interpreting data to the business strategy forward.

• Strategic Territory Planning & Tactical Execution: Development of assigned territory’s overall strategic plan and execution on tactical initiative to achieve goals. Analyze market trends, competitive dynamics, and internal capabilities to identify growth opportunities and formulate plans to achieve business development objectives. Able to articulate the Hiscox value proposition clearly and consistently. Prioritize revenue generating activity to drive territory results forward. 

• Expand market presence: Keep a pulse on digital trends to identify new digital partners in assigned geography, partner needs, and emerging opportunities. Bring forth an understanding of the competitive landscape to make informed decisions about digital expansion.

• Data driven decision making: Understands the leading indicators and core metrics of a small commercial insurance business and leverages data to make decisions. Ability to collaborate and leverage internal resources to solve problems.

Qualifications and Skills: 

• Results-oriented mindset with a track record of meeting or exceeding targets. 

• Strong organizational skills and ability to manage multiple projects simultaneously. 

• Ability to analyze data, identify trends, and make data-driven decisions. 

• Excellent time/desk management and organizational skills to handle high volume of tasks.

• Excellent communication, interpersonal skills and the ability to work independently and collaboratively in a team environment.

• Proficiency in Microsoft Office, and other relevant software applications. 

• Knowledge of insurance products, distribution channels, and market dynamics. 

Additional Requirements of the Business Development role at Hiscox:

• Travel Requirements- Ability to travel 40% of the time.

• Prior insurance experience with a focus on small commercial insurance sales is required.

What We Offer:

• 401(k) with competitive company matching 

• Comprehensive health insurance, vision, dental and FSA plans (medical, limited purpose, and dependent care)  

• Company paid group term life, short- term disability and long-term disability coverage 

• 24 Paid time off days plus 2 Hiscox days,10 paid holidays plus 1 paid floating holiday, and ability to purchase up to 5 PTO days 

• Paid parental leave 

• 4-week paid sabbatical after every 5 years of service 

• Financial Adoption Assistance and Medical Travel Reimbursement Programs 

• Annual reimbursement up to $600 for health club membership or fees associated with any fitness program 

• Company paid subscription to Headspace to support employees’ mental health and wellbeing 

• 2023 Gold level recipient of Cigna’s Healthy Workforce Designation for having a best-in-class health and wellness program 

• Dynamic, creative, and values-driven culture 

• Modern and open office spaces, complimentary drinks 

• Spirit of volunteerism, social responsibility, and community involvement, including matching charitable donations for qualifying non-profits via our sister non-profit company, the Hiscox USA Foundation 

Salary Range: $115-$140K

The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment.

**Please note that this position is hybrid and requires two (2) days in our office weekly**

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