Business Development Executive (Insurance Broker) at Banksome Group of Companies

BankSome Group is made up of highly talented, diverse and motivated people who are dedicated to re-defining the business of Construction, Real Estate, Insurance Brokerage, International health Insurance, Bricks & Blocks, Wood & Aluminium, Renewable Energy and Property Management. Headquartered in Lagos, Nigeria and having presence in the United Kingdom and China. The company has developed a good business relationship with a vast network of experts around the world.

We are recruiting to fill the position below:

Job Title  Business Development Executive (Insurance Broker)

Location: Lekki, Lagos
Job Type: Full-time

Job Summary

• We are seeking a dynamic and results-driven Business Development Executive (Insurance Broker) to join our startup insurance brokerage firm.
• The Business Development Executive (Insurance Broker) is responsible for identifying and acquiring new clients, advising them on various insurance products, and ensuring seamless policy sales and renewals.
• This role requires strong networking, relationship management, and consultative selling skills to grow the company’s portfolio and revenue.

Job Responsibilities

• To identify and generate leads for potential individual and corporate clients.
• To promote, sell and close deals on high premium and various insurance products, including corporate, life, health, motor, property, marine, travel, specialized coverage and business insurance.
• Develop and implement sales strategies to meet and exceed targets.
• Conduct market research on competitors, industry trends and identify new opportunities.
• Build and maintain strong relationships with existing and prospective clients.
• Assess client needs and recommend suitable insurance coverage.
• Explain policy details, terms, and conditions clearly to clients.
• Ensure clients fully understand policy exclusions, benefits, and claim procedures.
• Provide after-sales support, including policy renewals and claims assistance.
• Work with underwriters to negotiate competitive premiums and policy terms.
• Ensure accurate documentation and submission of policy applications.
• Follow up on policy issuance and ensure timely delivery to clients.
• Handle client inquiries and complaints professionally and promptly.
• Develop strategies to improve client retention and referrals.
• Monitor and follow up on policy renewals to ensure continuity of coverage.
• Ensure compliance with industry regulations and company policies.
• Maintain accurate sales records and provide periodic reports.
• Stay updated on industry trends, new insurance products, and regulatory changes.
• Develop partnerships with corporate organizations, associations, and HNWIs to expand the firm’s client base.
• Represent the firm at networking events, business meetings, and industry conferences.

Key Requirements

• BSc in Business Administration, Insurance, Finance, or a related field.
• Minimum of 2-4 years of sales experience in an insurance brokerage or insurance company.
• Relevant professional certifications (e.g., CIIN – Chartered Insurance Institute of Nigeria) are a plus.
• Proven track record of closing high-premium insurance deals and meeting sales targets.
• Strong understanding of various insurance products, including life, health, property, and corporate insurance.
• Excellent communication, negotiation, and presentation skills.
• Ability to build and maintain relationships with high-net-worth clients and corporate organizations.
• Strong sales, negotiation, and persuasion skills.
• Excellent communication and interpersonal skills.
• Ability to analyze client needs and recommend suitable insurance solutions.
• Self-motivated, goal-oriented, and result-driven.
• Good knowledge of Nigerian insurance laws and regulations.
• Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint).

KPI (Key Performance Indicator):

• Number of new clients acquired weekly, monthly and quarterly.
• Total premium value of policies sold.
• Client retention and policy renewal rates.
•  Revenue contribution to the firm.

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should send their CV to: hr@banksomegroup.com using the Job Title as the subject of the mail.