Business Development Director, Insurance

Role Description

The Business Development Director, Insurance will have the responsibility for developing and maintaining an active funnel of life insurance opportunities at Moors & Cabot. There are two primary channels for this role to develop business: Internal (estimated to be 25% of Opportunity) and External (estimated to be 75%+ of Opportunity: Green Field). The Business Development Director, Insurance will act as a liaison and relationship coordinator for our strategic partnership with Highland Capital as BGA. They will be responsible for building a business line at Moors & Cabot that supports the overall financial planning capabilities of existing relationships and establishing a new channel of opportunity.

This position exemplifies Moors & Cabot’s core values of Integrity, Service is Personal, One Team, Communication and Initiative by demonstrating the ability to find life insurance solutions for current and new clients specific to their needs as well as by working with the financial professionals and our BGA, Highland Capital, to uncover new business opportunities.

This full-time role reports to the Chief Growth Officer. Working hours are Monday – Friday 8:30 AM to 5:00 PM EST. This role is open to be located at the Boston, MA, Winter Park, FL or Naples, FL Moors & Cabot branches with hybrid flexibility.

Role Responsibilities

• Drive sales growth and build a consistently managed pipeline and ensure top tier prospects are effectively engaged through a collaborative and efficient process

• Create a revenue stream of small and medium sized business owners for life insurance policies for the owners and key employees (Key Man Insurance, Executive Policies, Etc.)

  • Implement strategic business development initiatives and marketing campaigns to drive new revenue streams from external clients

• Develop a strong channel of new leads through direct or indirect contacts, prospecting, and cultivation or nurturing of existing relationships

  • Identify and help develop strategic relationships with Highland Capital as our BGA

  • Educate and market to existing channel (Financial Advisors) to fully round out their financial planning capabilities

  • Coordinate internally with Financial Advisors interested in selling and delivering life insurance policies to their clients

• Research, qualify and track current and future internal and external business opportunities

  • Generate new business opportunities by qualifying leads and prospecting – making cold calls, sending emails, and leveraging social media

  • Lead targeted discovery calls with prospective buyers and book new business appointments

  • Track prospects and engagement outcomes in Client Relationship Management system; maintain disposition of each prospect as either being moved forward in the sales pipeline to a close, or qualified out/lost

• Consult with clients and prospective clients to assess insurance needs, budget, financial planning goals, and other relevant details

• Follow up with clients on a periodic basis to assess financial, family, and other changes that may warrant modification of coverage

• Promote and be a subject matter expert of M&C’s Insurance service offerings and industry thought leadership

• Research key market competitors and their product portfolios to ensure competitiveness

• Provide feedback and input for process improvement and delivery capabilities

• Comply with all management system data standards and data integrity (enters and maintains complete and accurate information)

• Continue to meet Continuing Education requirements for license renewal

• Maintain a professional demeanor to actively support and promote a positive public image of Moors & Cabot

Key Measurements

• Achievement of annual sales goals by providing regular feedback to the Chief Growth Officer on progress toward those goals

• Generation of new business opportunities by qualifying leads and prospects

• Revenue produced from existing client relationships through the financial professionals at Moors & Cabot

Minimum Requirements

• Bachelor’s degree or equivalent combination of education and experience

• Four (4) or more years of related work experience with life insurance policy administration

• Valid life insurance license

• Preference for securities licenses

• Experience with financial planning software

• Advanced negotiating/sales experience

• Excellent verbal and written communication skills

• Excellent planning, organizational and prioritization skills

• Strong organizational and analytical skills

• Strong leadership ability

• Ability to work independently and proactively

• Estimated 25-30% travel required

• Competent in the following Knowledge, Skills, and Abilities:

  • Customer Service

  • Attention to detail

  • Social Media

  • Reading, Writing, and Oral Expression and Comprehension

  • Basic Math

  • Social Perceptiveness

  • Time Management

  • Empathy

  • Teamwork

  • Critical Thinking and Problem Solving

  • Deductive and Inductive Reasoning

  • Sales

About Us

Since its founding in 1890, Moors & Cabot and its people have defined the meaning of

financial services. The firm has participated in the retail sale of stocks and bonds to

individuals and the institutional sale of stocks and bonds to most of Boston’s money

management firms. In addition to specializing in wealth management through full service

registered representatives, Moors & Cabot offers investors additional investment tools

such as cash management accounts, retirement planning, mutual funds, annuities and

other insurance products.

Moors & Cabot is an equal opportunity employer. All aspects of employment including the

decision to hire, promote, discipline, or discharge, will be based on merit, competence,

performance, and business needs. We do not discriminate on the basis of race, color,

religion, marital status, age, national origin, ancestry, physical or mental disability, medical

condition, pregnancy, genetic information, gender, sexual orientation, gender identity or

expression, veteran status, or any other status protected under federal, state, or local law.

We utilize the Department of Homeland Security’s employee authorization program,

E-verify. E-Verify confirms employment eligibility by comparing the employee’s Form I-9

information entered in E-Verify by the employer with the information in records available to

SSA and/or DHS.

Compensation

• Salary commensurate with experience

• Total Target Compensation of $200K +.

  • $200K Consists of: $65k – $75k base salary with upwards of $125k or more in variable compensation including commissions, bonuses, etc. and potential for growth from there dependent on revenue streams

• Total Rewards Benefits Package:

  • Medical, Dental & Vision

  • Short Term Disability, Long Term Disability, Life Insurance, and optional Supplemental Life insurance for employee, spouse, and dependents

  • 401k plans with yearly match

  • Flexible spending accounts

  • PTO: vacation, personal days, sick time, and volunteerism day to encourage community involvement