Company Description
Healthcare providers spend roughly $20B annually on premiums for medical professional liability (“MPL”) insurance, $7B of which is spent by physicians. Primarily selling through brokers, insurance carriers today often operate at an underwriting loss and employ outdated underwriting processes. The current environment favors the entry of a new model featuring modern, data-driven underwriting with a more efficient sales model targeting the best risks.
Rubicon Founders, an entrepreneurial firm focused on building and growing transformational healthcare companies, aims to address this issue through the launch of Indigo Insurance NewCo. Backed by Oak HC/FT, this company will disrupt the malpractice insurance market by offering more accurate and cost competitive products to health systems and providers. Benefitting from significant potential cost savings as a result, providers may reallocate resources to invest more directly in patient care. This company intends to fulfill Rubicon Founder’s mission of creating enduring value by impacting people in a measurable way.
Position Description:
The Director of Business Development (West Coast) will be responsible for executing strategies to acquire, expand and retain client accounts. This position leverages strong leadership capabilities to successfully develop, communicate, and execute a client acquisition strategy for assigned agency and broker partners; and build, lead, and engage all partners to deliver consistent results in current and future territories.
We are a remote distributed team who gathers with intention. You will thrive here if you find energy working from home and getting together to build relationships. At Indigo, you'll have the opportunity to contribute to a meaningful mission that makes a difference in the lives of healthcare providers and their patients.
KEY RESULT AREAS:
- Marketplace expertise
- Profitable new business growth
- Retention
Marketplace expertise
- Communicate marketplace knowledge and innovation to the Company’s internal teams
- Complete comprehensive marketing plan for sales including evaluation of competition, appointed agencies, market share, new market segments, and trends in the healthcare environment
- Utilize underwriting, product & technology teams to implement business development initiatives with a focus of clear differentiation of company products and services
- Remain current on industry trends, market activities, and competitors
- Maintain professional and technical knowledge by attending educational conferences and events
- Regularly review professional publications and maintain a robust personal network
Profitable new business growth
- Identify and evaluate new agency relationship partners
- Drive sales growth with brokers, agents
- Achieve annually established new business goals
- Create tangible results by successfully analyzing and responding to market trends
- Capitalize on new opportunities in the medical professional liability marketplace
- Develop and build strategic relationships with agency and broker partners, purchasing groups, associations and directly with potential customers to write new business
- Identify prospects and partner with underwriting colleagues to identify strategies to overcome barriers.
- Manages prospect pipeline and leverage data/tools to track progress.
- Participate in and create new opportunities within various healthcare association events to drive new customer relations
- Leverage technology, data and analytics, CRM and digital tools to manage pipeline of new business opportunities
Retention
- Achieve annually established retention goals once book of business is established
- Lead retention of profitable business within assigned book
- Develop, build and actively manage strategic relationships with agency partners, purchasing groups, associations and directly with customers to retain business
- Partner with underwriting colleagues on retention strategies for large, strategic relationships.
- Participate in and create new opportunities within various healthcare association events to retain and strengthen customer relations
- Lead and coordinate relationship management for large or strategic customers
- Leverage technology and tools to effectively retain and grow existing business
- Document service activity and maintain contact relationships in CRM tool
