Head of Broker Relations - Commercial Insurance (REMOTE)
Foresight Commercial Insurance
Foresight Risk and Insurance Services, Inc. ("Foresight") is looking for a Head of Broker Relations with a long-standing history working with brokers and agents in Commercial Insurance. This role is all about forging relationships, the sales management of assigned brokers/producers, generating multi-million dollar program submissions over time, and developing key relations with the territory’s agents and brokers. The role involves setting in motion sales plans and driving the necessary strategies and marketing actions needed to maximize profitable growth for Foresight in this territory, along with leading the Broker Relations team.
The ideal candidate has a proven background in commercial insurance program marketing and has existing relationships with commercial brokers and agents, along with experience leading a team. We are looking for a competitive professional to source brokers, open relationships, close sales and achieve sales targets. This role will be 75% individual contribution and 25% team management. Workers Compensation experience is a must. This role will report to the CEO.
Far too many workers in high-risk industries are injured on the job, or worse, never make it home to their families at all. Foresight sees a future where workplace injuries are a thing of the past. We accomplish this through our two visionary brands: Foresight Insurance and Safesite.
As the insurer of the future, our workers’ compensation insurance brings real-time safety engagement technology and dedicated safety coaching together to turn insight into action, driving down business costs and reducing claims. Powered by our proprietary Safesite technology, we blend a custom-tailored safety program with dedicated consulting services, improving client safety behavior and helping eliminate accidents and claims. In a 2022 study, we demonstrated a capability to reduce claims frequency for clients by 18% in just the first year. Deploying the latest technologies into the field and capturing critical safety and risk data from the frontline workers, we link safety performance to insurance and pricing—informing our underwriters’ ability to provide a holistic and competitive quote to our brokers and clients.
Foresight is backed by strong global investors and completed an impressive Series B raise in 2022, bringing funds raised to $59 Million. Safesite’s innovative Safesite Score is patented. We consistently rank on numerous global top insurtech lists.
About our Culture
Our team of bright, energized, and motivated people come from a vast array of backgrounds and industries. They are drawn to Foresight by our purpose, our fresh approach to work/home balance and wellness, and by our commitment to our values: Simplicity, Tenacity, Comradery, Aim Higher, Home Safe, and Be Agile.
Our ideal candidates are dynamic self-starters with a sense of teamwork, a commitment to moving the insurance and safety industry forward, and an appreciation for the work and industries our clients dedicate themselves to.
- Oversee the Broker Relations team
- Collaborate with leadership on growth strategy and execution to support expansion initiatives
- Develop, implement and drive targeted class code sales plans with both current brokers and new brokers to meet Foresight’s profitable growth goals.
- Work with the Head of Insurance to identify, develop, implement, and manage program sales plans with target groups of brokers to meet Foresight sales goals.
- Monitor new sales, retention, rate-adequacy, and commission metrics monthly to ensure premium plan goal achievement.
- Work closely with all company departments to optimize Foresight’s brand offering to the marketplace.
- Build relationships with direct broker contacts and sell directly to targeted prospects/clients.
- Develop ongoing sales prospecting and strategy while also qualifying deals originating from within your assigned territory.
- Route qualified opportunities to appropriate team members when necessary.
- Drive submissions through various methods such as direct calling, marketing, e-campaigns, and building your list of contacts.
- Hit quarterly sales goals, including business development activity metrics and premium targets.
- Represent the Company at conferences, broker meetings, association presentations and trade shows.
- Conduct competitive analysis on territory to determine focus of new business.
- Gain a deep understanding of territory opportunities and challenges, inform the underwriting team and develop strategies to successfully sell programs.
- Research potential broker partners, identify key contacts and decision-makers, initiate calls, and generate interest.
- Attend periodic sales training and be open and responsive to coaching.
- Ability to travel, as necessary, to complete the responsibilities outlined above.
- At least 7 years of experience working in commercial insurance
- 7+ years of proven field sales experience
- Must have prior management experience
- Must have prior experience in underwriting or marketing workers compensation insurance programs
- Must have an existing network of commercial insurance brokers in territory
- Track record of over-achieving quotas
- Strong presence and highly articulate on the phone and in-person
- Experience working with technology, including a CRM tool
- Excellent written communication skills
- Ability to stay organized, prioritize and manage time effectively
- Industry-leading career development opportunities
- Competitive salary
- Generous paid time off including14 paid holidays, personal days and paid sick leave
- Medical, dental, and vision insurance
- Monthly wellness stipend
- Home office equipment provided to create a comfortable and productive work set up
- Learning and development stipend to use on courses, conferences, or other upskilling opportunities
- Paid parental leave
As a fully remote company, the compensation range provided is based on a wide range of factors including, but not limited to, skill sets, experience, and other business and organizational needs and is based on national averages*. At Foresight, and its subsidiaries, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the current range is $225,000 - $275,000 + bonus + equity.
*Location will be considered if the role is required to be located in a certain geographic area