Full-Time

Business Development Associate

Posted on 10/25/2024

Ryan Specialty

Ryan Specialty

1,001-5,000 employees

Consulting
Financial Services

Compensation Overview

$52k - $65kAnnually

+ Bonus + Benefits

Entry, Junior

Richmond, VA, USA

Category
Business Development
Business & Strategy
Required Skills
Sales
Customer Service
Requirements
  • Minimum of 1 year of experience in Customer service or Insurance industry or a related field is preferred.
  • High School Diploma or equivalent.
  • Prescribed: Minimum requirements for state P&C and/or surplus line licenses.
  • Preferred: Certified Sales Professional (CSP)
Responsibilities
  • Executes business development plans in collaboration with management to drive growth and supports the leadership in the facilitation and closing of deals.
  • Maintains existing client relationships and provides outstanding customer service through regular follow ups and responding to any ad-hoc requests.
  • Works in collaboration with team leaders to develop new and enhance existing insurance agent and broker relationships.
  • Facilitates the timely and accurate flow of information by coordinating between customers and account members.
  • Answers inbound calls and/or chats from the queue, addressing general inquiries, complaints, and endorsement requests from clients.
  • Makes outbound calls to cross-sell other insurance products and services and close additional business.
  • Contributes to the preparation of marketing content such as monthly mailings, post cards, newsletters, etc.
  • Administers data into multiple systems and performs cleanup, including updating contact information of agents/brokers, removing duplicates, and maintaining accurate profiles.
  • Performs various other executive operational duties as required such as making travel arrangements or scheduling appointments and supports the Business Development team with any ad-hoc business request.

Company Stage

IPO

Total Funding

$705.5M

Headquarters

Chicago, Illinois

Founded

2010

Growth & Insights
Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
Simplify Jobs

Simplify's Take

What believers are saying

  • Acquisitions like Innovisk and Castel enhance competitive edge in specialty insurance.
  • Repricing of $1.65 billion term loan improves profitability by reducing interest expenses.
  • Expansion into new Chicago office space increases operational capacity and service delivery.

What critics are saying

  • Integration challenges with acquisitions like Innovisk may lead to operational inefficiencies.
  • Interest rate fluctuations could impact financial stability despite repricing efforts.
  • Dependence on key personnel in acquisitions like Castel poses leadership change risks.

What makes Ryan Specialty unique

  • Ryan Specialty's strategic acquisitions expand its market reach and product offerings.
  • The firm demonstrates effective financial management with successful loan repricing.
  • Ryan Specialty's commitment to growth is evident in its Chicago office expansion.

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