Full-Time
Director – Enterprise Sales & Business Development
Posted on 6/28/2024
Bestow
201-500 employees
Digital platform for life insurance solutions
Compensation Overview
$180k - $220k/yr
United States
Remote position with potential hybrid requirements.
Remote position with potential hybrid requirements.
Remote position with potential hybrid requirements.
| 🤝Sales & Account Management |
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| 📈Business & Strategy (1) |
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- 6+ years of work experience in business development, management consulting or enterprise SaaS sales
- Life insurance experience is a must- working in the industry, consulting insurance carriers or providing technology-enabled solutions to life insurance clients.
- Experience with enterprise sales/ partnerships that involved navigating clients’ organizations and securing buy-in from multiple decision-makers strongly preferred
- Hunter mentality with an ability to cultivate and grow net new relationships from scratch
- Desire and ability to take initiative, comfort with ambiguity, and a bias toward action
- Bachelor’s Degree or equivalent experience required
- Lead the business development process and account strategy for generating and developing business opportunities with large enterprise partners - life insurance carriers.
- Manage multiple opportunities through different stages of the business development cycle at one time, working with cross-functional teams as needed and serving as the primary partner contact during the business development process.
- Influence key decision makers at target carriers and position the Bestow Enterprise platform through value-based selling, business case definition, return on investment analysis, references, and analyst insight.
- Conduct in-depth discovery of carrier needs to inform Bestow Enterprise strategy and roadmap.
- Work to deepen relationships with carriers to expand into new products distribution channels and identify additional revenue opportunities.
- Set, track, and exceed the revenue goals for the Enterprise SaaS business.
Bestow provides a digital platform for purchasing life insurance, focusing on making the process quick and easy for individuals. The platform uses advanced underwriting technology to streamline the application process, allowing most applicants to receive an instant decision. Bestow's software solutions manage the entire insurance lifecycle, which helps reduce costs and enables the company to quickly introduce new products. Additionally, Bestow employs a sophisticated modeling engine to enhance customer data for better audience segmentation and marketing optimization. This data-driven approach allows for more efficient cross-selling and product routing. With coverage starting at $11 per month, Bestow has garnered positive customer feedback, achieving an excellent rating and an A+ from the Better Business Bureau, reflecting high customer satisfaction. The company's goal is to provide accessible and affordable life insurance while ensuring a seamless experience for its users.
Company Size
201-500
Company Stage
Series D
Total Funding
$307.5M
Headquarters
Dallas, Texas
Founded
2017
Simplify's Take
What believers are saying
- Bestow raised $120M in Series D funding for product development and platform expansion.
- The company is expanding into the annuities market to diversify revenue streams.
- Bestow's A+ BBB rating indicates high customer satisfaction and trustworthiness.
What critics are saying
- Increased competition from insurtech firms like Lemonade could impact Bestow's market share.
- Continuous platform updates may strain Bestow's financial resources.
- Regulatory scrutiny on data privacy could increase compliance costs for Bestow.
What makes Bestow unique
- Bestow offers a digital platform simplifying life insurance purchase processes.
- The company uses advanced underwriting technology for expedited insurance applications.
- Bestow's data solutions enhance customer segmentation and marketing optimization.
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Benefits
Competitive salary
Equity
Annual bonus based on company and individual performance
Flexible PTO plan
Medical, dental, & vision insurance
Paid parental leave
Annual lifestyle spending account
Flexible work-from-home policy
Learning & development opportunities
Growth & Insights and Company News
6 month growth
↑ 4%1 year growth
↓ -8%2 year growth
↓ -3%Bestow, a Dallas-based insurtech firm, has secured $120 million in series D funding to improve its software and introduce new underwriting capabilities. The funding round was co-led by Goldman Sachs Alternatives’ Growth Equity and Smith Point Capital, with participation from existing investors.
(tied) Bestow, $120M, life insurance: Dallas-based Bestow, a provider of life insurance software for carriers, raised $70 million in a Series D financing led by Goldman Sachs Alternatives and Smith Point Capital, as well as $50 million in debt financing from TriplePoint Capital.
Dallas-based insurance technology company Bestow Inc. has closed a $120 million oversubscribed Series D funding round, including primary and secondary investments.
In addition to the equity financing, Bestow also secured a $50M credit facility from TriplePoint Capital.
Bestow Inc., an insurance technology company, closed a $120 million oversubscribed Series D funding round, co-led by Growth Equity at Goldman Sachs Alternatives and Smith Point Capital. Additionally, Bestow secured a $50 million credit facility from TriplePoint Capital. The funds will support product development and platform expansion in the life and annuities space. Ashwin Gupta from Goldman Sachs will join Bestow's board. The company has achieved significant growth and expects continued exponential expansion.