Full-Time

Business Development Representative

Updated on 11/15/2024

Federato

Federato

51-200 employees

AI platform for underwriting efficiency

AI & Machine Learning
Financial Services

Compensation Overview

$50k - $80kAnnually

Entry, Junior

Remote in USA

Category
Business Development
Business & Strategy
Requirements
  • Intense drive and dedication to task
  • Leads with curiosity to find unique ways to break into large complex accounts that are relationship-based.
  • Loves researching organizations, mapping out the people, getting in the mind of the people there, and setting up thoughtful outreach with them.
  • Very organized. High emphasis on systems, tools, data to scale up the work. Very detailed about tool use (CRM, etc.)
  • Experienced in leveraging sales overlay tools (6Sense, Zoominfo, Apollo) to maximize prospecting output and overall conversion.
  • Highly collaborative internally. Knows how to navigate the org, find the information they need, and turn it into useful prospecting tools.
Responsibilities
  • Development of systems & data flows that help us track key accounts
  • Continuous monitoring of news, changes, announcements, etc. that may lead to new opportunities.
  • Detailed account mapping of people/networks at the target accounts
  • Long-term relationship building with key contacts
  • Achieving this level of sophistication in our approach to key accounts requires strategic business development – a full-time role that partners closely with the Strategic Account Executives to foster these opportunities.
  • Leads nurture campaigns post-event with strategic named targets and uncovers opportunities for Strategic Account Executives to build relationships.

Federato.ai operates in the insurance industry, focusing on underwriting with its main product, RiskOps. This platform utilizes artificial intelligence to improve the underwriting process, enabling underwriters to make more accurate and efficient decisions. By streamlining operations, RiskOps helps insurance companies, particularly in the surety space, to provide faster and smarter services to their clients and agents. Federato.ai distinguishes itself from competitors by integrating AI into an industry that has been slow to embrace new technologies, allowing underwriters to concentrate on creative and strategic aspects of their roles. The goal of Federato.ai is to enhance the performance of insurance companies while reducing their operational costs through improved efficiency and accuracy in underwriting.

Company Stage

Series B

Total Funding

$38.9M

Headquarters

Palo Alto, California

Founded

2020

Growth & Insights
Headcount

6 month growth

25%

1 year growth

20%

2 year growth

68%
Simplify Jobs

Simplify's Take

What believers are saying

  • Federato's recent $25M Series B funding round, led by prominent investors like Caffeinated Capital, indicates strong financial backing and growth potential.
  • Strategic partnerships with companies like Cognisure and Ledgebrook enhance Federato's market position and expand its influence in the insurance industry.
  • The appointment of experienced leaders in marketing and sales, such as Lisa Khoury and Seth Egliht, positions Federato for accelerated market penetration and customer acquisition.

What critics are saying

  • The insurance industry’s slow adoption of new technologies could hinder Federato's growth and market acceptance.
  • High dependency on AI and data accuracy may pose risks if the technology fails to deliver expected results or faces regulatory challenges.

What makes Federato unique

  • Federato.ai's RiskOps platform leverages AI to enhance underwriting precision and efficiency, a significant advancement in an industry traditionally slow to adopt new technologies.
  • The integration with Google Cloud's AI capabilities further strengthens Federato's platform, offering insurers a more flexible and trustworthy AI journey.
  • Federato's focus on the surety space and its ability to deliver faster, more intelligent services sets it apart from broader insurance technology providers.

Help us improve and share your feedback! Did you find this helpful?