Business Development Manager - Remote, United States - Thimble

Description

About Us

Thimble is a leading insurtech platform for small business customers and agents. Thimble allows customers to quickly get insurance coverage by the job, month or year using its award-winning app, website, or over the phone.

Founded by serial entrepreneurs Jay Bregman and Eugene Hertz, Thimble works with a variety of carriers to bring the best insurance solutions to small businesses, brokers and agents. Since it was founded, Thimble has delivered more than 170,000 policies to small businesses across the United States.

Thimble was acquired by Arch Insurance, a unit of Arch Capital Group Ltd. (Nasdaq: ACGL), a publicly listed Bermuda exempted company with approximately $15.6 billion in capital at Dec. 31, 2022. Arch, which is part of the S&P 500 Index, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.

Thimble's innovative culture and technical expertise are an incredible addition to Arch Capital's portfolio of offerings. The acquisition expands Arch's suite of digital solutions for small business customers and brokers. Thimble will remain a separate subsidiary, working closely with the Arch Group team.

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Our Values

Our unique culture is built around our six core values:

Think Wild, Act Tame

Be relentlessly creative. Question everything. Get to know the rules so well, you can use them in new ways. Be the industry's compliant radicals.

Green Means GO

Act. Move forward. Learn. You can only make a decision based on the best information you have – so make it.

Own Every Detail

Be ruthlessly precise. Disciplined. Sweat the small stuff.

Simplify, Simplify, Simplify

Get to the point. Make it crystal clear. Cut everything else. It's our job to make insurance easy – however hard that is for us.

Every Moment Counts

Show up early and ready. Deliver on time or before. Make the most of your time, so others can make the most of theirs.

Stay Human

Treat every person, and their ideas, with respect. Cherish diversity.

About the Role

As a key member of the Acquisition Team, we're hiring a Business Development Manager (BDM) who will be responsible for developing and executing sales strategies to drive revenue growth and market penetration within the defined territory through independent agents, brokers, and other distribution partners. This is an individual contributor role that will encompass overall agency management, including new partner acquisition and partner management focused on achieving metrics across KPIs, including New and Total Written Premium, new agency appointments, and visibility.

We are looking for a dynamic and results-driven insurance professional with agency and/or carrier experience who is passionate about the micro-small insurance segment. Being flexible, having an innate ability to cultivate relationships, having strong communication and interpersonal skills, and being technologically savvy will be paramount to this role's success.

This is a fully remote position based within the defined region, reporting to the Head of Broker Distribution.

Responsibilities

• Own the end-to-end ThimbleBroker experience for assigned agents, brokers, and other distribution partners. Act as Brand Champion among agents and industry professionals.
• Generate opportunities to acquire new business through business development activities initiated with assigned agents & brokers.
• Build relationships with key partnerships to assist in business development opportunities.
• Source and launch new partnerships with independent agents and brokers, wholesalers, and agency networks.
• Develop a strategic and tactical sales plan designed to achieve annual objectives.
• Maintain a minimum of 15 high-quality, proactive agency visits per week with key staff and agency leadership.
• Successfully document and track sales activities within CRM platform.
• Pipeline broker-led affinity partnerships, endorsed programs, and potential book consolidations for large-scale, strategic growth opportunities.
• Provide excellent customer service and act as a trusted advisor to agency partners and other stakeholders.
• Inform and influence the Commercial Insurance product roadmap based on a clear understanding of what brokers need from Thimble to become an even more effective partner.
• Collaborate with marketing to craft effective and regular communications with brokers to encourage consistent submission flow and strong renewal retention.
• Contribute to the future vision and strategy for distribution partnerships at Thimble.

Requirements

• 3+ years of sales/distribution experience within the P&C insurance industry, Small Commercial (ideally from a carrier or MGA) background preferred.
• Proven relationships within the Independent Agency and Aggregator networks, within defined territory.
• Proven history of developing partners and/or relationships leading to business growth.
• Business development management capabilities, including multi-tasking, prioritization, deadline management, and the ability to work both independently and with a team.
• Strong interpersonal, organizational, communication, and presentation skills.
• Ability to stay informed about market trends, competitor activities, and regulatory changes affecting the local and regional insurance marketplace.
• Analytical and data-driven with the ability to manage a balanced portfolio for strategic, long-term, profitable growth.
• Highly organized and self-motivated, with attention to detail and operational focus.
• Comfort with ambiguity and ability to proactively structure work and problem-solve independently.
• Able to assert discretion and professionalism when given access to confidential and private information.
• Bachelor's degree or equivalent experience is required.
• CIC, CPCU, P&C License, or other industry designations preferred.
• Ability to travel ~20% or less for conferences, agency visits, and internal meetings

What You'll Do in 30 Days

• Understand Thimble's company culture, insurance products, broker toolkit, systems, structures, and ways of working.
• Develop relationships with key internal partners and stakeholders.
• Learn CRM tools and how to manage, document, and track sales activities.
• Develop a foundational understanding of your defined territory and begin scheduling sales calls with the highest-priority partners.
• Utilize your established network of business contacts to create "buzz" in your territory with current and prospective agency partners and market access relationships.

What You'll Do in 60 Days

• Begin managingpre-defined territory, achieving minimum weekly required sales calls.
• Establish a presence in the territory and identify a pipeline of high-potential agency prospects.
• Ensure well-defined agency code management and hierarchy in the territory, allowing for scalable growth.
• Begin to prioritize territory and create a tactical strategy to achieve short and mid-term growth plans.

What You'll Do in 90 Days

• Establish command over Territory, pre-defined sales plan, and objectives. Begin to understand our 3-year plan and strategic vision for long-term success.
• Implement a formal annual territory sales plan with refined strategies based on feedback and current territory performance.
• Create key strategic initiatives and tactics that align to formal annual territory sales plan.
• Solidify oneself as a key member of the Acquisition Team as a valuable and effective member capable of driving results, achieving set goals, and providing valuable insights to bolster long-term success within the Broker Channel.

Thimbler Benefits & Perks

-Fully remote company

-Thimble Fridays (out of office at 12:00pm local time)

-Comprehensive health, vision, and dental coverage

-PTO: 20 days vacation, 8 floating days, 10 company-wide holidays, 1 VTO (Volunteer Time Off), and unlimited sick time

-Parental Leave: 100% paid 12 weeks + 2 weeks gradual return

-Company computer hardware of your choice

-Work from home setup reimbursement

-Monthly co-working space and/or child care reimbursement

-Monthly ClassPass credit

-Quarterly wellness reimbursement

-Other health & wellness perks including: One Medical, Teladoc, Talkspace, Kindbody, and Health Advocate

-Virtual events, happy hours, trivia, and fun