Business Development Manager - SMB
Posted Updated
Description
Location: Bengaluru
Compensation: Up to 4.5 L Fixed + Incentives
Compensation: Up to 4.5 L Fixed + Incentives
The Role
We're looking for a Business Development Manager to drive new business growth across the Employee Benefits vertical. You'll be responsible for acquiring and closing SMB accounts while owning the complete sales cycle from prospecting to closure.
This role requires a consultative sales approach, strong relationship management, and the ability to navigate complex buying processes involving HR, Finance, and leadership stakeholders. You'll work closely with Placement, Client Success, and internal teams to deliver competitive solutions and create long-term client partnerships.
Success in this role is measured by revenue generation, new customer acquisition, pipeline quality, and the ability to consistently close high-value opportunities.
What You'll Own
- Revenue: Own new business revenue by acquiring and closing Employee Benefits accounts across SMB.
- Sales Pipeline: Build and manage a healthy sales pipeline through outbound prospecting, referrals, existing relationships, and strategic opportunities.
- Sales Cycle: Lead the complete sales process including discovery, solution design, proposal development, commercial negotiations, and contract closure.
- Client Relationships: Develop and maintain relationships with CHROs, HR Heads, CFOs, Finance leaders, and other key decision-makers throughout the buying journey.
- Cross-functional Collaboration: Partner with Placement, Underwriting, Client Success, and Operations teams to deliver competitive proposals and seamless client onboarding.
- Market Intelligence: Continuously gather market feedback, competitor insights, pricing trends, and customer requirements to strengthen Nova's go-to-market strategy.
What We're Looking For
- Minimum 6 months of experience specifically with a licensed insurance broking firm in business development or enterprise sales. Experience in Employee Benefits is preferred.
- Demonstrated track record of consistently achieving and exceeding revenue targets, including generating revenue equivalent to at least 2.5x your annual fixed compensation over the last 12 months.
- Experience independently closing Employee Benefits accounts with annual premiums ranging from ₹5 lakh to ₹30 lakhs.
- Established relationships with CHROs, HR Heads, CFOs, and Finance leaders that can be converted into business opportunities.
- Strong consultative selling, negotiation, stakeholder management, and executive communication skills, with the ability to manage complex sales cycles involving multiple decision-makers.
- Good understanding of corporate insurance products, renewals, pricing, placement, and client servicing.
- Strong placement and pricing expertise, with the ability to leverage insurer relationships, influence pricing through commercial and structural levers, understand claims and portfolio dynamics, and collaborate effectively with placement teams to deliver competitive client outcomes.
Why This Role
- Own a high-impact revenue portfolio with significant growth potential.
- Work directly with experienced leaders in one of India's fastest-growing insurance brokers.
- Build relationships with leading enterprises and decision-makers across industries.
- Join a performance-driven culture where growth is based on impact and results.
- Earn industry-leading performance incentives with significant upside beyond fixed compensation.
- Be part of a modern, technology-first insurance brokerage transforming how businesses buy and manage employee benefits.
How We'll Measure Success (First 6–12 Months)
- New business revenue generated.
- Achievement of sales targets and quota attainment.
- Number and value of new SMB accounts acquired.
- Sales pipeline quality and conversion rates across each stage.
- Average deal size and sales cycle efficiency.
- Client retention during the initial engagement period.
- Contribution to overall business growth through strategic account acquisition.
