Trade Credit Business Development Manager

About the Division

The Commercial Distribution Division is responsible for growing UOI's commercial insurance business across multiple distribution channels, including intermediaries, bancassurance, direct channels and strategic partnerships. The Division develops holistic and bespoke insurance solutions for commercial customers while delivering service excellence and strengthening UOI's market presence.

Job Purpose

To drive the growth and development of UOI's Specialty Lines portfolio, with primary responsibility for Trade Credit Insurance.

The role will identify and develop new business opportunities, build strong relationships with clients and business partners, and work closely with underwriting and internal stakeholders to develop commercially viable insurance solutions.

The Business Development Manager will be accountable for building a sustainable pipeline of Trade Credit opportunities and converting these into profitable business while maintaining appropriate underwriting and risk discipline.

Main Responsibilities

1. Business Development & Growth

• Develop and execute the business development strategy for Trade Credit Insurance, supporting the overall growth objectives of the Specialty Lines portfolio.
• Generate new business through brokers, corporate clients, banks, financial institutions, trade finance partners and other relevant distribution channels.
• Identify target industries, customer segments and distribution opportunities where Trade Credit Insurance can address customers' receivables and counterparty credit risks.
• Build and maintain an active pipeline of prospects and opportunities from initial engagement through quotation and conversion.
• Meet agreed targets for new business premium, pipeline conversion, client acquisition and portfolio profitability.
• Develop cross-selling opportunities across UOI's existing commercial customer base.
• Support the development of other Specialty Lines opportunities as required.

2. Trade Credit Proposition Development

• Work closely with underwriting to understand prospective clients' businesses, trading arrangements, customer concentration, credit management practices, payment terms and loss experience.
• Develop appropriate Trade Credit insurance propositions tailored to clients' risk management requirements.
• Analyse customer portfolios and business information to facilitate effective risk assessment and structuring.
• Support the preparation of proposals, presentations, quotations and renewal strategies.
• Explain policy structure, insured risks, credit limits, deductibles, exclusions and claims processes clearly to brokers and clients.
• Monitor developments in trade, insolvency, sector and country risks that may affect business opportunities or portfolio quality.

3. Distribution & Relationship Management

• Build strong relationships with insurance brokers and intermediaries to establish a sustainable flow of Trade Credit opportunities.
• Develop relationships with banks and trade finance teams where Trade Credit Insurance can complement financing and credit risk solutions.
• Conduct regular broker and client visits, presentations, product briefings and business development activities.
• Position UOI as a credible Specialty Lines partner through responsive service, commercial solutions and technical capability.
• Develop referral arrangements and strategic partnerships where appropriate.
• Represent UOI at relevant industry and business networking events.

4. Underwriting & Portfolio Collaboration

• Work closely with underwriters to assess and structure new Trade Credit opportunities within UOI's risk appetite and underwriting guidelines.
• Provide complete and accurate information required for underwriting assessment and approval.
• Participate in discussions on pricing, policy structures, credit limits, terms and conditions.
• Support negotiation with brokers and customers while balancing commercial objectives with prudent underwriting.
• Assist in securing facultative or other reinsurance support where required in collaboration with Underwriting and Reinsurance.
• Monitor the quality and performance of originated business, including premium, claims experience, retention and profitability.
• Ensure that business development activity remains aligned with UOI's underwriting strategy and delegated authorities.

5. Market Intelligence & Product Development

• Monitor developments in the Singapore and regional Trade Credit insurance market, including competitors, broker activity, customer needs, emerging risks and pricing trends.
• Identify opportunities for new Trade Credit propositions, distribution arrangements and customer segments.
• Provide market feedback to support product development, policy wording enhancements and underwriting strategy.
• Collaborate with internal stakeholders to improve customer journeys, turnaround times and business processes.
• Support broader Specialty Lines product development initiatives as required.

6. Business Planning & Reporting

• Prepare and maintain business development pipelines, sales forecasts and management reports.
• Track key indicators including prospect activity, quotation pipeline, conversion rates, new business premium, retention and portfolio performance.
• Contribute to annual business planning and budgeting for Specialty Lines and Trade Credit.
• Provide regular updates to management on pipeline, market developments, major opportunities and business risks.
• Undertake other assignments as allocated by the Head of Commercial Distribution and Management in support of overall corporate objectives.

Requirements

• Degree in Business, Finance, Economics, Insurance, Risk Management or a related discipline.
• Possess BCP/CGI certification. Relevant professional insurance qualification such as ACII would be advantageous.
• Minimum 5 years of relevant experience in general insurance, preferably encompassing Trade Credit, Specialty Lines, commercial insurance, broking or business development.
• Direct experience in Trade Credit Insurance is strongly preferred.
• Proven track record in business development, broker/client relationship management and new business acquisition. Established relationships within the Singapore broker, corporate, banking or trade finance community would be advantageous.
• Good understanding of Trade Credit Insurance, including buyer credit risk, payment default, insolvency risk, credit limits and commercial receivables.
• Ability to understand corporate financial information and basic credit risk indicators.
• Strong commercial acumen and ability to identify and convert business opportunities.
• Strong presentation, negotiation and relationship-management skills.
• Ability to translate technical insurance concepts into practical client solutions.
• Strong analytical, problem-solving and communication skills.
• Customer-centric with the ability to develop long-term relationships with brokers, partners and corporate clients.
• Self-driven, resourceful and comfortable developing a relatively specialised line of business.
• Strong collaboration skills and ability to work effectively with in a team.
• Proficient in Microsoft Office applications.