A Business Development Manager in the insurance industry is primarily responsible to cultivate profitable opportunities for new business and improve the retention rate of existing insurance clients. This is accomplished by effectively managing relationships with insurance agencies, business planning and development.
If you are an aspiring insurance business development manager, a great resume is just the first step. In today’s post, we will focus on job interview questions specifically for a business development manager in the insurance industry.
Read the following job interview questions before your next interview and carefully consider your answer in advance. Remember that a good job interview answer becomes a great job interview answer with an example – so be ready with an example to support your response.
Insurance Business Development Manager Job Interview Questions
How would you describe yourself?
As a business development manager in our insurance company, you will need the ability to communicate and influence your clients. Tell me about a time when you had to convince an individual or group ( ie. client, colleague or boss) who disagreed with you?
How do you anticipate the needs of the insurance agency? Give me an example of when you anticipated a business need and implemented a proactive strategy.
As an insurance business development manager, you will be required to grow revenue in multiple insurance lines including financial lines, accident & health, property, energy, casualty, marine, personal lines and business. Tell me about some of your achievements in these areas.
How much new insurance business did you closed last year? How did your achievement compare against your goal?
A successful business development manager has expertise in underwriting guidelines, product knowledge, laws and regulations related to the insurance industry. Give me a recent example of when you had to apply this knowledge.
List 5 traits required to be a successful insurance business development manager. Of these, which one represents your greatest weakness?
A key to maximizing profitability for our insurance company is through effective agency management. Thinking back to the insurance agencies you have worked with, can you recall your worst performing insurance agency? What were some of the reasons for the poor performance? What did you do to improve their performance? How did you resolve this problem and what were some of the things you considered?
What was your most challenging and/or memorable presentation you have made in the last year? What made this presentation stand out in your mind?
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