Job Description
The Opportunity
The Business Development Specialist (BDS) reporting into the regional Business Development Director (BDD) is responsible for cultivating and managing strong, profitable relationships with independent insurance brokers within a defined region. The BDS acts as a key business advisor, driving broker engagement and ensuring alignment with company objectives to achieve top and bottom-line growth. This role encompasses a wide range of responsibilities, including performance monitoring, business development, training, and communication, all focused on optimizing broker performance and contributing to the overall success of the organization. The BDS also acts as a point of escalation for brokers working to resolve problems efficiently and effectively and advocates for Economical's positioning in all broker interactions.
What To Expect
Production & Profitability Management
- Partner with brokers to support the achievement of production, profitability, and growth objectives through data-driven insights and business planning.
- Review and interpret performance metrics and trends to identify opportunities for growth, operational effectiveness, and continuous improvement.
- Collaborate with brokers to develop and implement business plans aligned with regional priorities and organizational goals.
- Support the execution of action plans designed to address performance gaps and foster sustainable growth.
- Promote adherence to company processes, audit requirements, and electronic transaction standards while providing guidance and support as needed.
- Identify and support commercial growth opportunities, lead generation activities, and portfolio acquisition efforts.
- Coordinate broker appointment and termination processes in accordance with company policies and regulatory requirements.
- Contribute to sales and growth initiatives across Personal Insurance, Commercial Insurance, Small Business, Farm, and other lines of business.
- Gather market insights, industry trends, and broker feedback, sharing findings with internal partners to inform business decisions.
- Prepare and maintain broker performance reporting and support performance review discussions.
Broker Partnership & Communication
- Build trusted relationships with brokers by acting as a collaborative business partner and resource.
- Foster strong partnerships through proactive communication, responsiveness, and a commitment to delivering a positive broker experience.
- Communicate product, pricing, coverage, appetite, and market updates in a clear and effective manner.
- Work with brokers to develop performance improvement plans and provide ongoing support to achieve shared business objectives.
- Promote organizational initiatives and support the achievement of key performance and quality measures.
Training & Education
- Facilitate onboarding and ongoing learning opportunities for brokers and brokerage staff on products, systems, processes, and company practices.
- Deliver education and training related to Personal Insurance, Commercial Insurance, Small Business, Farm products, and new business initiatives.
- Provide coaching and refresher training to support understanding of underwriting guidelines, compliance requirements, and data quality standards.
- Support learning and development initiatives arising from audit results, system enhancements, and product updates.
Contractual Compliance
- Provide guidance and consultation on broker agreements, appointments, compensation considerations, and related contractual matters.
- Support adherence to broker agreement terms and conditions, including amendments, renewals, and termination processes where required.
- Communicate contractual and policy updates to brokers and assist with implementation and understanding of changes.
What You Bring
- College diploma, bachelor’s degree, or an equivalent combination of education, training, and relevant experience in Business Administration, Insurance, or a related field.
- Experience in the Property & Casualty insurance industry, including exposure to broker-facing responsibilities within areas such as Underwriting, Sales, Distribution, or related functions.
- Chartered Insurance Professional (CIP) designation completed or actively pursuing completion; candidates with equivalent industry knowledge and a willingness to obtain the designation are encouraged to apply.
- Additional industry designations, such as FCIP or Certified Sales Professional (CSP), are considered an asset.
- Strong communication, relationship-building, and presentation skills, with the ability to effectively engage diverse audiences and stakeholders.
- Demonstrated ability to establish and maintain collaborative, professional relationships with clients, brokers, partners, and colleagues.
- Proficiency with Microsoft Office applications, including Word, Excel, and PowerPoint.
- Experience with Guidewire or similar insurance technology platforms is considered an asset.
- Knowledge of Personal Insurance and Small Business Insurance products and services.
- Strong analytical, financial, and problem-solving skills, with the ability to interpret information, identify opportunities, and support informed decision-making.
Note: We are hiring two candidates for this opportunity, with one position based in Ottawa and one position based in Toronto. Candidates will support their respective territories.
Salary Range: $59,300 - $109,200
High degree of proficiency with English required to service customers, both internal to the company and external, across Canada.
About Us
Actual salary for the role may vary depending on work location of the successful candidate and other factors including but not limited to, skills, education, experience, working conditions and the local labour market.
This position is being posted to fill an existing vacancy.
Interested in this role, but don’t meet every requirement? We encourage you to apply! We know from experience that a candidate doesn’t need 100% of the qualifications listed to bring incredible value to our team. We’re actively seeking diverse backgrounds and perspectives to help us make insurance better. At Definity, inclusion, diversity, and equity aren’t just “nice to have” - they’re essential to our success.
What’s in it for you?
- Hybrid work schedule for most roles
- Company share ownership program
- Incentive Program - Eligible employees may participate in various incentive plans which are paid out at the discretion of the company and subject to individual and company performance.
- Pension and savings programs, with company-matched RRSP contributions
- Paid volunteer days and company matching on charitable donations
- Educational resources, tuition assistance, and paid time off to study for exams
- Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
- Wellness and recognition programs
- Discounts on products and services
Go ahead and expect a lot - you deserve it.
It’s better here - but don’t take our word for it. Definity was named by Great Place to Work® as one of the Best Workplaces™ in Canada for women, for youth, and for inclusion.
Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting accessibility@economical.com.
As part of Definity’s commitment to reconciliation, we acknowledge that our work, meetings, and travel take place on the lands now known as Canada, and recognize the enduring presence, wisdom, and stewardship of the First Nations, Métis, and Inuit peoples who have long cared for these lands.
Background checks
This role requires successful clearance of background checks (including criminal checks and leadership references).
About The Team
Economical is part of Definity, which includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.
We offer a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Bring your true self and be a part of our journey. It’s better here.
