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For Companies At a Glance
- Tasks: Generate new business opportunities and build relationships with major organisations.
- Company: Lockton is a leading employee benefits provider, supporting clients of all sizes across various sectors.
- Benefits: Enjoy autonomy, professional development, and the chance to work with global brands.
- Why this job: Be part of a dynamic team that values innovation and client partnership in a growing market.
- Qualifications: Strong communication skills and a knack for business development are essential.
- Other info: Opportunity to coach junior associates and expand your professional network.
The predicted salary is between 43200 - 72000 £ per year.
The Lockton People Solutions team supports clients across all facets of insured and non-insured employee benefits including health, risk and wellbeing, global benefits management, workplace savings, M&A, actuarial, employee engagement and strategic consulting.
Our multi-disciplinary teams based around London, Bristol, Manchester and Scotland support clients from 250 to 100,000 employees, including major global brands and exciting start-ups.
About the Role
Your overall purpose in the role will be to generate profitable new business opportunities by cultivating professional relationships with major UK domestic and global organisations (FTSE 250/Fortune 500), in sectors such as legal and professional services, financial institutions, telecommunications, media and tech. The successful candidate will also have scope to use their knowledge and expertise to open new sectors and distribution channels.
With a great deal of autonomy, you will be encouraged to explore and identify new opportunities to develop and broaden our proposition to better meet client demand and differentiate Lockton in the market to fuel further growth.
Key Tasks and Responsibilities:
- Generate profitable new business opportunities and lead conversion to the Lockton Benefits practice to meet business targets by:
- Active prospecting and managed pipeline of new business opportunities with supporting records and tracking
- Working with Lockton colleagues, Global Partners and Introducing Partners to broaden distribution channels
- Leading and/or attending prospect meetings
- Production of proposal documents, response to tenders and presentation materials
- Feeding into annual business planning and forecasting
- Maintaining and expand own client relationships, both in terms of quality and value
- Negotiating fees or commission earnings with clients and ensure credit control is compliant with group standards
- Supporting and coaching other Producers and junior Associates to assist where possible in achieving their goals
- In conjunction with service team, working to ensure compliance with internal standards and procedures and our regulatory obligations
- For all clients in portfolio, including allocated house accounts, monitoring service standards and client satisfaction through regular contact with client and service team
About you
Competencies required in the role include:
- Ability to identify opportunities for business development
- Ability to build and maintain good business relationships with clients, insurers and associates
- Professional and tactful negotiation and persuasion skills to achieve objectives
- Demonstrated ability to instil confidence with clients so that the client looks to you and to Lockton as more than just an insurance broker, but as a partner in business
- Ability to communicate effectively and professionally both verbally and in writing with clients, insurers and other associates
- Presentation skills in both preparation and execution
- An understanding of the relevant classes of business
- An understanding of broader health, risk and wellbeing strategies and when these are useful to clients
- An understanding of the general, legal principles of insurance
New Business Producer - People Solutions employer: Lockton
Contact Detail:
Lockton Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land New Business Producer - People Solutions
✨Tip Number 1
Network actively within the sectors mentioned in the job description, such as legal, financial services, and tech. Attend industry events and engage with professionals on platforms like LinkedIn to build relationships that could lead to business opportunities.
✨Tip Number 2
Research Lockton's current clients and their needs. Understanding their business challenges will help you tailor your conversations and demonstrate how you can add value to their operations, making you a more attractive candidate.
✨Tip Number 3
Prepare to discuss your previous successes in generating new business. Be ready to share specific examples of how you've cultivated relationships and converted leads into profitable opportunities, as this will showcase your ability to meet the role's demands.
✨Tip Number 4
Familiarise yourself with the latest trends in employee benefits and wellbeing strategies. Being knowledgeable about current market developments will not only impress during interviews but also position you as a thought leader in discussions with potential clients.
We think you need these skills to ace New Business Producer - People Solutions
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in business development, client relationship management, and any specific sectors mentioned in the job description. Use keywords from the job listing to demonstrate your fit for the role.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and Lockton as a company. Discuss how your skills and experiences align with the responsibilities outlined, particularly in generating new business opportunities and building relationships.
Showcase Relevant Achievements: Include specific examples of past successes in business development or client engagement. Quantify your achievements where possible, such as the percentage of growth you contributed to or the number of new clients you brought on board.
Proofread and Edit: Before submitting your application, carefully proofread your documents for any spelling or grammatical errors. A polished application reflects your attention to detail and professionalism, which are crucial in this role.
How to prepare for a job interview at Lockton
✨Research Lockton and the Industry
Before your interview, make sure to thoroughly research Lockton and its position in the employee benefits sector. Understand their services, recent news, and how they differentiate themselves from competitors. This knowledge will help you demonstrate your genuine interest in the company and the role.
✨Showcase Your Business Development Skills
Prepare specific examples of how you've successfully generated new business opportunities in the past. Highlight your ability to build relationships and negotiate effectively. Be ready to discuss strategies you've used to identify and convert leads into clients.
✨Demonstrate Your Understanding of Client Needs
During the interview, emphasise your ability to understand and address client needs. Discuss how you can tailor solutions to meet those needs, particularly in sectors like legal, financial, and tech. This will show that you can be a valuable partner to clients, not just a service provider.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving and negotiation skills. Practice responding to hypothetical situations related to client interactions or business development challenges. This will help you articulate your thought process and approach to real-world situations.
