Business Development Insurance Jobs in Illinois (NOW HIRING)

Rate Insurance is an independent insurance brokerage offering an unmatched value proposition to our customers, our referral partners, and our team members. Our unique business model allows us to consistently achieve new heights and redefine excellence, which has positioned us as one of the fastest organically growing brokerages in the country. Since 2012, we have achieved double-digit growth, year over year, and now represent over 100 different property and casualty insurance providers in all 50 states.

Rate Insurance is an independent insurance brokerage offering an unmatched value proposition to our customers, our referral partners, and our team members. Our unique business model allows us to consistently achieve new heights and redefine excellence, which has positioned us as a top 50 personal lines agency and top 100 property and casualty agency. Since 2012, we have achieved organic double-digit growth, year over year, and now represent over 100 different property and casualty insurance providers in 50 states. Rate Insurance helps Account Executives grow their business, build their brand, have a better quality of life, and make more money. As an Account Executive, you will have a support team that handles all non-sales related activities, so you can focus on growing your book of business and cultivating new relationships.

Business Development Executive, Insurance Partnerships

This role is responsible for identifying new business opportunities, negotiating strategic agreements, expanding market presence, and driving revenue growth through innovative partnership initiatives. The ideal candidate is a highly motivated sales and relationship leader with deep insurance industry expertise, strong executive presence, and a proven track record of building high-value partnerships.

Salary for this position is $200,000.

• Develop and execute a comprehensive partnership strategy to drive insurance distribution growth.
• Identify, evaluate, and secure new partnerships such as affinity groups, lenders, real estate organizations, builders and other distribution channels.
• Establish and maintain relationships with executive-level stakeholders across the insurance ecosystem.
• Negotiate partnership agreements, revenue-sharing arrangements, and strategic alliance contracts.
• Build a robust pipeline of partnership opportunities and manage them through the full business development lifecycle.
• Collaborate with senior leadership to define growth objectives and market expansion strategies.
• Analyze market trends, competitive dynamics, and emerging opportunities within the partnership ecosystem.
• Develop business cases, partnership models, and go-to-market plans that support organizational growth initiatives.
• Represent the company at industry conferences, trade events, and executive networking functions.
• Drive partnership-generated revenue and achieve established growth targets.
• Create and monitor key performance indicators (KPIs) related to partnership activity, production, and profitability.
• Provide regular reporting and forecasts to executive leadership regarding pipeline health, partnership performance, and market opportunities.
• Identify opportunities to increase partner engagement, production, and retention.
• Work closely with sales, operations, marketing, product, technology, and carrier relations teams to ensure successful partner onboarding and execution.
• Champion partner needs internally and drive solutions that enhance the partner experience.
• Support the development of co-marketing programs, lead-generation initiatives, and joint business planning activities.

• Bachelor’s degree in Business, Marketing, Finance, Insurance, or related field.
• 10+ years of business development, strategic partnerships or sales leadership
• Demonstrated success in sourcing, negotiating, and managing complex partnership agreements.
• Strong understanding of insurance distribution channels, carrier relationships, underwriting operations, and regulatory considerations.
• Proven ability to influence senior executives and build long-term strategic relationships.
• Exceptional presentation, negotiation, and communication skills.
• Experience managing a sales pipeline and exceeding revenue targets.

• Existing network of insurance carrier, agency, and industry executive relationships.
• Experience working with InsurTech, mortgage, real estate, affinity, or financial services partnerships.
• MBA or advanced business degree.
• Insurance industry designations (CPCU, CIC, ARM, CRM, or similar).

• Competitive base salary
• Performance-based bonus and incentive plan
• Long-term incentive opportunities (where applicable)

• New partnership agreements executed
• Partnership-generated revenue growth
• Quarterly pipeline value and conversion rates
• Carrier and partner satisfaction scores
• New market penetration and channel expansion
• Retention and production growth of existing partners

Reports to: President or EVP of Business Development.

Rate Insurance is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law.

• eligibility to participate in a company-sponsored 401(k)
• vacation benefits
• eligibility for medical, dental, vision, and prescription drug benefits
• flexible benefits (e.g., healthcare and/or dependent day care flexible spending accounts)
• life insurance and death benefits
• critical care insurance
• personal accidental insurance
• commuter benefits
• pet insurance
• certain time off and leave of absence benefits
• well-being benefits (e.g., employee assistance program)
• other supplemental benefits (e.g. legal planning assistance; identity theft protection; pet insurance; wellness resources)

At Rate Companies, we believe in empowering our people to make an impact every day. From industry-leading mortgage solutions to award-winning workplace culture, we’re proud to help our employees grow, collaborate, and succeed together. Rate is one of the nation’s top retail mortgage lenders, delivering a seamless, tech-driven experience that helps customers reach their homeownership and financial goals. Founded in 2000 and based in Chicago, Rate is licensed in all 50 states and D.C. and has helped over 2 million homeowners with a wide range of loan products, competitive rates and personalized service. With 5,000+ employees across 300+ offices and 12+ subsidiaries, Rate’s Loan Officers rank among the best in the country. From purchases and refinances to tapping into equity, Rate makes financing faster, simpler and less stressful. Our technology — including Same Day Mortgage, the Rate App, FlashClose℠, MyAccount and the Language Access Program — has earned recognition from HousingWire, Scotsman Guide, NerdWallet, the Chicago Tribune and Crain’s Chicago Business. Learn more at rate.com.