Business Development
Q&A with Chief Relationship Officer Brad Eldridge
How does the business development department support Falvey Insurance Group (FIG) as a whole?
BE: The BDM department involves identifying growth opportunities, expanding the client base, and enhancing overall profits to the company.
What is your department’s area of expertise?
BE: BDM’s main focus is to be the conduit for new and existing partners to the company as a whole. This involves cross selling all of the FIG offerings including Marine Cargo, Inland Marine, Transportation & Logistics, Pollution, and more.
How has your department evolved over time?
BE: Falvey’s model has historically been to produce business through the underwriting teams and to build off of the strong relationships in the marine space. BDM has expanded this focus to bring in new partners while penetrating new industries and geographical areas.
What differentiates Falvey’s business development department from others in the industry?
BE: Specialized product knowledge within an ever changing specialty insurance world. BDM is more than just the first introduction. We want to be knowledgeable and technical in our approach with our partners to have a level of comfort right from the beginning.
Are there any recent success stories/initiatives that have pushed your department ahead of the curve?
BE: Building and promoting new cutting edge programs with our key broker partners to bring the most competitive and service driven solutions to our mutual clients.
What’s something that excites you about the future of Falvey’s business development? Growth and opportunity.
BE: BDM is excited to not only grow the relationship management team but also to help the other departments hit their goals and elevate talent within the company.
What innovative or unique strategies does the department have, or is developing, to implement new business initiatives?
BE: Working hand in hand with the FIG marketing team to develop research and data which will ultimately lead to new introductions and partnerships. BDM will be the gatekeeper into all things Falvey with the ability to speak on insurance solutions as well as the supporting service and operational teams.
How does your department collaborate with other departments within the company, and how does this collaboration benefit Falvey? Can you share some examples of successful collaboration with other departments?
BE: Communication between all FIG departments is vital in the BDM process and accelerates cultivation within the company. BDM continues to collaborate with the underwriting, claims, operations, and compliance teams to build the ultimate FIG service platform for our partners. We strive to educate our partners as well as help our brokers for ease of doing business with FIG.