Farmers Insurance Careers
Head of New Markets, Client Relations & Services
Requisition ID: 190000Q3
This position will be responsible for developing and uncovering unexplored existing and new growth opportunities, while also anticipating cultural shifts and underlying drivers of market change that drive revenue growth.
Is at the forefront of disruptive technologies and is proactive at product evolution/creation to stay ahead of existing competitors and potential disruptors.
Lead and manage end to end process from concept to execution.
Build and manage relationships with external companies to expand Business Insurance offerings (nonstandard). Position is highly visible throughout the company and is key in achieving company strategic and operating goals.
Develop strategy and prioritization of new consumer facing products from ideation, selection of partners, development, financial analysis and budget management through implementation.
Accountable to Product, as well as executive leadership team for concepts / funding and execution.
Continual process of piloting/ adjusting assumptions (based on learnings) / sharing best practices / revising process / piloting --- through steady state handoff.
- Oversee a product’s creation, introduction to market and ongoing presence.
- Create, evaluate and analyze proposals for new business ideas, new lines of business and products.
- Sets the strategic direction and vision for the Business Insurance offerings and collaborates with internal business divisions to develop business strategy.
- Responsible for optimizing partner relationships through contract management, financial & quantitative analysis, relationship management and effectively creating mutually beneficial opportunities.
- Defines partnership requirements and selection criteria to comprehensively evaluate new partnerships.
- Perform the due diligence of evaluating prospective business partners and assess viability of partnerships based on risks and supporting analytical data.
- Extensive coordination with Business Insurance Underwriting and Product divisions for new partnerships.
- Responsible for the negotiation, creation and administration of partnership agreements and contracts.
- Ensures compliance of negotiated agreements and contracts.
- Creation and coordination of new legal entities to support the partnership with Famers.
- Manage expense budgets related to the implementation and execution of partnership agreements.
- Anticipate contractual agreement renewals and expirations to allow sufficient time for re-selection, re-negotiation and transitions.
- Manage issue escalation processes to ensure appropriate enterprise stakeholders are involved based on risk thresholds.
- Ensures contingency and exit strategies are in place in the event a relationship needs to be terminated.
- Develop, implement and manage reporting of metrics to effectively measure team and partner performance in line with the needs of the business.
- Manage the communication of reporting and data on partnership contracts, performance, risk and relationships to key stakeholders.
- Develop and manage all internal and external communication of new and existing partnerships.
- Responsible for all managing general agent (MGA) functions to include binding coverage, underwriting & pricing.
- Drives the development of a pipeline for new MGA opportunities which align with the MGA appetite.
- Responsible for the MGA strategy of converting new pipeline opportunities to new business within the portfolio, current MGA programs and retention of renewal programs.
- Keen ability to distinguish internal versus external problem causes to properly focus the correct resources to resolve the issues quickly.
- Exceptional prioritization skills to ensure timely resolutions appropriate for the severity and impact of the situation.
- Responsible for attending conferences to stay current on business and market trends.
- Strong leadership, collaboration, excellent interpersonal skills and the ability to persuasively sell ideas
- Excellent verbal and written communication skills with a strong attention to detail
- A high level of individual drive and ambition and an ability to build long term relationships
- Entrepreneurial mind set and spirit
- Fierce yet fair in negotiations
- Superior research and analytical skills to track and predict trends as well as financial analysis of cost benefit of opportunities
- Ability to foster an innovative culture, encourage strategic thinking, promote learning and short-termism avoidance
- Experience managing research projects independently from start to finish including managing tasks and adhering to timelines/deadlines
- Customer-driven focus
- Ability to engage at all levels of the activities adopting a ‘hands on’ approach when appropriate
- Ability to collaborate with executives, creative teams, research and development, and product development teams.
- Openness to change and flexibility. Must be willing to take calculated risks and manage expectations of both internal development teams and potential and existing customers
- Fast thinker / innovative / creative
- Ability to build and lead a cohesive team
- Contract negotiations
- Ability to deal with ambiguity
- Four year degree required
- Minimum 10 years’ experience in Farmers or in the insurance industry or a similar role
- Claims experience preferred
Job Posting: 01/29/2019