Director, Program Business

Director, Program Business

Location: Bedminster, NJ / Dallas, TX / Austin, TX Reports To: Chief Program & Underwriting Officer, Spinnaker

About Hippo: Hippo Holdings consists of national property and casualty insurance companies-including Spinnaker Insurance Company and its subsidiaries, rated A- (VIII) by A.M. Best-along with an insurance agency and a managing general agent. Enabled by technology, Hippo brings products to market through a diversified range of offerings sourced from both owned and third-party programs, available on an admitted and surplus lines basis. We partner with innovative market leaders across personal, commercial, and specialty lines, as well as traditional and non-standard opportunities.

About You: We are seeking a committed, experienced, and energetic individual to join our team. This is a collaborative leadership role accountable for program management and underwriting of a sub-portfolio of programs within Spinnaker. The ideal candidate will be self-motivated, a change leader that challenges and continuously improves existing processes and procedures, as well as a subject matter expert in personal lines, commercial lines, program management and compliance.

Responsibilities:

• Act as "CEO" of a number of Spinnaker programs
• Primary P&L responsibility for the book of business
• Responsible for setting program annual goals which will include strategies and tactics for profit, growth, expense management, and allocation of catastrophe capacity
• Relationship management with each program, including their Claims TPA, reinsurers, and the brokers

Day-to-day responsibilities include:

• Representing your assigned programs as a member of the Spinnaker senior leadership team
• Ensuring compliance with contractual terms and regulatory requirements
• State filing review/signoff along with broader program-specific teams
• Quality and accuracy of the deal-specific business terms
• Responsibility for each program meeting strategic objectives as stated by the CEO and senior leadership team
• Oversight of onboarding checklist(s) for new programs assigned to you
• Oversight of renewal strategy in collaboration with Finance and Operations
• Collaborating with Finance and Operations to ensure monthly reinsurer reporting are done correctly
• Collaborating with Finance and Operations to ensure account reconciliation, including review and approval of account balances due MGAs/reinsurers
• Collaborating with Finance and Operations to ensure claims and treaty reporting, including review and approval of program-specific claims and IBNR are done correctly

As needed, participate in the new business development process, in collaboration with the broader team. Review of potential new business opportunities. Collaborating with the Hippo Reinsurance team to ensure:

• Specific reinsurance placements are done correctly and timely
• Participating in industry conferences/events; marketing and reinsurer visits as needed

Program Specific Responsibilities:

• Overall P&L responsibility for programs in your portfolio
• Implementing action steps to improve underwriting results of programs as necessary
• Developing annual growth and profit plans for the program
• Developing and/or amending underwriting guidelines specific to each program
• Planning, managing, and evaluating work of program administrators/MGAs
• Direct responsibility for portfolio management of assigned programs, including but not limited to:
• Management/allocation of limit accumulations
• Remediation or culling of unprofitable business
• Oversight of remediation of MGAs with unsatisfactory audit results
• Collaborating with program brokers and MGAs to place reinsurance specific to the program and coordinate with Hippo risk management department
• Responsible for ensuring signed reinsurance agreements are loaded to contract database (Lexion)
• Collaborating with Spinnaker Claims department to monitoring claim activity on program and act where appropriate (e.g. underwriting guidelines, forms development, claims operations)

Key Program Audit Responsibilities:

• Conducting underwriting audits and quality reviews to validate compliance with all underwriting guidelines and quality standards are met
• Conducting termination and run-off processes for discontinued programs

Must Haves:

• Minimum of 7-10 years of risk management experience in personal and/or commercial insurance positions of increasing responsibility required
• Bachelor's degree required
• Proficient with setting and negotiating Reinsurance Programs
• Contract Drafting experience
• Experience with coverage analysis
• Understanding of technical claims proficiency and execution of best claim practices
• Understanding of insurance concepts such as contracts, policy forms, reinsurance, state regulation, and claims coverage
• Strong business acumen and ability to collaborate with other departments and stakeholders
• Demonstrated success in exercising independent decision-making, problem-solving, and negotiation competency
• Strong organizational and analytical skills with ability to conduct analysis on unstructured data
• Intermediate Excel skills are required
• Customer-service and relationship oriented

Nice to Have:

• Professional designations desired (CPCU, ARM, AIC, SCLA, etc.)

Benefits and Perks:

Hippo treats its team members with the same level of dedication and care as we do our customers, which is why we're fortunate to provide all of our Hippos with:

• Healthy Hippos Benefits: Multiple medical plans to choose from and 100% employer covered dental & vision plans for our team members and their families. We also offer a 401(k)-retirement plan, short & long-term disability, employer-paid life insurance, Flexible Spending Accounts (FSA) for health and dependent care, and an Employee Assistance Program (EAP)
• Equity: This position is eligible for equity compensation
• Training and Career Growth: Training and internal career growth opportunities
• Flexible Time Off: You know when and how you should recharge
• Little Hippos Program: We offer 12 weeks of parental leave for primary and secondary caregivers
• Hippo Habitat: Snacks and drinks available for onsite employees

The Bedminster, NJ and San Francisco Bay Area base pay range for this role is $150,000 - $250,000. Exact compensation may vary based on several job-related factors that are unique to each candidate, including but not limited to: skill set, experience, education/training, location, business needs and market demands.

Hippo is an equal opportunity employer, and we are committed to building a team culture that celebrates diversity and inclusion. Hippo's applicants are considered solely based on their qualifications, without regard to an applicant's disability or need for accommodation. Any Hippo applicant who requires reasonable accommodations during the application process should contact the Hippo's People Team to make the need for an accommodation known.