Director, Program Business

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 the role

We are seeking a committed, experienced, and energetic individual to join our team in 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.

As Director, Program Business at Spinnaker, you will act as the “CEO” of a number of Spinnaker programs. You will have primary P&L responsibility for the book of business and will be responsible for setting program annual goals, including strategies and tactics for profit, growth, expense management, and allocation of catastrophe capacity. A key strategic part of the role is relationship management, acting as the primary interface with each program, their Claims TPA, reinsurers, and brokers.

Responsibilities

• Represent your assigned programs as a member of the Spinnaker senior leadership team
• Ensure your programs are in compliance with contractual terms and follow all regulatory compliance requirements
• State filing review/signoff along with broader program-specific teams
• Ensure quality and accuracy of 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
• Collaborate with Finance and Operations to ensure monthly reinsurer reporting is done correctly
• Collaborate with Finance and Operations to ensure account reconciliation, including review and approval of account balances due MGAs/reinsurers
• Collaborate with Finance and Operations to ensure claims and treaty reporting, including review and approval of program-specific claims and IBNR
• Participate in the new business development process, including review of potential new business opportunities
• Collaborate with the Hippo Reinsurance team to ensure specific reinsurance placements are done correctly and timely
• Participate in industry conferences/events, marketing, and reinsurer visits as needed
• Overall P&L responsibility for programs in your portfolio; implement action steps to improve underwriting results as necessary
• Develop annual growth and profit plans for each program
• Develop and/or amend underwriting guidelines specific to each program
• Plan, manage, and evaluate work of program administrators/MGAs
• Develop and manage CAT management objectives, including PML management in conjunction with Hippo risk management department
• Direct responsibility for portfolio management of assigned programs, including management/allocation of limit accumulations, remediation or culling of unprofitable business, and oversight of remediation of MGAs with unsatisfactory audit results
• Work with program brokers and MGAs to place reinsurance specific to the program and coordinate with Hippo risk management department; ensure signed reinsurance agreements are loaded to contract database (Lexion)
• Collaborate with Spinnaker Claims department to monitor claim activity on programs and act where appropriate (e.g., underwriting guidelines, forms development, claims operations)
• Conduct underwriting audits and quality reviews to validate compliance with all underwriting guidelines and quality standards
• Conduct termination and run-off processes for discontinued programs

Requirements

• 7+ years of risk management experience in personal and/or commercial insurance positions of increasing responsibility
• 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
• Customer-service and relationship oriented

Nice to Have

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

Benefits

• Multiple medical plans to choose from and 100% employer-covered dental & vision plans for team members and their families
• 401(k)-retirement plan
• Short & long-term disability, employer-paid life insurance
• Flexible Spending Accounts (FSA) for health and dependent care
• Employee Assistance Program (EAP)
• Equity compensation
• Training and internal career growth opportunities
• Flexible time off
• 12 weeks of parental leave for primary and secondary caregivers
• Snacks and drinks available for onsite employees

Pay

The Morristown, NJ 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.