Job Classification:
Project Mgmt, Transformation & Strategy - Project Mgmt, Transformation & Strategy
Continuing on the execution of our vision of expanding access to insurance and financial products, Prudential created a start-up operating environment within the existing ILI business to accelerate and win in the Simplified Solutions space. This dedicated team leverages the size and scale of ILIs business while creating an opportunity to integrate insurance with technology and achieve exponential growth.
This is a team of fully empowered, accountable, and innovative owners that are eager to drive growth in new markets while operating beyond functions (an integrated approach to how work gets done with no functional constraints). A broad skillset with the necessary expertise and an ongoing focus on learning, evolving, fast decision making and executing will be key. Although different from the traditional teams we are used to, working within this operating structure creates a start-up environment that is nimble yet retains scale benefits.
Each of the team members is 100% dedicated and accountable to drive the strategy, deliver on the day to day to drive exponential growth, innovate and transform the end-to-end customer experience and the overall success of our Simplified Solutions portfolio. Everyone on this team is an owner and plays across the team with the expertise they bring to achieve Simplified Solutions business objectives.
This model accelerates our Simplified Solutions trajectory by dynamically combining the best of insurance and technology, ultimately expanding access, and protecting many more lives.
Chief Growth Officer Role
This role will be responsible to set the strategic market segments and industry verticals that Prudential Simplified Solutions will operate on. This role also works on defining and refining the value proposition of Prudential in each of these spaces. Finally this role will be accountable for all the business development activity related to prospecting, negotiating and closing contracts with potential distribution partners.
Peers of this role are:
Chief Partner Optimization Officer that will optimize sales in every new partner signed by the Chief Growth Officer
Chief Operating Officer responsible for the end-to-end operation of each partner, from sales, underwriting to claims and customer service.
Chief Product and Customer Experience Officer responsible for the insurance product and end-to-end channel and customer experience.
Chief Technology Officer responsible for all technology support for the operation
Chief Marketing and Strategy Officer responsible for the strategic plan and management of our go-to-market strategy.
Chief Pricing and Data Analytics Officer responsible for pricing and all sales analytics
Responsibilities:
Development of the strategic map of industries, verticals, and segments where Simplified Solutions will operate and set the prioritization of these segments based on current resources available and future resource development
Development and management of the customized value proposition to each partner segment, including all the components of a stellar customer speech and reason why to work with Simplified Solutions
This position will be responsible for the prospecting activity across the US territory. Our target industries include retail, financial institutions, fintechs, Insurtechs and are mostly non-insurance companies distributed across the country. They are a mix of Fortune 500 companies and digital start ups. They have in common the target customer segment of middle and low income market. The candidate should be able to navigate both worlds of large corporations and medium size tech companies and be comfortable developing business opportunities, business plans and the execution and delivery of launching a partnership.
This role will also be responsible to active manage the SS pipeline of partnership deals and the realization of goals of the area in terms of number of signed deals, average revenue of signed deals, launched deals, deals in negotiation (including tracking all activity in internal systems and hosting periodic update meetings with key senior management capability-contributors).
Establishing a commercial discipline within the group, with periodic updates and leading the prioritization efforts for implementation of accounts.
Ensuring that Prudential is included in all relevant deal RFPs and other solicitation processes.
Collaborating with Prudential venture capital ecosystem to ensure that investments are made contemplating a plan for monetization via partnership-based distribution.
Proposal authoring and presentation (including coordinating with relevant contributors to develop content and with business stakeholders to confirm alignment and/or required approvals).
Participating in the establishment of overall partnership business governance and delegated authority to ensure that there is sufficient empowerment to do business development on a level that is appropriately nimble and fast but properly controlled from a risk perspective.
Providing validated feedback to internal stakeholders about Prudential capabilities and remaining competitively viable in the most competitive arenas of the partnership business.
Working through prioritization of internal efforts in relation to development of new channels / clients with peers
Knowledge and Experience:
Significant (similar) experience in partnership deal business development, preferably in the insurance industry (insurance company, insuretech, intermediary, insurance team within a non-insurance-company partner-type organization) with demonstratable record of success in driving growth.
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