VP of Underwriting, Spinnaker at Hippo Insurance
Title: VP of Underwriting, Spinnaker
Location: Dallas, TX / Austin, TX / Bedminster, NJ
Reporting to: Chief Underwriting Officer
Spinnaker is a national property and casualty insurance company rated A- VIII by A.M., that is a wholly owned and independently operated subsidiary of Hippo Insurance. With the capability to offer admitted and surplus lines insurance products in 50 states and jurisdictions, Spinnaker partners with program administrators and managing general agents to offer strategic insurance solutions. We target innovative product market leaders across both personal and commercial lines, specialty lines, and traditional and non-standard fronting opportunities.
We are seeking a committed, experienced, and energetic individual to join our team at the VP level, reporting to the CUO. This is a collaborative leadership role accountable for the underwriting and management of a sub-portfolio of programs within the Spinnaker program portfolio. 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 commercial lines of business, and program development and compliance.
What You’ll do:
Responsible for day-to-day management and P&L of specific programs, including:
- Responsible for day-to-day management and P&L of the program portfolio in partnership with the CUO, including:
- Drive underwriting excellence and lead the execution of the company's underwriting strategic vision.
- Set priorities, targets, standards and metrics for underwriting guidelines, accountabilities and programs; review and evaluate program performance; and provide feedback and calibrate as needed.
- Operate as a change agent and catalyst for modernization and digital thinking; provide strategic insights and fresh solutions to improve and enhance results.
- Develop and manage underwriting optimization techniques.
- Responsibility for compliance and insurance regulatory requirements, including state filing review/signoff along with broader program-specific teams
- Quality and accuracy of the deal-specific business terms of applicable deal contracts
- Responsibility for program meeting strategic objectives as stated by CUO or CEO
- Responsible for deal-specific pricing models, collateral management tools, and reinsurance efficiency
- Oversight of renewal strategy on a program portfolio basis in conjunction with VP UW and Ceded Re
- Creation of program specific MGA and reinsurance analysis tools and reporting packages for Executive Team, including:
- Identification of need for either, i) internal development, or ii) third party licensing of analytical tools
- Aggregation management and optimization around key metrics
- Monthly program and reinsurer reporting
- Account reconciliation, including review and approval of account balances due MGAs/reinsurers based on contract wordings
- 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 and how they integrate into company appetite and load/capital management
- Responsible for helping to underwrite new business submissions with team support as needed
- Partnership in the management of the Ceded Re requirements of Spinnaker, including:
- Identification of needs deal specific reinsurance placements, and MGA/broker/reinsurer relationships
- Partnership in the placement of the Corporate Catastrophe XOL (including data collection and modeling)
- Oversight of individual UW Team work product (i.e. monthly reports, MGA issues, contract monitoring, etc.)
- Represent the Company at industry conferences/events; marketing, reinsurer visits, program on-boarding audits
- Subject Matter Expert: At least fifteen (15) years of Property and Casualty Insurance experience in an underwriting and/or product role
- Bachelor’s Degree required; Applied Math, Economics, Finance, Risk Management.
- MBA in Finance, Economics, or Risk Management preferred.
- Strong analytical skills: Ability to develop analytical/dynamic underwriting models. Be able to efficiently identify the tools required for the task at hand and develop a product solution.
- Ability to identify the needs for optimization of a programs portfolio, and management of channel efficiency.
- Leadership: Provide leadership to others that drives underwriting process improvement whether through technology, outsourcing or internal innovations. Strong intellectual curiosity and a desire to help others solve problems.
- Driven: Confidence in your skillset, desire to learn more and ability to make an impact.
- Entrepreneur: Work on the creation of new and emerging products for rapid entry into new markets. A natural inclination to work within a culture that is fast-paced and dynamic.
Nice to Haves:
- Specialist in casualty lines of business
- Modeling analytics experience. You will not be required to run the models, but a strong understanding of the output and implications will be valuable
- Experience in managing compliance function for programs, including rates, form and filings management
Compensation and Perks
- Healthy Hippos Benefits- 100% Employer paid medical, dental & vision plan options for our team members AND their families (yes, you read that correctly).
- Flexible Paid Time Off
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.