Position: Contract-to-hire / Consultant / Full-time
Title: Vice President, Sales & Strategy
Location: New York / Los Angeles/London
Team: Client
Reports to: Senior Vice President, Sales & Strategy
☒ Full-time
☒ Exempt
We are Praedicat, a funded InsurTech startup headquartered in Los Angeles, with additional offices in New York and London. Our business is helping other businesses make the world cleaner, safer and healthier, and we do it with a foundation deeply rooted in science, technology, analytics and a business-minded approach to client service. We deliver innovative new anticipatory models that use cutting edge quantitative analytics and technologies to help our clients future-proof their business. Our people are our greatest assets, and we enjoy a unique and special culture that thrives on hard work, being kind and staying curious. If that sounds like you, read on.
· Making a difference: Our products deliver data from peer-reviewed science into the workflow of business, empowering our clients to make better decisions that result in cleaner technologies, safer products, and a healthier environment while driving profitable and sustainable growth. That’s making a difference.
· Multidisciplinary collaboration: We believe in collegiality and multidisciplinary collaboration. We work really well together even though our areas of expertise vary dramatically. We leave our egos at the door because when we listen to understand, rather than to respond, we learn from each other and build off each other’s ideas. And that leads to solutions.
· Hard problems and cutting-edge technologies: What’s the next asbestos? Imagine if you could answer that billion-dollar question. How might you use that knowledge? How many lives would be saved? When you are tackling hard problems and trying to answer hard questions, you employ every tool in your tool kit…and our tool kit is chock-full of cutting-edge technology like artificial intelligence, machine learning, big data manipulation…and heart.
We are looking to hire a Vice President, Sales & Strategy who will report to the Senior Vice President, Sales & Strategy. The position will be a 6-month contract position with the possibility of becoming a regular full-time employee. Contract position is eligible for medical insurance coverage, as well as dental and vision coverage.
Do you want to tackle the liability protection gap in a fascinating growth market with a real societal impact? Then this is the role for you! This role will work with various clients to facilitate the creation of a robust market, unlocked by Praedicat’s cutting edge risk models and insights, reducing asymmetry of information across the value chain.
The ideal candidate has experience and success engaging senior-level executives, with a strong sales and business development background and deep expertise in P&C insurance and reinsurance.
This person will help define Praedicat’s growth strategy and execute, with a particular focus on setting up strategic partnerships that support the long-term growth of Praedicat and expansion into multiple verticals (e.g. broker partnerships).
This person will also be responsible for managing business development-related activities, from initial outreach to signed contract, delivering world-class sales consultation to prospects and clients in the insurance/reinsurance market, and to large corporations (risk managers) across multiple segments.
Approximately 25 (re)insurers are already Praedicat clients, and this person will initially focus on helping Praedicat capture the next wave of growth. This person will also manage a select group of existing (re)insurance customers, while prospecting for new business in the (re)insurance and corporate sectors. This person will be able to think strategically about business, product and technical challenges, with the skill set to drive the client strategy, as well as the tactical execution of sales and business development goals.
To be successful, this person will develop a comprehensive understanding of Praedicat’s clients, proprietary analytics and products so s/he can counsel clients and prospects on how to receive maximum value from Praedicat’s products and services. This person will have experience in technical sales, such as quantitative modelling products or similar solutions, and be prepared to discuss the application of technical products to the insurance and reinsurance workflow. This person will be comfortable listening to prospects and clients and thinking creatively about how Praedicat’s analytics can solve their problems.
Responsibilities
· Defining and executing on Praedicat’s broker partnership and distribution strategy (with a particular focus on retail brokers). Includes ownership of all broker relationships.
· Ownership of distribution partnerships with key insurer clients.
· Ownership of a sales target for individual accounts, with a particular focus on insurer new deals and existing insurer client relationships up for renewal or expansion.
o Create strategic account plans for identified opportunities and ensure these plans are in line with Praedicat’s strategic direction
o Execute Praedicat’s sales process, which emphasizes aligning Praedicat solutions with specific client use cases, measured by clearly defined success metrics that drive tangible and quantifiable value for the client
· Co-ownership of leads generated from broker partnerships (global industrials). Ownership of defining the ‘risk manager’ use case for Praedicat.
· Defining and help execute on Praedicat’s named peril product business strategy (distribution, focus areas, partnerships (e.g. MGAs)) with a particular focus on direct insurance products. Work with analytical resources to execute to deliver insights to market.
· Informing and creating Praedicat’s general sales growth strategy and distribution for other segments (e.g. London, start-up insurers, reinsurers, run-off, global industrials / distribution)
o Includes continuous work to clearly articulate the value
Requirements
· A proven business development professional with executive presence, strong communication and presentation skills, and a drive for results
· Experience setting up complex distribution partnerships
· Exceptional relationship building skills
· Exceptional listening skills
· Strong team player; ability to actively collaborate with teams including sales, account management, product management, engineering and modelling
· Creates and maintains positive prospect, client and work relationships
· Takes responsibility for own success
· Ability to own and manage complex projects (e.g. development of new reinsurance products)
· Able to confidently drive forward, develop and execute strategies in ambiguous and unstructured environments
· Industry knowledge and experience in the domain of casualty (re)insurance. Understanding of market dynamics and current practices.
· Highly proficient with Salesforce, Excel and PowerPoint
Preferred Qualifications
· B.A. in Business or Finance, or other related field or equivalent work experience.
· 10+ years sales and insurance experience
· Ability to understand and explain complex modeling concepts
· Previous experience structuring new insurance products (ILS, etc.)
· Flexibility to further refine role when onboard
· Interested in participating in a range of projects
· Strong track record of success in sales
· Marketing experience a plus
· (Re)insurance product development experience a plus
· Strong quantitative and qualitative analytical abilities
· Experience in technical sales, such as quantitative modelling solutions
· Demonstrated relationship-building, communication and problem-solving skills
· Ability to travel as required
· Ability to employ a consultative approach with clients
· Interest in man-made risks facing society (chemicals, climate change, etc.)
The position can be based in London or New York or Los Angeles.
To apply, send your cover letter and resume as one .pdf.
Incentive Compensation and Benefits
Praedicat believes in a work-life balance that is supported by a competitive compensation and benefits package. All full-time regular employees are eligible for benefits such as:
· Participation in Praedicat’s Stock Incentive Plan offering equity-based incentives for employees
· Commission scheme tied to individual sales performance
· The ability to contribute to a Praedicat-sponsored 401(k) plan
· Medical insurance coverage, with both HMO and PPO options, as well as dental and vision coverage
· An allotment of PTO (paid time off) and official holidays each year
About Praedicat®
Praedicat is a latency risk data and modeling company and a spin-off of the nonprofit RAND Corporation and catastrophe modeling firm Risk Management Solutions, Inc. (RMS). The risk principle at the foundation of Praedicat is that “The science is the risk.” When commercial products or business practices cause latent bodily injury in the population, for the loss to be compensable in court, the injured parties must submit published science supporting the claim to the court. Scientific literatures that eventually become evidence in court develop one paper at a time over multiple years. As an emerging risk tool, Praedicat’s text mining technologies identify the science when the earliest papers are published. As the literature evolves, Praedicat identifies exposure settings and evaluates the state of the science. When the literatures are mature, Praedicat compares the state of the literature to the characteristics of scientific literatures in admitted litigation. With clearly specified harms and exposed populations identified from peer-reviewed journals, Praedicat is able to estimate severity of the risk and size of the claimant population. Finally, Praedicat has developed a probabilistic model that uses empirical predictions of the future state of the science to create a science-based prospective litigation event set. Praedicat’s multidisciplinary team includes bioscientists, economists, actuaries, statistical modelers, data scientists and software engineers. Praedicat’s models have been back-tested, and validated by an external actuarial firm. The data and models are used for underwriting, risk management, and the development of new insurance products by multiple global insurers and reinsurers. Global industrial companies also use the data and models for best in class product stewardship and risk management.
Praedicat is an Equal Opportunity Employer. Employment with Praedicat is determined on the basis of merit, competence and qualifications and will not be influenced in any manner by race, colour, religion, gender, national origin/ethnicity, veteran status, disability status, age, sexual orientation, marital status, mental or physical disability or any other legally protected status.