Title: Director, Sales
Reports to: Vice President, Sales
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 Director, Sales, who will report to the Vice President, Sales. 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 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 capturing the next wave of growth – the next ~40-50 global insurance prospects. 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.
· Serve as a key member of Praedicat’s Sales team, driving Praedicat sales and technical strategies for the (re)insurance segment
· 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
· Maintain the sales pipeline by engaging with prospects, partners and key customers
· Understand and employ diligent use of Praedicat’s CRM system
· Create strategic account plans for identified opportunities and ensure these plans are in line with Praedicat’s strategic direction
· Lead the development of long-term relationships with new and existing clients through careful planning and execution
· Understand the unique technical requirements of insurance customers and work closely with the internal development teams to guide the direction of our product offerings for our largest and most complex customers
· Manage complex contract negotiations, in cooperation with the Praedicat legal and account management teams
· A proven business development professional with executive presence, strong communication and presentation skills, and a drive for results
· 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
· Able to confidently drive forward 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. Examples of experience may include:
· Primary or reinsurance broker, risk model vendor, insurance consultant, (re)insurance underwriter, actuary, (re)insurance client manager
· Highly proficient with one or more CRM systems, Excel and PowerPoint
· B.A. in Business or Finance, or other related field or equivalent work experience.
· 5+ years sales and insurance experience
· Strong track record of success in sales
· Marketing 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.)
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-like incentives
· 5% pension contribution by Praedicat
· Private Health insurance provided by AXA UK. Praedicat will reimburse the employee 100% via a payroll allowance for a policy under the Comprehensive Plan, which includes dental and vision coverage
· Life Insurance provided by Legal & General. Praedicat will reimburse the employee 100% via a payroll allowance for a policy with a 2X salary limit
· Income Protection provided by Legal & General. Praedicat will reimburse the employee 100% via a payroll allowance for a policy that offers a 55% of gross annual income monthly benefit
· Allotment of PTO (paid time off) and official holidays each year
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.