VP Strategy & Business Development
Vacature-ID: 253187
Categorie: Insurance
Datum geplaatst: June 26, 2024
Categorie: Insurance
Datum geplaatst: June 26, 2024
Locatie: Florham Park, NJ, US
The Vice President of Insurance Services Strategy and Business Development will work closely with the leadership of the Insurance Services business unit to create and continuously improve our overall strategy and carrier relations, with particular emphasis on our business focused on clients with fewer than 250 employees.
The Vice President will be responsible for:
(1) helping to set ADPIA’s (ADP Insurance Agency) strategic direction
(2) working closely with the functional leaders in Insurance Services to drive execution of strategic projects, working closely with product development
(3) Lead ADPIA growth through the identification of partnership, integration, and acquisition opportunities with a focus on carrier relationships
(4) develop the vision for the overall BU strategy and align priorities to support BU financial goals. The Insurance Services business unit acts as a broker/dealer for a broad spectrum of clients and is one of ADP’s fastest-growing businesses.
Responsibilities
• Manage the strategic planning process for ADPIA’s portfolio: develop short, mid, and long-term strategies using fact-based analyses
• Partner with functional leaders to build and implement strategies that grow market share and revenue
• Drive market research efforts and track market / competitive trends with a specific focus on potential disruptive threats, changing client preferences, and keys to differentiation and report out on a regular basis
• Lead the Business Intelligence/Analytics function of ADPIA
• Lead development of Insurance Services vision and priorities; Link the portfolio’s Business Development vision to the overall strategy and align priorities to support financial goals.
• Manage the Insurance Services business development pipeline and roadmap with our product teams
• Retain current and build new carrier relationships to refine and execute insurance carrier strategy while leading the Carrier Relations team
• Partner closely with Sales leadership to understand market forces and develop new growth channels and opportunities
• Work closely with Product Management to prioritize technological investment
• Partner with the Service team to develop deeper client insights, including analyses of retention, win/loss, NPS, and other relevant dimensions
• Identify business development opportunities and support business case development and partnership negotiations to execute on the opportunity
• Travel up to 30% to support meetings, client and market visits, and business development efforts.
Bachelor’s degree or equivalent breadth of experience required
• Experience developing and evaluating strategies: Identifying and framing issues, forming hypotheses, conducting market research and analyses to test critical hypotheses, developing execution plans
• 8+ years’ experience in analyzing new business opportunities in the Insurance field — with a heavy emphasis on Health & Benefits and/or Property & Casualty
• Proven strength with conceptual problem-solving skills
• Strong analytical skills (financial modeling, basic statistics, regression analyses, etc.)
• Excellent written and verbal communication
• 3-5 years’ experience in a strategy consulting firm (BCG, McKinsey, Bain) or corporate strategy group is preferred.
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