Director – Program Underwriting
Spinnaker
Posted on 1/12/2023
INACTIVE
Hippo Insurance

501-1,000 employees

Proactive homeowners insurance with smart technology integration
Company Overview
Hippo Insurance stands out as a proactive player in the homeowners insurance market, offering modern coverage bundled with smart home technology to anticipate and prevent issues before they occur. Their unique selling point is Hippo Home Care, a service that provides homeowners with proactive maintenance and repair assistance. Furthermore, Hippo's industry leadership is demonstrated by its comprehensive licensing across multiple states, ensuring a wide range of coverage and competitive rates for its customers.
Fintech
Hardware

Company Stage

N/A

Total Funding

$2B

Founded

2015

Headquarters

Palo Alto, California

Growth & Insights
Headcount

6 month growth

-9%

1 year growth

0%

2 year growth

4%
Locations
Austin, TX, USA • Dallas, TX, USA • Bedminster, NJ, USA
Experience Level
Entry
Junior
Mid
Senior
Expert
Requirements
  • A minimum of 10 years of Property and Casualty Insurance experience in an underwriting and/or product role
  • Bachelor's Degree required; Applied Math, Economics, Finance, Risk Management
  • 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
  • Experience providing leadership to others that drives process improvement whether through technology, outsourcing or internal innovations
Responsibilities
  • Set and manage renewal strategy across a portfolio of programs
  • Lead placement of adequate reinsurance in alignment with Spinnaker's strategy and tail exposure requirements. Partner with Hippo Reinsurance team to ensure specific reinsurance placements are done correctly and timely
  • Ensure programs compliant with contractual terms and follow all regulatory compliance requirements
  • Manage completion of all required State filings
  • Set Accountable for the quality and accuracy of the deal-specific business terms
  • Ensure monthly reinsurer reporting are done correctly
  • Oversee accuracy of account reconciliation, including review and approval of account balances due to MGAs/reinsurers
  • Ensure claims and treaty reporting, including review and approval of program-specific claims and IBNR are done correctly
  • Maintain and grow industry knowledge and expertise including participation in industry conferences/events; marketing and reinsurer visits as needed
  • Develop an annual calendar for all interactions with the MGA/Claims TPA/Reinsurers and Brokers including in-person visits, program audits, renewal dates, broker meetings etc
  • Set annual growth and profit plans for the program
  • Develop and/or amend underwriting guidelines specific to each program
  • Plan, manage, and evaluate the work of program administrators
  • Develop and manage CAT management objectives including PML management, in conjunction with Hippo risk management department
  • Manage allocation of limit accumulations, remediation or culling of unprofitable business, and oversight of remediation of MGAs with unsatisfactory audit results
  • Work with program brokers and MGAs to place reinsurance specific to the program and coordinate with Hippo risk management department. Responsible for ensuring signed reinsurance agreements are loaded to contract database (Lexion)
  • Monitor loss development and claims activity
  • Ensure each program meets its audit plan and that all findings are remediated in a timely fashion
  • Conduct underwriting audits and quality reviews to validate compliance with all underwriting guidelines and quality standards are met
  • Conduct termination and run-off processes for discontinued programs
  • Healthy Hippos Benefits - 100% Employer paid medical, dental & vision plan options for our team members AND their families (yes, you read that correctly). As well as 401(k), long & short-term disability, employer-paid life insurance, flexible spending accounts for health and dependent care, and an Employee Assistance Program (EAP)
  • Training and Career Growth - Paid training opportunities and countless internal career growth opportunities
  • Award-Winning Culture - Recognized by BuiltIn and Inc. Magazine as a top place to work - we value integrity, inclusiveness, empathy, and being proactive and dedicated
  • Flexible Time Off - You know when and how you should recharge
  • Little Hippos Program - We offer 12 weeks of parental leave for primary and secondary caregivers
Desired Qualifications
  • MBA in Finance, Economics, or Risk Management preferred
  • Auto (commercial and personal lines) experience
  • Catastrophe modeling analytics experience. You will not be required to run the models, but a strong understanding of the output and implications will be valuable
  • Strong intellectual curiosity and a desire to help others solve problems
  • Confidence in your skillset, desire to learn more and ability to make an impact
  • 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
  • Experience in managing compliance function for programs, including rates, form and filings management