Product owner for ancillary insurance products at Hastings Direct. Analyzing performance and collaborating with partners to enhance customer and commercial outcomes.
Responsibilities
Product owner for a range of products within Hastings’ Ancillary portfolio, with responsibility for all customer and commercial outcomes.
Analyse performance using data and insights to identify opportunities for enhancements to products and pricing; developing and implementing strategies for ancillary products, driving long term profitability: delivering fair value whilst acting in the best interests of our customers.
Management of strong relationships with our ancillary partners ensuring we effectively manage commercial and contractual relations and customer outcomes to ensure long-standing, mutually beneficial partnerships
Responsible for trading performance and customer value outcomes and monitoring of trends and future risks and holding partners to account for delivery against these
Responsible for the delivery of good customer outcomes; effective monitoring of customer value and mitigation of potential customer detriment; input to the completion of annual product review & value assessment; and reporting to OpCo / Conduct Committee.
Delivery of strategic and tactical initiatives to improve commercial and customer outcomes (including product proposition and pricing reviews, claims process reviews, sales and in life journeys).
Working in partnership with other business functions including Pricing, Operations, Claims, IT and Digital & Marketing
Strong response to net rate reviews with ability to challenge rating increases based on analysis of claims and loss ratio performance/forecasts
Lead, develop and implement Ancillary Product development strategies (Provider / product / pricing / processes) to support the commercial performance whilst ensuring fair consumer value, regulatory compliance and reputational integrity
Lead Ancillary Partner strategy with responsibility for the selection, oversight and performance of Ancillary providers for allocated products
Support the rectification of any commercial or operational issues. Engaging with colleagues across the business and third party partners to collaboratively resolve issues
Support development of new products and propositions as these are developed and introduced. Working across the organisation to look at wider opportunities within the ancillary value chain
Requirements
Experience of working with highly regulated General Insurance products ideally within ancillary or claims function
Results-oriented, with drive to deliver against commercial and customer targets
Strong numerical reasoning with data analysis
Commercial focus and ability to drive strong negotiations that deliver benefits to all parties.
Innovative and driven - able to seek out opportunities to disrupt and innovate while also incrementally evolving current practices
Strong stakeholder management experience, within a fast-paced, matrixed environment.
Able to build strong connections with other functions to embed strategy and support delivery of trading outcomes
Benefits
Flexible working – we champion a flexible hybrid working approach – please speak to your recruiter to discuss in more detail
Competitive bonus scheme - all colleagues are eligible for our annual 4Cs performance bonus
Physical wellbeing – as a Band 4 colleague, Hastings pay for you to receive private medical Insurance (also known as PMI). This gives you flexibility and convenience to see a specialist or consultant and allows you to decide when and where you will be seen
Financial wellbeing – as well as providing you with 4x your salary with our life assurance cover, income protection at no extra cost, and matched pension contributions up to 10%, we are proud to provide you with an award-winning package which includes – discounts, cashback, free independent mortgage advice and free access to financial wellbeing support
Mental wellbeing programme – we have the thrive mental health app, our colleague assistance programme available 24/7, our own in-house mental health first aiders, support groups and a dedicated team to make sure we are covering your needs
27 days annual leave + bank holidays, with the option to buy or sell one of your weeks, access to our health care cash back plans, dental plans, discounted health assessments, Cycle to work and tech schemes, discounted and free onsite facilities, social events throughout the year and much more …
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