Head of Partnerships (12 month Fixed Term)

Job Type:

Build a brilliant future with Hiscox

 

The Role

Hiscox has built a successful direct-to-consumer business in the UK, that is focussed on the selling of commercial insurance to Small and Medium Sized businesses, as well as the distribution of high value home insurance to high-net worth customers. This has been achieved through direct-to-consumer channels and via introduction from key partners, with the business contributing significant profit every year to the UK P&L.

With planned investment, Hiscox is set up to significantly accelerate its future growth, and we are seeking an interim Head of Partnerships to join our Direct and Partnerships team, to lead the development of strategic partnerships and expanded distribution.

You will be responsible for identifying and securing new opportunities to grow our business and reach new customers, as well as overseeing the optimisation of existing partners.

With a key focus on developing embedded insurance partnerships in particular, (Hiscox integration into third party platforms), this is a key commercial role that is largely measured on continually hunting out new partnership opportunities, the number of new partners secured, and total revenue onboarded.

This is a key role at an important time in the business’s development and will centre around three key imperatives:

1. Strategic Partner Expansion: Lead strategic partner development, identify new partnership opportunities and secure multiple new partnership deals, via networking RFP processes, commercial modelling and contract negotiation. Set sales and revenue targets and maximise written premiums.

2. Partnership Optimisation: Lead the Partnerships team and support in the optimisation of existing Partnerships to ensure annual revenue targets are realised.

3. Regulation & Governance: Ensure ongoing robust adherence of regulatory governance framework, in line with FCA guidance and Hiscox defined processes.

Key Deliverables:

Strategic Partnership Development and Expansion:

· Develop and execute a Partnership strategy that aligns with Hiscox’s market, specialisms and growth goals.

· Continually identify, pursue and win new partnership deals (introducer and embedded) for both commercial insurance and high net worth home insurance, to expand customer reach, our customer base and to increase revenue contribution.

· Proactively identify and respond to RFPs, creating a compelling proposition, narrative and commercial proposal to maximise the number of RFPs Hiscox wins and in turn increase partnership revenue.

· Negotiate and execute partnership contracts, terms and conditions, and ensure compliance with legal and regulatory requirements.

· Be the project lead and sponsor to oversee set-up, launch and integration of new partners, to ensure launch timescales and revenue deliver to plan.

· Represent the company at external events and meetings, to build and maintain strong relationships with key stakeholders.

· Be the Compliance lead for Partnerships, continually understanding the regulatory landscape, reviewing and monitoring controls, as well as managing conduct risk.

Performance Optimisation:

· Own the commercial performance of partnerships to deliver expected revenue for Hiscox Direct and our partners, through laser focus on day-to-day trading and reporting of performance to senior leadership.

· Oversee partner budgets/financial targets in line with internal measures and KPIs, and ensure reporting of key performance metrics to both internal/external stakeholders, identifying trends and proposed activity.

· Develop relationships with existing and future partners, to build strong collaboration between both parties.

· Oversee the governance framework, to ensure key processes and controls are designed effectively, regularly maintained and updated accordingly, as well as ensuring timely completion of monthly/quarterly/annual regulatory reporting.

Team & Stakeholder Management:

· Lead a team of 2 x Partnerhships Account Managers to optimise commercial performance of existing partnerships and support in securing of new partnerships.

· As there is a strong matrix model, develop a strong network across Hiscox UK and key functions, to ensure focus and support in development and optimisation of Partnerships.

· Be the lead co-ordinator for all projects relating to Partnerships, shaping requirements as required within the Project/Change framework.

Experience:

· Drive, energy and professionalism; self-starter motivated by continuous improvement.

· Sales mindset, with strong experience in new business development, winning multiple new partnerships.

· Commercial acumen with the ability to develop compelling and commercial partnership proposals.

· Strong understanding of the insurance partnership market and distribution models, including embedded insurance and API solutions.

· Strong understanding of Compliance and Regulatory Framework across introducers (IARs), Authorised Representatives (ARs) and Delegated Authority (DAs)

· Experience in working with different types of insurance partnerships, (i.e. Introducer/ White-Label/Embedded) and identifying relevant solutions by partner.

· Excellent interpersonal skills and to be able to quickly establish credibility, to develop long lasting relationships with partners and stakeholders at all levels.

· Strong organisation, prioritisation, data and presentation skills.

Diversity and flexible working at Hiscox

At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success. We also understand that working life doesn’t always have to be ‘nine to five’ and we support flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.

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