Job Classification:
Operations - Insurance Operations
The Individual Life Insurance (ILI) organization at Prudential Financial is seeking a Vice President, In-Force. Reporting into the President of Individual Life Insurance, this highly visible role will join a fast-paced environment that is leading business and cultural transformation. There is significant complexity involved with the in-force block as it contains over 170 different product types, over decades of time, across 8 admin systems for the Prudential and the Hartford block. This complexity is further amplified by evolving regulatory, market, and experience changes and evolving and changing customer expectations driven by competition and technology advancement.
Want more jobs like this?
Get Business Operations jobs in Newark, NJ delivered to your inbox every week.
This role will:
- Create, refine and execute various business and enterprise strategies to improve customer engagement, experience and business performance of the Prudential and Hartford blocks of business through innovative ideas that may include customer initiatives, broader transactions, evolving the use of partners (vendors/TPA's) and driving innovative technologies.
- Directly connect the buying experience to the on-going customer experience through innovation and strategic execution of data-driven improvements to proactively drive improved customer satisfaction and financial performance.
- Consolidate disparate pieces of current in-force management activities and initiatives across various areas/opportunities with a focus on financial and customer value. Enterprise will be aligned under this function for consistent execution, alignment, and delivery. Examples include strategic technology platforms such as LifeInsights, service/self-service enhancement design, and in-force monitoring and meeting evolving customer needs leading to upselling/cross selling.
The team is looking for a unique combination of skills of strong leadership focus driving Prudential culture, strong business acumen with an understanding of the marketplace of the future, and an innovative leader in the emerging markets.
- Key Deliverables:
- Design, develop and implement a tech-forward in-force strategy to differentiate policyholder/customer experience and drive business performance to consistently iterate and improve our in-force capabilities
- Strategically align and connect the purchase experience with the servicing experience to create a seamless and high tech (digital) experience from acquisition to policyowner
- Develop strategies, designs and recommendations, aligned with strategy, technology, marketing, finance and actuarial, to extract additional value through non-traditional approaches (e.g., transactions, partnerships, TPA, new technologies, customer health and wellness etc.)
- Assemble and align like capabilities that are currently spread in different parts of the business and enterprise to extract value and drive focus and continuous delivery
- Accountable for the performance of the Inforce policy book of business to:
- Develop new strategies to increase value by impacting customer engagement and satisfaction, health, early retention, profitability and continuous improvement
- Drive profitability throughout the customer lifecycle through identifying data-driven opportunities to become more proactive (next best action) efficient and automated
- Create on-going experience improvements for customers and advisors, linked to ILI strategy, which drives C1, NPS and EODB metrics
- Monitor and improve placement and early retention rates
- Identify sales opportunities as client needs evolve
- Identify and strategically implement initiatives that drive the ILI business strategy through and create competitive advantage and differentiation. Examples include significant expansion of digital resources and tools, self-servicing, and proactive intervention through "next best action" capabilities
- The Skills & Expertise You Bring
- 5-10 years of Life Insurance experience with a strong understanding of Life products and design
- Strong financial acumen
- Strong Influencing skills and ability to sell the value add of the group to drive the business forward
- Big picture strategic thinker
- Entrepreneurial mindset
- Ability to thrive in a start-up/undefined structure
- Customer engagement focus
- Proven track record of strong leadership and ability to build a team
- Create strategy/agenda that will uncover additional business opportunities
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.
The Prudential Insurance Company of America, Newark, NJ and its affiliates.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.
PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com.
Please note that the above email is solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.