Head of Life Business Unit (Eatontown, NJ or Remote)

Crum & Forster Company Overview:

Crum & Forster (C&F), with a proud history dating to 1822, provides specialty and standard commercial lines insurance products through our admitted and surplus lines insurance companies. C&F enjoys a financial strength rating of "A" (Excellent) by AM Best and is proud of our superior customer service platform. Our claims and risk engineering services are recognized as among the best in the industry.

Our most valuable asset is our people: more than 2000 employees in locations throughout the United States. The company is increasingly winning recognition as a great place to work, earning several workplace and wellness awards, including the 2024 Great Place to Work^® Award for our employee-first focus and our steadfast commitment to diversity, equity and Inclusion.

C&F is part of Fairfax Financial Holdings, a global, billion dollar organization.  For more information about Crum & Forster, please visit our website: www.cfins.com.

Since 2000, Crum & Forster’s Accident & Health division (A&H) has offered a diverse portfolio of specialty insurance and reinsurance products nationwide. We place a strong focus on product development and creative distribution methods, along with excellent client service and support.

In addition to our robust domestic portfolio, which spans both special risk and medical solutions, A&H works on an international basis through various partnerships. Our global capabilities provide our partners with even broader flexibility in underwriting solutions.

The qualities and capabilities of Crum & Forster Accident & Health demonstrate our philosophy of building meaningful, long-term partnerships and our dedication to providing alternative strategies in an ever-changing insurance market.

 The C&F A&H division takes a full-spectrum approach to designing and servicing a robust slate of products tailored to needs in a diversified portfolio of products including but not limited to;  Employer Stop Loss, Travel Insurance, Occupational Risk, Excess Medical,  Ancillary and Supplemental benefits. Our diversified business model includes program partnerships as well as direct sales across all product lines.  A&H will record over $2b in gross written premium by the end of 2024.  

Information about the Role, Line of Business and Team:

We are seeking a dynamic and experienced leader to lead the start-up of a Life Insurance Business Unit (LBU) within our established Accident & Health Division. The LBU will provide a much needed platform to continue product diversification and inclusion in new markets to bring A&H to the target goal of $5b in gross written premium within the next 5 years.

This role is pivotal in driving the development, underwriting, and profitability of our life insurance offerings. The ideal candidate will bring a strong background in underwriting and business development within the life insurance sector, along with a proven track record of leadership and strategic growth.  The role is perfect for a motivated, creative self starter who takes a hands on approach to business and people.

This position is responsible for sourcing, developing underwriting and managing Life Insurance products and other products and services that are supportive and tangential to the Life Insurance market at large. This is a senior role on the A&H leadership team with a great deal of autonomy and opportunity.

Other responsibilities include portfolio management, financial planning, setting the strategic landscape of the LBU with senior leadership , collaborating with actuaries, operations and shared services, coordinating with LRC in developing and securing new policies and negotiating contractual terms and conditions.

The SVP actively contributes as a technical expert in both underwriting, business development and competitive intelligence.  There will be an exciting opportunity to lead and mentor a team to build organizational value as business scales.  Collaboration across all areas is critical to success in this role.

What you will do:

Develop and Execute Growth Strategies:

• • Market Analysis: Conduct in-depth market research to identify potential growth opportunities, such as underserved markets, demographic segments, or regions with high demand for life insurance (and other products).
  • Strategic Planning: Create a comprehensive growth strategy that includes short and long-term objectives, setting clear targets for market share, revenue, and profitability.
  • Innovation and Product Development: Lead the development of new life insurance products or refine existing ones to better meet market demands to create competitive advantages.

Enhance Distribution Channels:

• • Channel Optimization: Evaluate and optimize existing distribution channels, including brokers, MGA’s agents, direct sales, and digital platforms, to maximize reach and efficiency.
  • Partnership Development: Establish and nurture partnerships with financial institutions, fintech/insuretech companies, and other strategic partners to expand distribution and enhance market access.

Lead Marketing Efforts:

• • Marketing Campaigns: In conjunction with A&H marketing, oversee the creation and execution of targeted marketing campaigns aimed at increasing brand awareness, generating leads, and driving customer acquisition.
  • Customer Segmentation: Utilize data analytics to segment the market, enabling more personalized and effective marketing and sales efforts.

Drive Customer-Centric Initiatives

• • Feedback and Insights: Establish mechanisms for gathering customer feedback and use these insights to refine products, services, and processes.

  • Value Proposition Communication: Ensure that the unique value propositions of the company’s life insurance products are clearly communicated to potential customers.

  • Ensure Operation Excellence;

  • Process Improvement: Identify and implement improvements in operational processes to increase efficiency, reduce costs, and enhance service delivery.

  • Technology Integration; Collaborate with A&H actuarial and IT to lead efforts to integrate and update technologies, such as AI, automation, and data analytics, into the company’s operations to optimize performance and scalability.

Cross-Functional Collaboration: Promote collaboration across all functional areas to ensure alignment and drive collective success in achieving growth objectives.

Underwriting & Financial Management:**

• Develop and maintain underwriting rules, risk management principles and regulations to ensure compliance with all currently applicable corporate requirements and state and federal legislation.
• Drive product development with respect to distribution considerations, underwriting considerations, and compliance considerations.
• Develop a reinsurance approach to optimize profits and align with A&H diversification strategy.
• Budgeting and Forecasting; Manage the budgeting process for the LBU, ensuring that resources are allocated effectively to support growth initiatives.
• Performance Monitoring: Monitor financial performance, making adjustments as needed to stay on track with revenue and profitability goals.
• Investment in Growth: Identify opportunities for strategic investments, such as in new technologies, marketing initiatives, or acquisitions, to accelerate growth.
• Stakeholder Engagement:

Internal Communication: Communicate the vision, strategy, and progress of the LBU to internal stakeholders, ensuring alignment and support across the organization.

External Representation: Represent C&F in industry forums, conferences, and with regulatory bodies to enhance the company’s reputation and influence.

Talent Management and Leadership Team Building;

• • Recruit, develop, and retain top talent to build a high-performing team.
  • Leadership Development: Foster a culture of continuous learning and leadership development within the organization, ensuring that teams are equipped to meet current and future challenges.

What YOU will bring to C&F:

• Expertise in evaluating, underwriting and managing financial risks associated with life insurance products, including mortality risk, investment risk, and policyholder behavior.
• Proficiency in analyzing product profitability, understanding pricing strategies, and managing the overall financial health of the organization.
• Diverse and deep insurance and reinsurance experience across multiple products and operational functions
• Deep understanding of the life insurance market, including regulatory environments, competitive landscapes, and emerging trends.
• Ability to set long-term goals, identify market opportunities, and create actionable plans to achieve growth and profitability.
• Ability to drive innovation, anticipate changes in consumer behavior, and adapt to new technologies and market conditions.
• Ability to inspire and motivate teams to align with the company’s vision and goals.
• Strong communication and relationship-building skills with internal and external stakeholders, including customers, regulators, and shareholders.
• Focus on streamlining operations, improving efficiency, and reducing costs without compromising service quality.
• Proficiency in using data analytics to inform decision-making, understand market trends, and improve business outcomes.
• Excellent presentation skillsStrong negotiation and influencing skills as well as strong problem solving skills

Requirements:

• Bachelor's degree from an Accredited institution required and advanced degree a plus
• Strong Underwriting and financial background
• 10-15+ years of Life Insurance experience required
• 7+ years’ experience with reinsurance structures, underwriting and contracts
• 5+ years of people management experience
• Leadership skills
• Strong computer skills and Microsoft Office skills including Outlook, Word, Excel and PowerPoint
• Travel required

#LI-MS

#LI-REMOTE

• Competitive compensation package
• Generous 401K employer match
• Employee Stock Purchase plan with employer matching
• Generous Paid Time Off
• Excellent benefits that go beyond health, dental & vision. Our programs are focused on your whole family’s wellness, including your physical, mental and financial wellbeing
• A core C&F tenet is owning your career development, so we provide a wealth of ways for you to keep learning, including tuition reimbursement, industry-related certifications and professional training to keep you progressing on your chosen path
• A dynamic, ambitious, fun and exciting work environment
• We believe you do well by doing good and want to encourage a spirit of social and community responsibility, matching donation program, volunteer opportunities, and an employee-driven corporate giving program that lets you participate and support your community

At C&F you will BELONG

If you require special accommodations, please let us know. We value inclusivity and diversity. We are committed to equal employment opportunity and welcome everyone regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity, or Veteran status. If you require special accommodations, please let us know

For California Residents Only:  Information collected and processed as part of your career profile and any job applications you choose to submit are subject to our privacy notices and policies, visit https://www.cfins.com/onlineprivacypolicy/ca/noticeatcollection/  for more information.

Crum & Forster is committed to ensuring a workplace free from discriminatory pay disparities and complying with applicable pay equity laws.  Salary ranges are available for all positions at this location, taking into account roles with a comparable level of responsibility and impact in the relevant labor market and these salary ranges are regularly reviewed and adjusted in accordance with prevailing market conditions. The annualized base pay for the advertised position, located in the specified area, ranges from a minimum of $150,000 to a maximum of $275,000. The actual compensation is determined by various factors, including but not limited to the market pay for the jobs at each level, the responsibilities and skills required for each job, and the employee’s contribution (performance) in that role. To be considered within market range, a salary is at or above the minimum of the range. You may also have the opportunity to participate in discretionary equity (stock) based compensation and/or performance-based variable pay programs.