Increasing availability and adoption of connected devices represents an emerging opportunity for insurers to utilize data in new ways. The Hartford is creating a new innovation team, wholly dedicated to designing, testing and launching new value-added services for customers driven by connected devices. Expected benefits for The Hartford include improved insurance distribution, customer retention, risk prevention, risk selection, and pricing. The IoT Lab will be tasked with exploring opportunities across Personal Lines, Small Business, Middle Market Commercial, Construction and Marine segments.
The IoT Innovation Lab will create new customer value in the form of new data-driven products and services and determine how The Hartford can capture and use IoT data to improve business performance. This dedicated team will establish new revenue sources for The Hartford including fee-based income from new service offerings and additional premium by embedding insurance into complementary products and services.
The Assistant Director Strategic Initiatives will be a customer focused, highly energetic, forward thinker with the ability to make things happen. The Assistant Director will have end-to-end oversight of the Lab’s innovation concepts including research, ideation, framing, experimentation, and feedback loops. As well, the Assistant Director will represent the Lab,internally and externally, with respect to exploring, prioritizing and executing onpartnerships and experiments.
- Create and execute on the research agenda, ensuring the Lab strategy is grounded in a deep understanding of the connected device marketplace, competitive intelligence, and feedback from brokers and customers
- Lead ideation, framing and definition of compelling new customer value propositions (products, services, experiences) enabled by IoT devices and data
- Build opportunity assessments to prioritize and sequence new concepts
- Advocate for the customer within the product, underwriting and risk engineering roadmaps – identify the customer needs and desires and challenge others when constraints get in the way
- Translate new product and service models into compelling customer value propositions including mock-ups, pitch decks, low-tech prototypes, and marketing materials
- Identify, engage, vet and contract with potential partners (e.g., distribution, service providers, brokers) aligned to our strategy and provide stewardship to ensure the Lab moves quickly and efficiently to meet milestone commitments
- Create the go-to-market strategies that align customer value with demand and get the message out to target audiences (for testing and scaling)
- Serve as a trusted representative of the Head of the Lab with both internal and external stakeholders
This position is located in Hartford, CT and will require up to 20% travel.
- BA/BS degree
- Minimum of 5 years’ experience in insurance leading customer-centric strategic initiatives
- Passionate about innovation, emerging technology and hypothesis-driven experimentation
- Visionary thinker who can imagine new possibilities, blaze a trail and bring others along with them
- Exposure to predictive analytics, machine learning, AI and other advanced analytics techniques
- Superior analytical and problem solving skills
- Ability to work in a fast changing, dynamic environment. The ability to work on multiple tasks and assignments.
- Solution-oriented. Determined to keep trying until finding a way to succeed
- Motivated, highly-dependable, self-starter. Works independently with minimal oversight
- Ability to work confidently with all levels of management across organizations including senior executives in Home Office as well as field sales and underwriting leaders, brokers and clients