Westfield established 1848 Ventures, LLC in January, 2018 to lead the companys efforts to expand beyond conventional property and casualty insurance by understanding and addressing the broader risks that customers face. Were looking for an experienced, collaborative, results-driven critical thinker to lead customer-driven product development across a wide range of customer segments and to help shape the future of our innovation strategy and agenda.
Innovation Partnership Execution Leader
Salary Range: $141,440.00-$162,656.00-$183,872.00
Innovation Partnership Execution Leaders (PELs) are responsible for developing new products and business models that address the broader risks customers face by leading product development and executing pivotal partnerships. The ultimate goal is to deliver customer growth, generate profitable financial returns and produce new insights, perspectives and opportunities to drive the future success of both 1848 Ventures and Westfield Insurance.
The PELs lead product development from the discovery of customer needs (through design thinking or other customer-centered processes), through viability assessment and beta testing. The PELs also oversee the handoff of resulting ventures to be scaled. The product development involves partnership with internal and external stakeholders, as well as in-depth customer engagement.
In a nutshell, the PELs maintain a keen understanding of customer needs and skillfully operate at the intersection of human-centered design, emerging and evolving trends, and business strategy. The PELs also contribute to the design of partnerships to increase the likelihood of success and clearly define exit strategies in the case of failure. The PELs are valued team members that contribute to further developing and refining the 1848 Ventures strategy. The PELs report to the Group Innovation Leader for Business Expansion, which owns the P&L and strategy for 1848 Ventures, LLC.
The PEL ideal candidate:
- Has relevant work experience 7+ years of combined professional work experience in data science, quantitative analytics, human centered design, business strategy, insurance product management, venture capital, and/or other relevant fields.
- Has people leadership experience 5+ years of proven experience leading high performing teams in a project-based environment while executing with speed and agility and applying outside the box thinking.
1848 Ventures is building a flexible, dynamic and entrepreneurial team, and we desire team members with the following traits:
Results-driven and maintains focus on delivering value to the enterprise.
Empathetic and seeks to understand others, including customers, partners and team members
- Is a critical thinker and problem solver who can connect the dots between disparate ideas and data points to see new opportunities and challenges.
- Is a collaborator who is energized by working with others, learning new things and exposure to new experiences.
- Has a growth mindset and believes that their talents and those of their team can be developed over time.
- Is a giver and seeks out ways to be helpful to others.
- Has grit, which enables her/him to persevere over the long term, and despite setbacks
- Is comfortable with ambiguity and able to bring structure or clarity.
About 1848 Ventures, LLC
1848 Ventures was established in Jan 2018 to expand Westfield Insurances business portfolio by developing new products and business models beyond conventional P&C insurance by understanding and addressing the broader risks that customers face. The efforts of 1848 Ventures complement the innovation opportunities that are championed by the insurance operations to evolve or advance the capabilities of the P&C insurance business.
1848 Ventures delivers tangible customer growth and financial results to the enterprise by developing and monetizing a portfolio of innovations that include new products and/or business models designed to meet customers risk-related needs. These innovations may or may not be traditional insurance products, but will be consistent with Westfields brand and reinforce the companys right to win in a given market. Additionally, 1848 Ventures contributes to Westfields vision and corporate goals.
1848 Ventures acquires the capabilities necessary to develop, nurture and monetize customer-focused innovations. Three capabilities essential to pursuing innovation opportunities: customer-based insight, innovation ecosystem engagement, and partnership development. 1848 Ventures operates independently, but maintains appropriate linkages to the insurance operations and leverages Westfields strengths and assets, as appropriate, to strengthen the success of individual ventures.
The 1848 Ventures team is new, small and agile, and we are actively recruiting for multiple roles. The team is highly collaborative and flexible pitching in on many questions, projects and tasks that extend beyond individuals roles for the greater success of the team. Westfields Chief Innovation and Strategy Officer is accountable for 1848 Ventures, works closely with Westfields CEO and CMO on investment decisions, and provides regular updates to Westfields Board.
1848 Ventures is located at Westfields corporate office in Westfield Center, Ohio, and team members will have access to the benefits offered by Westfield. Westfield offers a Total Rewards program that focuses on compensation, benefits and wellness, and includes perks like 401(k), pension plan, annual incentive, education reimbursement, flex-time, onsite fitness center and casual dress. Work-life balance, recognition, and learning and career development are all part of a rewarding career with Westfield.
Westfield provides commercial and personal insurance in 21 states and surety services to customers in all 50 states including the District of Columbia, through a network of more than 1,000 leading independent insurance agencies. Westfield Insurance has over $5 billion in consolidated assets and $1.8 billion in written premium. Westfield is the largest writer of contract performance bonds in Ohio, and among the top writers of farm insurance in the United States.
Westfield's corporate office is located in Northeast Ohio, in the town of Westfield Center. Westfield Center is part of the "Cleveland Plus" region which includes Cleveland, Akron, Canton and Youngstown, the 12th largest region in the U.S. and home to over 4 million residents. Westfield is one of the largest private companies in Ohio and the largest employer in Medina County. Westfield was founded in 1848 and has been in business for 170 years. Westfield is rated "A" (Excellent) for financial strength by A.M. Best, and has had an "A" or higher rating for the past 83 years.
Westfields mission is to enable the peace of mind and financial stability of our customers. Westfield is guided by its core values which are: knowledge, trust, integrity, respect and stewardship. The companys vision is to be admired as a leading personal and commercial lines property-casualty insurance company enabled by an exceptional team known for experience and caring. Westfield will be distinguished by excellence in commercial insurance, and customers will choose us for our insight about risk and the value that is delivered.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
- Ability to work effectively in an office environment for 40+ hours per week (including sitting, standing and working on a computer for extended periods of time).
- Ability to communicate effectively in a collaborative work environment utilizing various technologies such as: telephone, computer, web, voice, teleconferencing, e-mail etc.
- Ability to travel as required.
- Ability to operate an automobile within the parameters of the driving policy
This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.
We are an equal opportunity employer/minority/female/disability/protected veteran.