Executive Vacancies
Date Posted | |
Ref. | DC555 |
Job Title | SVP, Retail Products (Motor Insurance) RUSSIA |
Location | Moscow, Russia |
Reports to: Chief Executive Officer The Company We are working on behalf of a top 10 General Insurance company in Russia. It is an independently, American-styled company with an international management team and it operates in Non-Life, Life and Pensions. Historically, it has been one of the fastest growing insurance companies in Russia, moving from a top 20 to a top 10 company in under five years. This has been achieved on the back of aggressive distribution expansion, as well as through the acquisition of a leading St Petersburg company. In 2009, as with many industries, the insurance market in Russia declined (-8%) and our client, like its competitors, had to slow down the pace of distribution expansion and focus more closely on its own infrastructure and the management of costs. 2010 saw a modest return to growth followed by a 25% growth surge in the first half of 2011. During 2011 20% growth is expected and thereafter 15% pa into the foreseeable future. A key focus for future success will be the re-alignment of the company to a more customer focussed segmented structure, split between retail and commercial insurance customers. Retail accounts for approximately 70% of all clients’ insurance premiums and is sold via a number of distribution sources including its own built and managed agent network (2,500 agents, 40 locations), retail brokers, direct insurance, banks, car dealer groups and other third party sources. Approximately 80% of the Retail portfolio is motor insurance, however, non-motor retail products are particularly attractive in Russia and as such expansion into the non-motor segments of the market is a key strategic goal. Our client is looking for an individual who can develop and build a retail product structure, underpinned by appropriate pricing, processes and procedures, that will help it build dominant positions in the most advantageous Retail customer and distributor segments, within a business model that is cost effective and differentiating from its competitors. The new role holder will develop and further build the work achieved by the incumbent VP, who is returning to the UK after three years in the role, for family reasons. The Position
Reporting into the CEO who is a British National, this exciting and highly visible role will focus on developing the Retail Product portfolio so that our client increases its penetration and profitability from the most dynamic and profitable Retail business segments in the most cost effective and sustainable manner. This will specifically include:
(It should be noted that a UK citizen who was previously Head of Pricing for Direct Line in the UK, heads up the motor pricing team)
The ultimate goal is to grow faster than the market with a combined ratio that delivers a COR of below 100% over the longer run. The Person
It is anticipated that the candidate will have had the following experience:
Key competencies
Drive: A determination to succeed Self-starter: Able to operate without daily management Change Management: Evidence of transformation management from one business model or structure to another People Management: Must be able to manage large diverse groups of people over a wide geographic area Strategy & Planning: Ability to build, articulate and implement long term business strategy and plan Financial acumen: Ability to work with and understand financial business model (the ability to build such models is not required) Organisation: Ability to manage a wide range of diverse action plans simultaneously Hands-on Ability to make things happen
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Contact Email | [email protected] |