Avp Enterprise Long Term Growth

3 days ago

Hartford, United States The Hartford Full time

AVP Strategic Initiatives - NS05AE

We’re determined to make a difference and are proud to be an insurance company that goes well beyond coverages and policies. Working here means having every opportunity to achieve your goals - and to help others accomplish theirs, too. Join our team as we help shape the future.

The Hartford has well established mechanisms and structures to drive strategy and business development at a line of business level. In addition, the company has innovation labs driving experimentation in commercial lines (Y-Risk, MLC labs), risk engineering (IoT lab) and IT (Emerging technologies). As the company embraces a more ambitious growth and transformation agenda over the long term, we need to formalize and systematize our approach to long term growth and innovation at an enterprise level through the build and synchronization of mechanisms across business lines to help capitalize on exogenous trends.

For 2024 and beyond, we are creating a dedicated team focused on enterprise growth and innovation to advance this work and embed it more deeply in the organization. The AVP Enterprise Long Term Growth role will be critical in standing up and executing an innovation Stage Gate Operating routine, partnering in the build and organization of an enterprise-wide Innovation Council, personally driving research on Horizon 2 (expand into adjacent markets/products/ services) and Horizon 3 (expand into non-adjacent markets/ products/services) concepts each year, and creating and managing a social innovation platform and process to extract employee ideas from across the enterprise. This role reports to the Head of Enterprise Long Term Growth & Innovation and is based in our Hartford, CT, Home Office on a hybrid basis.

**Responsibilities**:
Innovation Process Leadership

Establish and Manage Stage Gate Operating Routine: Establish and lead the enterprise mechanism for stewarding innovations through formal Stage Gates to secure executive buy-in from the Innovation Steering Group. Key elements of this mechanism will include:
- Developing thorough, clear agendas and comprehensive pre-read fact base- Establishing and ensuring clear, consistent Stage Gate decision criteria: Recommend and manage the standards for which company executives agree to advance an innovation concept through each Stage Gate- Establishing and upholding use of clear deliverable criteria: Recommend and institute the questions that must be answered at each Stage Gate to pressure-test ideas, and the standards of excellence for how to ensure high-quality work that facilitates informed decision-making- Clarify decision-making authority for each unique opportunity

Innovation Council

Organize a monthly Innovation Council with 5-8 Innovation Leaders across The Hartford, to a) connect dots and learnings, b) serve as a brain trust or advisor for future areas of focus, c) ensure that all Horizon 2 and Horizon 3 innovations follow a common process with similar transparency- Social Innovation: Establish and lead an enterprise-wide program to tap a broader employee base for innovation ideas, e.g., implement a crowdsourcing tool / innovation knowledge management tool that captures relevant, compelling ideas- Reporting and Transparency: Maintain reports that bring transparency into Horizon 2 and Horizon 3 activities, whether managed by this group or elsewhere in the Enterprise. Reporting should document the full backlog of ideas, which have moved through each Stage Gate, and key decisions made- Oversee and coordinate the milestone plans, and Change Management plans, for the Growth & Innovation Focus Areas, including ensuring that the sponsor for each Focus Area has identified change impacts, and has a thoughtful change management plan that contemplates which audiences will be impacted, which changes require communication, and how to drive the evolution of our culture. This will require regular stakeholder review and socialization with multiple levels of the organization.- Mentor junior team members supporting enterprise-wide research and data analytics- Strategy Process- Establish, formalize, and systematize a mechanism and process, with clear expectations and milestones, for the design (and annual reevaluation) of a 5-Year Strategic Plan to be utilized by all Business Units, and for the Enterprise- Ensure each Business Unit is aware of, and on-track to meet strategy plan deadlines- Partner with the VP, Long-Term Growth, to design the 5-Year Strategic Plan for the Enterprise

Innovation Ideation

Personally lead the ideation, “skunkworks” research, concept design, and development of at least one H2/H3 innovation per year, including:
- Building and documenting fact base through research, data analysis and synthesis- Sizing the value pool- Understanding competitors’ position in the market- Maintaining external market lens- Researching and understanding customer need and demand- Leading ideation to design a concept- Validating customer demand of

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