Long Term Care Vice President of Marketing, Product Management, and Strategy

  • Competitive
  • Austin, TX, USA
  • Permanent, Full time
  • New York Life Insurance Company
  • 21 Nov 17 2017-11-21

Long Term Care Vice President of Marketing, Product Management, and Strategy

New York Life Insurance Company ("New York Life" or "the company") is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterrey New York Life in Mexico.

New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2016 operating earnings of $1.954 billion. Total assets under management at year end 2016, with affiliates, totaled $538 billion. As of year-end 2016, New York Life's surplus was $23.336 billion**. New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody's Aaa; Standard & Poor's AA+. (Source: Individual Third Party Ratings Report as of 8/17/16).

Financial strength, integrity and humanity-the values upon which New York Life was founded-have guided the company's decisions and actions for over 170 years.

New York Life Insurance Company's (NYL) Long Term Care (LTC) business is seeking a highly qualified individual to lead its Marketing, Product Management, and Strategy team based in Austin, TX. The Vice President will be responsible for consumer and channel marketing, including the digital consumer/agent marketing experience, as well as leading communications and competitive intelligence. In addition, this individual will help oversee the management of new product development of long term care insurance solutions (with an emphasis on the worksite market), including the oversight of the in-force performance for existing products. This individual will also help support the development of NYL's LTC strategy and the evaluation and implementation of new business opportunities to drive sales for LTC.

Role Responsibilities:

  • Lead consumer and channel marketing, including designing and implementing the digital experience and direct-to-consumer lead generation strategy:
    • Work with cross-functional teams, including operations, claims, new business, and information technology to develop and execute a digital strategy for LTC and linked benefit products
    • Coordinate with the NYL Internet team, NYL Direct, NYL Communications, and NYL Marketing to leverage existing company capabilities or support broader NYL initiatives that could impact the Long Term Care business
  • Lead communications:
    • Manage communications to employees, agents, and policyholders
    • Communications include, but are not limited to, employee town halls, implementation of new products, and operational enhancements that impact our policyholders
  • Lead competitive intelligence:
    • Manage competitive intelligence for both stand-alone long term care and linked benefits, including analyzing competitors' products in comparison to products offered by NYL
    • Support agents with intelligence as they encounter competitive sales situations
  • Lead product development initiatives and in-force management for LTC:
    • Manage the development of new products within Long Term Care, with an emphasis on the worksite market
    • Evaluate the performance of existing or previously sold LTC products
    • Lead reviews of product mix, product performance vs. pricing, and value of new business (in conjunction with the actuarial function)
  • Support the development of NYL's strategy and the evaluation and implementation of new business opportunities, including new market segments, to drive LTC sales:
    • Develop the marketing, product, and new business strategy for the Long Term Care business, including stand-alone long term care and linked benefits, in concert with the broader strategy for the LTC business
  • Lead a cross functional team of marketing, product development, and communications employees

Role Requirements:
  • 15+ years of insurance industry experience, including 5+ years of managerial experience
  • Background in marketing of insurance products
  • Background in product management of insurance products
  • Background in new business development opportunities
  • Demonstrated experience in strategic planning and execution
  • Demonstrated experience successfully leading a diverse functional team, including executing on strategic priorities
  • Bachelor's Degree required; Advanced Degree preferred
  • Life and/or LTC product/marketing experience preferred

SF:LI-KR1
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* Based on revenue as reported by "Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 17, 2016. See http://fortune.com/fortune500/ for methodology.
** Total surplus, which includes the Asset Valuation Reserve, is one of the key indicators of the company's long-term financial strength and stability and is presented on a consolidated basis of the company.

1. Operating earnings is the key measure use by management to track Company's profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US (GAAP), with certain adjustments Company believes to be appropriate as a measurement approach (non GAAP), primarily the removal of gains or losses on investments and related adjustments.

2. Assets under management represent Consolidated Domestic and International insurance Company Statutory assets (cash and invested assets and separate account assets) and third party assets principally managed by New York Life Investment management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company.