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Account Manager - Insurance

- 230001YS)

Location

Hybrid with base location as either Edinburgh, Widnes, Coventry, or London

In a nutshell

To deliver the insurance strategy for white label products to meet commercial goals (sales, retention, income and profit).

To ensure that the product, customer service and operations meet the needs and expectations of the Sainsbury’s customer base and to achieve the growth and profitability objectives of Sainsbury’s Bank ensuring they are consistent with overall Sainsbury's Bank product and customer strategies. To own, develop and ensure appropriate governance of the relationship with the outsource provider(s).

To act as the SB representative in all day to day matters with the outsource provider(s). To own develop and ensure appropriate governance and commercial developments and support the design and implementation of the acquisition and retention strategy. Ensure speedy delivery and implementation of agreed rate changes.

To deliver the insurance strategy for their product(s) to deliver to agreed budgets (sales, retention, income and profit).

To ensure that the product, customer service and operations meet the needs and expectations of the Sainsbury’s customer base and to achieve the growth and profitability objectives of Sainsbury’s Bank ensuring they are consistent with overall Sainsbury's Bank product and customer strategies. To own, develop and ensure appropriate governance of the relationship with the outsource provider(s).

To act as the SB representative in all day to day matters with the outsource provider(s). To own develop and ensure appropriate governance and commercial developments and support the design and implementation of the acquisition and retention strategy. Ensure speedy delivery and implementation of agreed rate changes.

What you need to do

• Develop and deliver a joint comprehensive development plan for respective products that drive continuous improvement and that also take into account the need to manage outsource provider(s) profitability - includes key metrics e.g New Business, Cancellation, Retention, Average Premium, Claims Frequency, Loss Ratio
• Be responsible for recommendations for product pricing and amendment of product features.
• Work collaboratively with our external and internal stakeholders to pro-actively deliver the targets in our P&L through continuous improvement of prices and acceptance criteria, including the use of Nectar Data and relevant MI/data
• Drive the analysis of outsource provider(s) and customer data to identify opportunity to improve net rates and quotability
• To act as the key contact in all day to day matters. Own develop and ensure appropriate governance with the insurers. Support and contribute to the design and implementation of the acquisition and retention strategy for the relevant product category including the use of nectar data in line with our pricing strategy
• Have a strong awareness and understanding of conduct risk, specifically the delivery of consumer duty and good customer outcomes.
• Be the product expert on developments, changes, initiatives, new entrants that will inform and improve our strategy and product offering.
• To contribute to development of the annual budget and subsequent forecasts for the relevant product category, working jointly with outsource provider(s) and key internal stakeholders to ensure the commercial plan is effective both from a sales, income and profit viewpoint.
• Have a sound understanding of the insurance industry and latest market activity. Keeping SB up to date with current market activity so as to gain market advantage

A Little Bit About Us And Our Culture

We’re proud of our heritage as the UK’s first supermarket bank. As digital technology drives the banking landscape, we want to be at the cutting edge of this technology, offering award winning innovative digital banking products to our customers. Technology is where we see our growth therefore, we need innovators to join us and drive the next phase of our evolution.

We’re a friendly bunch who collectively share a passion to make our customers’ financial lives easier. As part of the wider Sainsbury’s Group, being one of the UK’s most trusted brands, it brings our colleagues a wealth of opportunities to fulfil their potential. Here, you can be part of something bigger and help to create a new approach that puts the customer at the heart of everything we do.

Everyone is welcome at the Sainsbury’s Group, and we’re proud to be an equal opportunities employer that champions a diverse and inclusive culture that reflects the diversity of the communities we serve.

Work-life balance is important to us, so we offer our colleagues as much flexibility as possible in line with the needs of their role. We trust them to decide how, where and when they work, combining remote and collaborative working with a flexible approach to hours within their working days, giving plenty of time and space for life outside of work whilst delivering against our business goals.

As this role involves working within a regulated environment any offer will be subject to satisfactory background checks including criminal record check, credit check, fraud check and employment references.

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Primary Location

GB-GB-Edinburgh

Work Locations

Sainsburys Bank Lochside and Home Sainsbury's Bank 3 Lochside Avenue Edinburgh EH12 9DJ

Job

Insurance

Schedule

Full-time

Advertised Salary N/A