VP Insurance Product Design & Implementation

Highmark Health • Washington, DC

7d • $185,000 - $335,000 • Remote

About The Position

The VP Insurance Product Design & Implementation is accountable for Highmark’s insurance product design, delivery and ongoing administration in the Commercial and Government segments. The design function will both deliver on and help to shape the multi-year insurance product roadmap across segments, providing insights on product performance, opportunities for simplification, and customer insights, and will also influence the product capability investments made by the company. This position is also accountable for ensuring on-time, on-budget delivery of the insurance products on the roadmap through cross-functional collaboration with various business and technical teams across the enterprise. Finally, the team owns all aspects of insurance product administration, including regulatory applications/filings, contracts, mandate compliance and sales support. Other critical priorities include the ongoing stabilization of the product portfolio (rationalization, simplification) and ensuring that product capabilities (standardization) are appropriately effectuated. In the delivery of the product strategy led by the VP, Product Strategy, Design, & Experience, this role focuses on the customer, their goals, needs and pain points, and partners with senior leaders in our segments, markets, and leaders of functional areas across the enterprise to ensure that our insurance product portfolio meets the evolving needs of our customers within a highly regulated and competitive marketplace and aligns to our enterprise strategies. A successful incumbent will master cross-functional coordination, prioritization, decision making, and delivery of strategic priorities while ensuring that our complex product portfolio is effectively maintained, simplified, and enhanced. Key skills and experience for the role include product development, implementation; performance analysis and reporting; business planning and tradeoff decision making; customer insights; healthcare compliance and regulatory environment; and internal/external service delivery partner interactions.

Requirements

• Bachelor’s Degree in Business Administration or other advanced degree
• 7-10 years of experience in healthcare strategy execution
• 7 years of experience with deep breadth and depth of business knowledge across relevant functions (product, marketing, operations, etc.) in healthcare or similarly regulated product industry
• 5 years in a leadership role, with demonstrated ability to work in a matrixed organizational environment
• Demonstrated program/product delivery, analytic and strategic problem solving skills
• Thorough knowledge of insurance, healthcare, insurance administration, marketing, business planning, financial management, reimbursement, and operations in health care markets.
• Strong understanding of market trends/needs, business requirements and balance them successfully.
• Ability to directly and successfully lead, mentor and develop a talented team of high-performing individuals in a fast-paced environment.
• External market orientation.

Nice To Haves

• Deep healthcare expertise
• Experience managing complex delivery initiatives in the healthcare or insurance industry
• Track record of driving transformational change, leading teams, developing talent, and building relationships
• Experience in Product Management, Design Thinking, and/or other similar processes and methods

Responsibilities

• Working across functions, responsible for the delivery of the multi-year insurance product strategy integrating insurance product design and experience (benefits, networks, medical management, reimbursement design, ancillary benefits, digital tools, customer service features, etc.).
• Prepares detailed design specifications and coordinates/leads insurance product portfolio implementations, including new and enhanced products/features, through complex, cross-functional strategic initiatives.
• Provides subject matter expertise, including regulatory and operational insights, during strategy and design process for new and enhanced solutions, products and benefits.
• Working collaboratively with various cross-functional stakeholders in the organization, administer broad and complex portfolio of market differentiated and compliant insurance products across markets and segments.
• Timely and accurate applications and filings to federal and state regulators.
• Managing insurance product compliance with federal and state mandates.
• Drafting, updating and filing insurance product contracts with regulatory agencies.
• Benefit and collateral quality control
• Product-related sales support, including RFP support, internal/external sales training, etc.
• Lead structured product portfolio reviews to support updates on plans, delivery, and the launch of the product portfolio.
• Actively seeking opportunities to retire underperforming or outdated products in the market and streamline and simplifying the overall portfolio.
• Working with Sales and Government Markets to determine guardrails around which modifications to standards designs can occur.
• Working with Segment and Market leads, actuary, finance and others, develop targets for product performance and assess performance against membership and financial targets.
• Leveraging detailed analytics, identifying opportunities to improve product performance (e.g., enrollment, medical cost management) and creating solutions to drive greater customer value.
• Understand and share what worked well and what didn’t work well based on actual market experience and identify opportunities for improving specific product performance.
• Other duties as assigned or requested.

Benefits

• Base pay is determined by a variety of factors including a candidate’s qualifications, experience, and expected contributions, as well as internal peer equity, market, and business considerations.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive