Director Of Retention

About Marshmallow

We started Marshmallow when we found out how unfair insurance prices are for people who move to the UK. All because the industry hasn’t given this huge cohort of people a second’s thought, and isn’t set up to price them properly. 

We saw an opportunity to do things differently, so we made it our mission to back the ones who step outside the norm. Since we started, we’ve helped 100,000s of people get a fairer deal on their car insurance. Using technology, we serve people that are often overlooked by financial services companies, solving important problems for people who need it most. 

We know there are millions of marginalised customers out there. And we know that they face unique problems that most companies aren’t even aware of. We believe that our future is helping these people by learning about their experiences, and building our company around their needs. And there are strong signs that there’s a need for a company like us. Earlier this year we hit profitability, which is a huge milestone, but the most exciting thing is that we’re only just getting started.

How we work

We’re really proud of the culture we’ve created. We push for progress every day, because we know that we’ll only hit big milestones by taking lots of smaller steps. We’re always open to helping our team mates, sharing our ideas, experience and knowledge to solve problems together. We take risks, think creatively and experiment relentlessly to meet our customer’s needs, and never pass blame when things go wrong. We encourage people at all levels to take ownership of their work, and to be bold in challenging how we do things. Everyone has a voice and the opportunity to make an impact. 

And autonomy and ownership are only possible with clear direction. That’s why we collaborate to do in-depth planning twice a year, and make sure we leave with clear goals and objectives that flow from top to bottom. To make sure we’re as aligned as possible across functions, most of our work rolls up into four tribes; Acquisition, Retention, Claims and Pricing, Underwriting & Fraud. Each tribe has multiple teams embedded in it, working cross-functionally to do great work.

We’re so excited for all of the challenges up ahead, and we need more people to help us tackle them! If life at Marshmallow sounds like it could be for you, explore our culture handbook or read our blog to find out more.

The Retention Tribe

We have organised Marshmallow Car Insurance around 4 cross-functional tribes: Acquisition, Retention, Claims & Underwriting. These tribes bring together different functions and drive decision making in their relevant areas. 

Retention is responsible for the profitability of Marshmallow’s customer base after they onboard, and a large proportion of the product work that engages customers with our product.

Retention owns metrics such as LTV, retention rate, NPS, policies per customer, and average revenue per customer. The tribe includes colleagues from Engineering, Data, Product, Pricing, Operations, & Marketing. Our ambition is to stand out from the rest of the insurance market as a business that truly values its customers, with distinctive products that provide highly defensible ways to build loyalty with customers. As such, the tribe splits its time between (1) investing in major new 0-to-1-style product capabilities, (2) building leading conversion and retention journeys for our existing products, (3) delivering a world class, highly efficient, support experience to customers.

We are looking for a Director of Retention to lead the Retention Tribe, responsible for over £100m of turnover and £30m in gross profit. This person will be an important and highly visible commercial and product leader at Marshmallow, and key to driving Marshmallow’s growth.

What you’ll be doing

• Reporting to the Co-CEO, you will be responsible for all post-acquisition car insurance revenue lines. You will own the annual budget for these lines and report on them regularly to the Senior Leadership Team.
• You will define a 3 year retention and LTV strategy, and be responsible for communicating it to the business and then delivering the strategy you set out.
• You will have senior product managers reporting to you, who direct the efforts of 4+ product teams driving the product roadmap for their relevant areas. You will be responsible for the overall product strategy and ensuring that Retention’s product and engineering capacity is driving business value.
• You will be responsible for digitising and automating our operational processes: we aspire to use the bleeding edge of AI to at least double our efficiency and significantly improve customer experience. You will work alongside the Director of Operations to achieve this, you will lead on any digitisation.
• You will direct work across pricing, data, operations, CRM, marketing and more. Leaders in these areas who work on retention problems will have a ‘dotted-line’ relationship to you, and you will direct their priorities to deliver towards the Retention strategy.

Who you are

We are looking for a candidate who has strong evidence of the following skills and experiences:

• You either have product management experience or you have significant experience working with senior product managers and directing product priorities. You have driven high performance and impact from product teams.
• You have managed across multiple direct reports, and have a track record of driving exceptional standards and high quality work. You help those you manage and work with achieve their full potential.
• You sweat the details, you are highly detail oriented and can manage across large volumes of data points and metrics
• You are able to convey strategy and vision through exceptional written and verbal communication skills.
• You have excellent quantitative skills. You love numbers, can manage through them, and would be very comfortable working in a quantitative field like insurance.
• You should have experience managing multi-million pound revenue or P&L line(s), including budgeting and forecasting. You have driven outstanding results across those lines.
• Financial services experience, insurance experience, or experience working in a regulated industry is helpful but is not required.

Everyone belongs at Marshmallow

At Marshmallow, we want to hire people from all walks of life with the passion and skills needed to help us achieve our company mission. To do that, we're committed to hiring without judgement, prejudice or bias.

We encourage everyone to apply for our open roles. Gender identity, race, ethnicity, sexual orientation, age or background does not affect how we process job applications.

We're working hard to build an inclusive culture that empowers our people to do their best work, have fun and feel that they belong.

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