CEO | Sumo | SMB Benefits

Full Time
New York, NY
Posted
Job description

Redesign Health is a proud Equal Opportunity Employer – we recruit, train, compensate and promote our team members based on qualifications. We know how important it is not only to include, but to actively seek out a diversity of opinions and voices.

We want to hear from you regardless of your race, religion, national origin, sex, gender identity, sexual orientation, disability, age, veteran status, or any other applicable legally protected characteristics.

About Redesign

Redesign Health is a healthcare innovation platform. We bring together entrepreneurs, industry experts, and investors to launch companies that transform the healthcare system and empower people to live their healthiest lives. Our companies include Calibrate, Lively, Vault Health and Jasper. We're capitalized with permanent capital from world-class institutional investors and entrepreneurs.

About The Opportunity

As CEO of Sumo, you will launch a new business focused on building an innovative tech and services platform that is deliberately designed to help small and medium sized businesses easily transition to self-funding, driving cost savings and more tailored employee benefits.

Small to medium size businesses (SMBs) are facing a rising healthcare cost crisis driven by a system of carriers and brokers that is incentivized to keep SMBs in expensive and generic fully-insured (FI) plan options (increasing 10%+ YoY). Where Fortune 500 companies have access to negotiating power, emerging technology, and high-quality / expensive benefits consultants, SMBs are ill-equipped to fight-back today. This is causing SMBs, now more than ever, to explore alternative benefits options to FI, evidenced in part by the massive spike in level-funded plan adoption over the last 12-24 months.

Sumo plans to upend this cycle and give power back to SMBs by placing them on a path to self-funding. Our differentiated tech and services platform provides purpose built services to our SMB clients: (i) benefits consulting, (ii) data and analytics / AI capabilities, and (iii) additional benefits products (e.g., launching a group captive that helps SMBs pool risk and negotiate better contracts under our tech and services platform).

Our offering is significantly differentiated from traditional brokers with better incentives, more innovative tech, and new product offerings overtime, ultimately driving more savings for SMBs (potentially as much as 20%+ YoY). .

Sumo is positioned to become the leading platform to help SMBs manage benefits, drive savings, and provide competitive tailored benefits at scale in a large market of $7bn - $10bn. We're redesigning the way SMBs manage employee benefits, for everyone's benefit.

What you'll do:

  • Set the vision for the company and define the overall strategy from launch to scale.
  • Structure a thoughtful, quality-focused, and operational organizational hiring plan and recruit, retain, and develop world-class talent against that plan.
  • Drive strategy and decision making across all functional areas, including product, marketing & content, operations, and finance.
  • Determine the highest order KPIs and build the plan and team to measure, monitor and improve them.
  • Lead all fundraising activities to support growth objectives in partnership with Redesign Health.
  • Drive operations, including full P&L and cash flow management.
  • Regularly partner and communicate with your Venture Chair, Redesign Health and relevant investors or Board of Directors.
  • Build out the product and technical vision, the execution framework and the team in close collaboration with the key product and engineering leaders hired.
  • Explore a variety of SMB engagement strategies to determine cost-efficient, timely customer acquisition methods that drive best-in-class engagement and retention rates.
  • Build brand identity.
  • Create and sustain a great company culture consisting of clearly articulated values and inspired leadership.

What you'll need:

  • Background
    • 10+ years experience, with progressively more senior roles including a CPO, GM, Chief Commercial Officer or CEO.
    • 5+ years building/operating in a brokerage, PEO or insurance/InsurTech setting
    • 3+ years of experience selling HR or data & analytics related platforms into SMBs.
    • 3+ years experience designing and implementing customer engagement & retention strategies.
    • Proven track record of building successful, high-growth businesses from the ground up.
    • Track record of success: Demonstration of intellectual curiosity, extreme levels of accountability, and an ability to be incredibly decisive.
  • Skills
    • Ability to Fundraise.
    • Experience selling into SMBs: understands the sales cycle, motivations and goals of relevant stakeholders, and has a rolodex of SMB leaders.
    • Seller mindset: A distinct view of being the "seller" and the face of the business, comfort pitching the business, and the ability to distill the value proposition into an easily understood story.
  • Behavioral Competencies
    • Action Orientation. Readily takes action on challenges, without unnecessary planning. Identifies and seizes new opportunities. Displays a can-do attitude in good and bad times. Steps up to handle tough issues. Taking on new opportunities and tough challenges with a sense of urgency, high energy and enthusiasm.
    • Resiliency. Is confident under pressure. Handles and manages crises effectively. Maintains a positive attitude despite adversity. Bounces back from setbacks. Grows from hardships and negative experiences. Rebounding from setbacks and adversity when facing difficult situations.
    • Drives Vision and Purpose. Talks about future possibilities in a positive way. Creates milestones and symbols to rally support behind the vision. Articulates the vision in a way everyone can relate to. Creates organization-wide energy and optimism for the future. Shows personal commitment to the vision. Painting a compelling picture of the vision and strategy that motivates others into action.
    • Drives Results. Has a strong bottom-line orientation. Persists in accomplishing objectives despite obstacles and setbacks. Has a track record of exceeding goals successfully. Pushes self and helps others achieve results. Consistently achieving results, even under tough circumstances.
    • Financial Acumen. Understands the meaning and implications of key financial indicators. Uses financial analysis and tools to generate, evaluate, and act on strategic options and opportunities.

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