Fast Decisions Make an Impact: Velocity at Ethos

Enduring and successful startups are differentiated by many factors: a product solving a real problem, a delightful product experience, a stellar leadership team, and much more. At Ethos, on top of all these things, we are differentiated by our velocity.

Velocity, or speed of execution, is critical — and the leverage it gives a team or an organization is probably underestimated. History has shown us that innovation and progress can accelerate when a team executes with speed.

At Ethos, we take velocity — our speed of execution — as seriously as the product we are building. We live up to our core value “Bias for Impact” each day, every day. With 12+ product development teams spread across the US, Singapore, and now India, our teams execute with intensity, solving difficult problems fast and efficiently. Last year, we launched a product which involved 50+ internal stakeholders, four external partner integrations and huge refactoring of our code in eight weeks. This enabled a new segment of customers, protecting more families and expanded our product portfolio.

So, how do we do it? There are three key pillars to our velocity: the Technical Program Management team, the Program execution frameworks, and our cultural Bias For Impact that drive execution at Ethos.

The Technical Program Management (TPM) team lies at the heart of our velocity. They break team silos and help deliver high impact cross functional programs from conception to shipping the product. Their role is exemplified at three levels. Program Managers are:

• Program Leaders for product launches driving execution from inception to launch, including driving milestones, cross functional stakeholder management, dependencies, risks, and partner integrations.
• Partners for Product, Engineering and UX design driving mission critical projects every quarter following a product development process.
• Agile champions defining and facilitating agile methodology for the team and improving team efficiency and velocity.

We have built Program execution frameworks and playbooks that provide astructure for executing programs of different sizes and nature to run as a well oiled machine. This includes playbooks for:

• Product Development: Astep by step process for building a product, including project kick offs, product & engineering specs reviews, cross team engagement, QA and launch. This ensures that we are moving with high speed but also building a high quality product.
• External Partner engagement: As an Insurtech product, most of our product development includes integrating with external carriers and partners. We have a playbook outlining how to manage these integrations efficiently.
• Agile framework: With a lean and efficient scrum implementation we have built guidelines on how to optimize these processes using software development tools. Along with these, are guidelines on how to identify bottlenecks and leading indicators of anomalies impacting project deliverables so we can act quickly.

A culture of Bias for impact: Embedded in our culture are key mindsets which support high velocity.

• Relentless execution: We don’t delay. If it is 6 PM and the team has made a decision, we take the next step right there and then. If it can be done that day, we do it that day. This tenacity of execution, when compounded across the organization of 300+ people, creates a substantiation and exponential impact and leverage.
• Fast decision making: We are a data obsessed company, but we don’t let lack of data delay the execution. We make decisions fast, especially when the decision is reversible. We also empower teams to make decisions rather than adding layers of bureaucracy for decision making. Teams welcome all perspectives openly, and then commit as one to the group’s decision.
• Ownership: This is the heart of execution and velocity. At Ethos, we don’t hesitate to bring up issues, challenges, or risks, even if they don’t belong to your role or your team. We embody our principle “speak your mind”: If you find a risk or a bottleneck, speak up — and own it until you find the right owner.

Two years ago I arrived to build the Ethos Program Management Team, when the company had about 100 people. This was a dictum of a belief on how the leadership team believed in the value of executing well. At the heart of our relentless execution lies a very special culture with smart, driven, and humble individuals who make an impact every day.

Come and join us to build the most technologically advanced Insurance Platform in history.

Harneet joined Ethos in December 2019 and leads the Program Management team. When Harneet isn’t driving mission critical programs for Ethos, he enjoys Meditation, Yoga and Biking. Interested in joining Harneet’ team? Learn more about our career opportunities here!