THIS IS A FULL-TIME, EXEMPT ROLE. POSITION OVERVIEW: Our Commercial Lines Product Management Organization is seeking a Specialty Product Manager who will provide leadership, support, guidance, and expertise to facilitate the development, maintenance, and implementation of Professional and Executive Lines (PEL) products. This Product Manager role will specialize in Management Liability, with a focus on Directors and Officers liability, Employment Practices liability, Fiduciary liability, Cyber, Crime, and Kidnap and Ransom. The Product Manager supports the strategic operations as well as the overall profitability, growth and retention of their assigned product line by delivering industry leading and market competitive product offerings.
This role supports key strategic functions pertaining to the assigned line of business, including strategic product development and support, market research and analysis, and product maintenance, delivery, and regulatory compliance. The Product Manager will work collaboratively with others on matters related to product, underwriting and compliance, including but not limited to: Specialty Underwriting, Claims, Legal, Actuarial, IT and Compliance.
IN THIS ROLE, YOU WILL:- Lead thedevelopment, design and maintenance of proprietary Management Liability coverage forms and associated rules for both admitted and non-admitted use. This includes drafting new forms and revising existing forms to meet unique underwriting needs and an evolving legal environment.
- Monitor and analyze regulatory and judicial environments to remain compliant in writing states.
- Conduct, monitor, and interpret market research and competitive analysis for the assigned product and line of business.
- Work collaboratively with Specialty Underwriting to establish and support professional and executive lines strategies and goals.
- Develop filing strategies and manage and respond to State Department of Insurance objections and inquiries as necessary.
- Mentor and collaborate closely with Product Analysts.
WHAT YOU NEED TO APPLY:- 3-5 years of Specialty insurance experience with working knowledge and experience in product; or any combination of education and experience, which would provide an equivalent background.
- Demonstrated and thorough understanding of specialty insurance products, policy wording, forms drafting, coverages, and regulatory environment.
- Advanced leadership skills, innovation skills, initiating skills, organization, and time management skills.
- Excellent oral and technical writing communication skills as well as attention to detail.
- Advanced ability to comprehend and communicate intent of product strategies, underwriting strategies and inter-relationships with coverage.
- Strong ability to influence strategic decisions that support corporate goals.
- Superior interpersonal skills which align with Hanover's CARE values.
CAREER DEVELOPMENT:It's not just a job, it's a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you - at every level - to grow and develop.
BENEFITS:We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you'll enjoy what you do and have the support you need to succeed.
Benefits include:
- Medical, dental, vision, life, and disability insurance
- 401K with a company match
- Tuition reimbursement
- PTO
- Company paid holidays
- Flexible work arrangements
- Cultural Awareness Day in support of IDE
- On-site medical/wellness center (Worcester only)
- Click here for the full list of Benefits
Compensation:The target hiring range for this role may vary based on geographic location and other factors, including merit or performance, demonstrated proficiency, skills for the role, education, travel requirements, and experience. Additional compensation may include an annual bonus (which could take the form of a general bonus, sales incentive, or short-term incentive), long-term incentive or spot recognition awards. The posted range reflects our ability to hire at different position titles and levels depending on background and experience.
