Job DescriptionSUMMARY:This position is responsible for new product development and existing product enhancements for commercial property and casualty products. This position will be involved with supporting the goals and implementing best practices for all operating units and the Enterprise as a whole. This position exercises broad discretion and judgment and provides enterprise-wide operational consistency, integrity and oversight. This position performs work in support of multiple initiatives, lines of business and/or products. This position manages highly complex business processes and/or improvement efforts across multiple departments or lines of business.
RESPONSIBILITIES/TASKS: - Analyzes underwriting trends, issues, laws, regulations and best practices, and recommends appropriate actions.
- Develops admitted and non-admitted forms and rule manuals, coordinates rate development, and facilitates internal form committee alignment.
- Identifies improvement opportunities and advises management on solutions.
- Develops and presents training and programs at the Operating Unit and Enterprise levels.
- Serves as a technical expert and advisor, responding to questions, concerns and Bureau inquiries from operating units.
- Collaborates with operating units to advance enterprise cost-containment strategies.
- Represents the department and enterprise on approved committees and at events.
- Completes special projects and evaluates the effectiveness of departmental programs and initiatives.
- Maintains confidentiality of all information processed.
- Leads new market and product development for multiple commercial lines, including business cases, opportunity analysis, product design, coverage language and implementation through the Product Development Life Cycle.
- Collaborates with operating units and serves as liaison to departments involved in new market and product development.
- Provides expert guidance on highly regulated states and complex filings.
- Establishes enterprise quality-control and governance standards.
- Translates business requirements and product expertise into functional designs, documentation and technology solutions.
This position description identifies the responsibilities and tasks typically associated with the performance of the position. Other relevant essential functions may be required.
EMPLOYMENT QUALIFICATIONS:EDUCATION:Bachelor's degree in Insurance, Business, Math, Finance, or a related field required. Progress towards, or completion of, industry-recognized professional designations (i.e., CIC, AU, CPCU) preferred. Certification or progress toward certification is highly preferred and encouraged. Combinations of relevant education and experience may be considered in lieu of a degree. Continuous learning, as defined by the Company's learning philosophy, is required.
EXPERIENCE:Minimum ten years of commercial property and casualty underwriting, with strong multi-line commercial property and casualty lines experience with demonstrated technical knowledge with both small and large accounts, or equivalent experience that provides the necessary skills, knowledge and abilities. Experience with alternative market/specialty programs a plus.
Two years of experience with the Company or equivalent experience which provides the necessary skills, knowledge and abilities required.
SKILLS/KNOWLEDGE/ABILITIES REQUIRED:- Extensive knowledge of commercial property and casualty with strong multi-line experience.
- Experience in insurance product development and product ideation
- Ability to build out multi line capabilities for the enterprise (e.g. General Liability, Commercial Property, Commercial Auto, Inland Marine, Umbrella)
- Experience with insurance related regulatory and governing bodies
- Experience in implementing new product offerings into a technology platform
- Ability to exercise good judgment in evaluating and determining the propriety of accepting or rejecting commercial property and casualty risks (commercial lines) for the purposes of issuing insurance coverage.
- Demonstrated results in two or more of the following areas required: Product Development, Market Strategy, Market Research or Risk Management
- Ability to read, write, analyze and interpret policy documents, policy language, technical and financial information, and procedure manuals.
- Excellent oral and written communication skills.
- Excellent analytical skills to identify improvement needs and develop solutions.
- Ability to effectively exchange information clearly and concisely, present ideas, report facts and other information, and respond to questions as appropriate.
- Strong interpersonal skills and the ability to negotiate while creating and maintaining mutually beneficial relationships with working partners.
- Ability to manage multiple projects and meet necessary deadlines with minimal direction.
- Ability to perform necessary mathematical computations.
- Ability and proficiency in the use of computers and proficient in Microsoft Windows including spreadsheet applications and Microsoft Word.
- Ability to make competent, independent decisions.
- Ability to maintain confidentiality.
- Ability to perform other assignments at locations outside the office.
Additional Skills/ Knowledge/Abilities Required for Senior Product Manager:Extensive knowledge of commercial property and casualty with strong multi-line experience in commercial property and casualty insurance and underwriting techniques, including knowledge of occupational classification codes, loss ratios, claims histories, retention plans, scheduled credits, and other methods of acquiring and retaining favorable commercial property and casualty business.
WORKING CONDITIONS:Work is performed remotely in a virtual office environment with minimal hazards. Limited travel may be required including overnight trips for business related functions.
Pay Range - Actual compensation decision relies on the consideration of internal equity, candidate's skills and professional experience, geographic location, market, and other potential factors. It is not standard practice for an offer to be at or near the top of the range, and therefore a reasonable estimate for this role is between $120,000 and $170,000.
The qualifications listed above are intended to represent the minimum education, experience, skills, knowledge and ability levels associated with performing the duties and responsibilities contained in this job description.
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