Job Details

General Description:

The Commercial Lines Product Manager will lead the development of new commercial lines programs. This is a highly technical, hands-on role, where the Commercial Lines Product Manager will be responsible for the creation, enhancement, and implementation of comprehensive insurance products that meet market needs and drive business growth.

The Commercial Lines Product Manager (CLPM) will identify target market segments and perform industry and competitor analysis, translating business objectives into product strategies and roadmaps from concept through delivery of programs for production.

The CLPM is responsible for all aspects of multistate product development; pricing, coverage, rules and guidelines in compliance with state laws and regulations in each of the states in which the programs will be offered.

Essential Duties and Responsibilities:

Lead the product development process to produce initial rate, rule and form filings for new products as assigned by department leadership.

Gather and incorporate input from Sales, Risk Management, Actuarial, Underwriting, Claims, Systems. Legal and Regulatory Compliance into the product development process to ensure the needs/concerns are appropriately addressed and result in comprehensive products that return a consistent profit while meeting market need.

Manage the filing processes on all new programs, coordinating, compiling and submitting responses to regulator inquiries and requests for information on filings within established timeframes.

Communicate details of new product filings to appropriate internal departments, as warranted, including providing programming requirements for the implementation of new programs into the front and back-end policy administration systems.

Develop requirements for data reports needed to monitor program trends and key performance indicators and will work with the Reporting team to gather data from any and all systems and to validate that data is, and remains, accurate for the life of the reports. In addition, the Commercial Lines Product Manager will use advanced data collection and analysis skills to assess the effectiveness of program initiatives in meeting stated goals.

Responsible for pre and post promote validation of system programming related to new product launch to validate that system processes are consistent with the programming requirements provided for all assigned programs in all Policy Administration Systems currently in use to produce applications and policies in the assigned states.

Responsible for the development of programming requirements with enough detail to efficiently produce the data elements needed for proper evaluation of pricing, segmentation, overall program results, financial reporting, statistical reporting and to support regulatory data call requirements for assigned states.

Participate in onboarding and technical development of department staff.

Maintain an understanding of emerging trends in P&C insurance, sharing knowledge with the broader product and business teams.

Some travel may be required.

Performs other duties as required.

Supplementary Information:

This job description has been prepared to indicate the general nature and level of the work that the employees perform within their classification. This description is not to be interpreted as an inventory of all the duties, tasks, responsibilities and qualifications required for the employees assigned to this job.

Education and Experience:

Bachelor’s degree in business or related discipline.

Five (5) years in commercial lines product management within the insurance industry required.

Strong familiarity with ISO rules, forms, and regulatory filing processes and experience analyzing competitor filings and market data strongly preferred.

Deep understanding of the P&C insurance industry and specifically, commercial lines, a recent and comprehensive product development background, and a track record of delivering successful programs that meet or exceed ROI expectations.

Strong ability to analyze data and identify trends. Experience with advanced data creation and analysis are highly preferred.

Ability to develop and execute product strategies.

Excellent written and verbal communication skills, including the ability to communicate complex information clearly.

Ability to lead cross-functional teams and influence stakeholders.

Understanding of business principles and market dynamics.

Experience with development and submission of filing via SERFF and IRFS.

Experience and proficiency working in a fast-paced environment, managing multiple projects simultaneously to deliver new programs with accuracy, on time and within budget.

Proficiency with Microsoft Suite, including but not limited to Excel, Word, Access, Outlook, and PowerPoint.

Licenses and / or Certifications:

CPCU or similar insurance certification preferred