Job Description

General Summary :

Directs the development of new products and the enhancement/maintenance of existing products to include the construction of appropriate policy language and forms, required coverages, recognition of potential exposures, and necessary rating structure to enhance the company's ability to achieve its production and profit objectives. Manages the process of product development/enhancements within the goal of timely execution through joint coordination with all functional areas. Working in an agile environment alongside developers and quality assurance testers is essential. The position is also responsible for ensuring that new and existing policy forms meet state laws and regulations in accordance to the various state insurance departments' requirements.

A Day in the Life of a Product Specialist II :

• Serves as product expert for specific products, knowing both the product and how it should operate within the policy issuance and quoting systems.
• Actively manages the performance of assigned products, including monitoring product performance and identifying opportunities to improve performance.
• Interacts with multiple departments to coordinate the development of new or revised products.
• Monitors, reviews, interpret and clearly communicate changes and trends in state laws, regulations and requirements affecting insurance.
• Ensures required action for timely regulatory review and approval of products and activities including forms design and overseeing submission of approval by insurance departments.
• Participates in the product planning process by researching, analyzing, and proposing new products for development.
• Monitors and evaluate competitors' products, rates, and services and industry best practices.
• Develops and delivers new products, changes to existing products, and training as appropriate.
• Writes system enhancements as a result of product changes.
• Assists in testing product changes.
• May perform product filings.
• Performs other duties as assigned.

You May also :

• Attend seminars to keep abreast of related changes in the industry.
• Conducts and attends meetings as needed and required.

You may be a great fit for this role if you :

• Have a college degree with a major in insurance, actuarial science, mathematics, risk management, economics, finance, accounting, business administration or related field preferred. CPCU designation with related products management experience preferred. Candidates with extensive insurance experience will also be considered.
• Have a minimum of five years of related experience.
• Demonstrated working knowledge of analytical tools, knowledge of core business functions, underwriting policies and best practices, performance measurement techniques, and systems required.
• Strong knowledge of related pricing, marketing, insurance models/ contracts and financial analysis necessary.
• Ability to understand the external environment and to apply a strategic view when managing product performance and determining opportunities for improvement.
• Strong oral and written communication skills.
• Ability to guide others to achieve common goals.
• Have strong organizational skills.
• Ability to maintain a high degree of concentration.
• Ability to operate a PC and various office equipment.

Working Conditions :

• Normal office working conditions
• Sitting for extended periods of time
• Infrequent walking throughout the office building
• Continuous use of the computer and associated visual concentration and eye strain
• Stress associated with meeting deadlines

Job Tags

Similar Jobs