Insurance Product Manager
This role can be filled as an Insurance Product Manager or Senior Insurance Product Manager, depending on experience.
We are seeking an Insurance Product Manager who will be accountable for the profitable growth of assigned products and states. This role will be responsible for both new product development and management of existing products.
The Product Manager will work closely with Actuarial, Filing/Compliance, Sales/Marketing, IT/Operations, Underwriting, and Claims, to develop and execute state and LOB specific strategies to achieve growth and profit targets.
You must be passionate about working with data and making quantitative insights!
- Manages lifecycle of all assigned product changes, including new product development - pricing, underwriting rules/guidelines, coverage offerings, segmentation, and risk appetite – to ensure growth and profit targets are attained.
- Innovate – identify opportunities to enhance product offerings and segmentation.
- Analyze business performance and KPIs (loss ratio, frequency, severity, new business production, hit ratio, retention, quality of business distributions, etc.) to understand and react to trends.
- Collaborate with Actuarial on rate plan development and execution including supporting rate, rule, and form filings.
- Assist in prioritizing product and rate system projects.
- Understand existing and emerging risk factors and preemptively develop product strategies in response.
- 4+ years of professional insurance experience, with a minimum 2 years of personal lines P&C background (homeowners/dwelling/property strongly preferred)
- Experience in product management and development, as well as understanding of pricing and reserving (prior P&L responsibility preferred)
- Completed actuarial exams or other insurance coursework (i.e., CPCU) preferred
- Strong analytical mindset, comfortable working with quantitative analysis and large datasets
- Excellent leadership, project management and communication skills
- Ability to work independently, manage resources, and lead complex projects
- Must be able to communicate with diverse audiences including technical and non-technical, senior management and fellow peers