Senior Insurance Product Manager - Commercial Liability Insurance
AF Group

Job Info

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This position is responsible for new market development, new product development and existing product enhancements from a Commercial General Liability technical underwriting perspective. This position serves as a commercial General Liability technical underwriting expert in a commercial multi-line environment and 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 relating to General Liability and/or products. This position manages highly complex business processes and/or improvement efforts across multiple departments. This position is an individual contributor role.

RESPONSIBILITIES/TASKS:

• Leads the development of new products for the Liability line of business to enable the profitable growth of the line.
• Manage accumulation exposures across the US to ensure adequate spread of risk.
• Assists in aggressively identifying, solving and managing / re-directing problem markets.
• Analyzes current and potential book of business and provides appropriate recommendations for growth and/or improvement.
• Assists in the development, implementation, and monitoring of enterprise underwriting policies, procedures, workflows, and best practices.
• Identifies and establishes strategy for quality control to ensure consistency with best practices and workflows; performs Second Line of Defense Audits to ensure established Underwriting Guidelines, processes, and compliance needs are met.
• Collaborate with the Reinsurance team to provide guidance and insight to the book of business.
• Identify Emerging Issues relating to Liability and make recommendations to manage those risks for the enterprise.
• Participates in the identification, preparation and presentation of training and programs at an Operating Unit and Enterprise level.
• Serves as a technical subject matter expert and consultant in Corporate Underwriting, determining pricing, programs, and analyzing accounts above authority limits or referrals from elsewhere in corporate underwriting and from operation unit managers or underwriters
• Collaborates with enterprise operating units and Corporate Underwriting in furtherance of enterprise cost containment strategies as necessary.
• Identifies third party vendors/capabilities to deliver innovations within the Liability segment to enable effective Risk Selection and Pricing for New Business and Renewals by the Underwriting teams.
• Conducts underwriting due diligence on new Programs in the alternative market/specialty programs space, and other assignments, as needed.
• Performs special projects, as assigned. Provides evaluation and input regarding effectiveness of departmental programs and projects.
• Leads the research, analysis and implementation of new or existing product ideas, market development, and product enhancements, including creating supporting business cases, designing solutions, and implementing innovative products for Commercial Liability lines of insurance.
• Evaluates the cost benefit of market opportunities and product initiatives and recommends actions based on evaluation, including identifying product improvements for complex product and policy construction considerations.
• Develop new product ideas, review existing and drafts new coverage language, and executes to the Product Development Life Cycle.
• Responsible for creating best practices, underwriting guidance and training to engage enterprise.
• Maintains Expert knowledge including state regulations, compliance, coverages, operational processes, underwriting criteria and system application and tools.
• Research and approve complex updates and changes to ISO Recommend actions based on regulatory changes.
• In collaboration with Corporate Underwriting Line of Business owner, develops underwriting guidelines and letters of authority, for new programs / products within the Commercial Property arena.
• Works with third party vendors (ISO, Financial Reporting vendors, etc.), and manages consultant relationships with our internal partners to integrate product needs based on market, product and technical requirements.

Additional Responsibilities for the Senior Product Manager:

• Assists in new market development, including creating supporting business cases, drafting white papers and acting as a liaison to departments involved in new market development for Commercial Liability.
• Understands complex reinsurance structures.
• Conduct full policy wording reviews for New Business and Renewals to ensure compliance with underwriting guidelines and AF Group Underwriting appetite.
• Serves as owner for drafting, developing and implementing new products or organizational practices specific to the product.
• Develops underwriting guidelines and letters of authority, for new programs / products within the liability arena - in conjunction with workers compensation and other commercial lines of insurance.

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 seven years of commercial liability underwriting, and product management/development experience with demonstrated technical knowledge with both small and large accounts, or equivalent experience that provides the necessary skills, knowledge and abilities; or any combination of education and experience that would provide an equivalent background.

Additional Experience for Senior Product Manager:

Minimum ten years of commercial liability underwriting, with strong commercial property experience with demonstrated technical knowledge with both small and large accounts, or equivalent experience that provides the necessary skills, knowledge and abilities. Strong multi-line casualty experience is a plus. Experience with alternative market/specialty programs a plus. Two years of experience with the Enterprise as a Corporate Underwriting Consultant or equivalent experience which provides the necessary skills, knowledge and abilities required.

SKILLS/KNOWLEDGE/ABILITIES (SKA) REQUIRED:

• Extensive knowledge of commercial liability Underwriting experience.
• Experience in insurance product development and product ideation
• Ability to build out liability line capabilities for the enterprise
• 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 liability risks for the purposes of issuing insurance coverage.
• Demonstrated results in three 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 (SKA) Required for Senior Product Manager:

• Extensive knowledge of commercial liability line experience in underwriting techniques, including knowledge of occupational classification codes, Property rating, industry loss ratios, claims histories, retention plans, pricing deviation factors, and other methods of acquiring and retaining favorable Property business.

WORKING CONDITIONS:

Work is performed in a virtual office and onsite office setting with no unusual hazards. Minimum travel is required.

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.

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 $90,400 and $171,500.

We are an Equal Opportunity Employer. Diversity is valued and we will not tolerate discrimination or harassment in any form. Candidates for the position stated above are hired on an \"at will\" basis. Nothing herein is intended to create a contract.

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