Director, Product Development - Professional Lines
This position will be responsible for managing the Professional Lines product strategy and oversee the development process, regulatory approval, and deployment of Directors & Officers (D&O), Errors & Omissions (E&O), Employment Practices Liability and/or Fiduciary Liability products to the market. Partner with leaders of marketing and underwriting in creating and managing products. Have accountability for financial performance of products for all professional lines in applicable regions. Utilize market research data to identify, analyze and evaluate new markets and products. Manage the communicating with and training to Professional Lines underwriting staff.
- Lead product development for professional lines of business in coordination with COO, Head of Professional Lines, Actuarial and Marketing.
- Obtain and analyze industry and competitor information with the intent of (a) developing new products and (b) enhancing current products in order to create competitive offerings that achieve superior underwriting margins.
- Identify and monitor industry trends and opportunities.
- Lead and manage management liability product staff, whose responsibilities include but are not limited to:
- Conducting market research, underwriting guide development, product development, application development, and rate/rule/form reviews and analysis;
- Collaborating with Actuarial Department in rate reviews and obtaining support, when needed, for filings;
- Guiding and administering submission of rate, rule, and form filings, including review of objections and responses to Departments of Insurance;
- Assisting IT and others in the development and implementation of system enhancements and serving as technical systems support;
- Working with Marketing Department to ensure effective communication of product changes to internal and external stakeholders; and
- Working with Actuarial Technology Solutions Unit to monitor current and new product performance.
- 10+ years P&C insurance industry combined experience in Underwriting & Product Management & Development.
- Extensive technical expertise with a wide variety of Professional and Management lines including Directors & Officers (D&O), Management Liability, Errors & Omissions (E&O) and Professional Liability
- Strong written, verbal, and presentation skills.
- Strong knowledge and experience with a variety of regulatory environments impacting company’s products.
- Demonstrated ability to lead cross functional teams, including members of Underwriting, Product, and IT, as needed, to develop business requirements to support new products.
- Ability to think and plan strategically and innovatively.
- Demonstrated ability to execute high-profile corporate initiatives.
- Ability to manage multiple projects at the same time.
- Experience with multiple distribution channels, including wholesale, retail, digital, and direct.
- Proven personal leadership skills with an ability to collaborate and maintain relationships throughout the company.
- Ability to attract, retain, and develop talent for the company.
- Bachelor’s degree or equivalent experience required. Industry designations such as AU, CPCU, RPLU, etc. are a plus.