Commercial Product Manager
Job Opportunity at bizjobz LLC

Posted on Jul 6

http://www.bizjobz.com    (212) 575-7278

Location: Woodland Hills, CA
Job Type: Full Time
Job ID: W4135263

The Company:

Our client is one the country’s largest insurers of vehicles, homes and small businesses and provides a wide range of other insurance and financial services products.  It serves more than 10 million households and more than 20 million individual policies across all 50 states through the efforts of over 50,000 exclusive and independent agents and nearly 24,000 employees.

The Position:  Commercial Product Manager

Job Summary:   
  • Responsible for top line growth and bottom line profit for the product they are accountable for in an assigned geographical territory or industry group.
  • Works with informational inputs from inside and outside the organization and business partners to create strategies and to direct the development of product pricing, underwriting and contract changes to achieve goals.
  • Approves underwriting guideline changes and additions including form and coverage changes in assigned states or industry groups.
  • Works with multiple business partners maintaining open lines of communication with the Agency Management, Claims and the Commercial Service Center organizations to obtain critical market and loss trend information.
  • Travels to meet with business partners which may include large groups of agents to communicate strategies.   
Essential Job Functions:   
  • Creates long and short-term growth and profit strategies in assigned states or industries that align with companywide strategies.
  • Reviews statistical analysis of data concerning loss patterns, market forces, agency management, etc. to evaluate the success of current strategies and tactics to either modify or create new ones.
  • Approves underwriting guideline changes and additions for assigned states or industry groups. Manages policy forms for assigned states or industry groups.
  • Approves changes to broaden or restrict coverage.
  • Responsible for ensuring changes are communicated to field services, operations, underwriting, marketing and system technology teams.
  • Participates in rate review process.
  • Leads rate review discussions with Zone Marketing Managers, State Executives and Commercial Wholesalers.
  • Coordinates rate reviews and changes with Actuarial.
  • Makes pricing decisions including a rate change implementation plan.
  • Assesses the impact on the in force book, new business production and agency force.
  • Manages the development and review of recommendations concerning new coverages and contracts or revisions to existing contracts and endorsements.
  • Evaluates the impact of product revisions on established operating standards including the effect proposed policies, procedures, and program changes have on profit and production prior to adoption.
  • Takes leadership role in special projects for assigned states or industry groups.
  • Directs development of product line introduction and provides input on the underwriting training and marketing materials in coordination with Home Office Marketing.
  • Aids the Underwriting Execution Office in Commercial Center audits measuring underwriting, documentation, decision-making quality and adherence to published procedures; the introduction of new and/or revised policies, procedures and programs; collaboration in the development, maintenance, and implementation of underwriting tools that reflect underwriting philosophy and strategy.
  • Conducts field travel to roll out new products and enhancements.
  • Meets with business partners which may include large groups of agents in order to communicate strategies.
  • Reports the results of assigned states and industry to senior management.
  • Performs other duties as assigned.   
Education Requirements:
  • Four-year college degree required
  • CPCU or MBA/Advanced Degree preferred.   
Experience Requirements:   
  • Seven years of Commercial Lines Underwriting and/or Product Management experience required.
  • Prior commercial management experience preferred.
  • Must be a US Citizen or Carry a Green Card   
Special Skill Requirement:  
  • Demonstrated successful performance as a commercial underwriting and or product manager with the ability to take on higher premium and policy counts if called upon.
Ideal Candidate:
  • Seven years of Commercial Lines Underwriting and/or Product Management experience required.
  • Prior commercial management experience preferred.
  • Four-year college degree required
  • CPCU or MBA/Advanced Degree preferred.
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