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Creates product strategies with the assistance of more senior product managers for assigned geographical territory or industry group.
Works with informational inputs coming from inside and outside of the organization and business partners to create strategies and to direct the development of product pricing, underwriting and contract changes to achieve goals.
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
Assists in the creation of long and short-term growth and profit strategies in the 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.
Recommends decisions concerning underwriting guideline changes and additions to assigned states or industry groups.
Responsible for ensuring all changes are communicated to field services, operations, underwriting, marketing and system technology teams.
Recommends changes to broaden or restrict coverage.
Responsible for ensuring all changes are communicated to operations, underwriting, marketing and system technology teams.
Participates in rate review process with Zone Marketing Managers.
Heads of Territory and other territory leadership.
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 coverage’s 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. Provides input on the development of product line introduction, underwriting training and marketing materials in coordination with Home Office Marketing.
Aids the Underwriting Execution Office in 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.
Reports the results of assigned states and industry to senior management.
Performs other duties as assigned.
Prepare regulatory filings and other required documentation.
Required job duties include sedentary work as well as some or all of the following physical activities; lifting and/or carrying 40-lbs (suitcases, projectors, handouts, laptop computer, etc.), seeing, speaking, hearing, and occasional operation of a motor vehicle.
Required job duties are normally performed in a climate controlled office environment with occasional job duties performed in company car, airplane, hotels and various physical sites dictated by travel that are not always in a climate controlled environment.
Four-year college degree required, CPCU or MBA/Advanced Degree preferred.
Three years of Commercial Lines Underwriting and/or Product Management experience required. Prior management experience preferred.
Special Skill Requirement
Demonstrated successful performance in commercial underwriting with the ability to take on higher premium and policy counts if called upon.
Technical expertise in commercial risk selection and pricing, knowledge of management information and business systems (Word, Excel, PowerPoint, Access).
Ability to read and interpret policy contract language.
Excellent verbal, written and interpersonal skills, with demonstrated presentation skills.
Analytical thinking skills to make timely, appropriate decisions and recommendations after reviewing all relevant information.
Ability to successfully interact with the agency force to grow business while at the same time maintaining underwriting discipline.
Working broad-based knowledge of: relevant insurance laws/statutes and insurance contract language, the contract issue process, computer systems, competitor’s products and marketing practices.
Understanding of Commercial Lines product offering.
Knowledge of SAS, SQL, or VBA skills preferred but not required.
Company is an equal opportunity employer, committed to the strength of a diverse workforce.
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