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Farmers Insurance · 3 hours ago

Head of Business Insurance Product Development

United States

Full-time

Remote

Director/Executive

$182K/yr - $250K/yr

10+ years exp

Farmers Insurance is dedicated to delivering peace of mind to customers through comprehensive protection and advice. The Head of Business Insurance Product Development is responsible for developing and executing strategies for profit and growth in Commercial lines, focusing on product innovation, performance monitoring, and collaboration with various teams.

Auto InsuranceFinancial ServicesInsuranceLife Insurance

H1B Sponsor Likely

Responsibilities

Accountable for strategic product development of casualty, CMP and property; aligning appetite and eligibility with product coverages, product structure, innovation, and execution through the platform

Monitors product performance by market and develops action plans to enable profitable growth

Accountable for development of product enhancements and new product offerings

Accountable for managing the agile process from the business perspective to build minimum viable products for agents and underwriters to sell

Accountable to monitor book and industry trends and make corrective changes as required to maintain growth and profit positions

Analyses product mix and design to gain a competitive advantage and drive product growth

Line of business expert on commercial auto, workers compensation, umbrella, CMP and Property product related inquiries

Defines sub-limits, early warning tests, and observation points for products major peril regions. Monitors the results and makes proposals to mitigate potential risk of breaching the limit to the Exposure Management Committee

Maintains the framework to manage risk exposure on gross of reinsurance basis

Coordinates exposure activities among the business units and functions

Resolves capacity disputes within Personal Lines and Business Insurance. Submits capacity disputes to the Exposure Management Committee for resolution if agreement cannot be reached

Develops and delivers change management efforts for the introduction of new or enhanced products. This includes training, communication, and field interaction

Accountable to ensure that products meet needs of customers (insured) and agents

Accountable to manage budget through expense control

Collaborates with sales, marketing, underwriting, service ops and Agile teams to develop, implement and introduce new or enhanced products. This includes training, communication and field interaction

Acts as project sponsor for innovation efforts related to business insurance CMP or Property product lines which include process and technology

Develop future leaders for Business Insurance and the organization. Accountable for staff development and training

Establish an environment that promotes teamwork, camaraderie and employee retention

Qualification

Business Insurance expertiseProduct developmentStrategic planningLeadership experienceRelationship managementCommunication skillsCritical thinkingPublic speakingNegotiation skillsCreativity

Required

Bachelors degree or equivalent experience required

5 years leadership experience with large operations

10 years Business Insurance industry experience preferably with underwriting and/or field management experience

Experience managing/developing a senior group of managers, underwriters and operations / service center personnel

Role requires a thorough comprehension of business insurance and its key disciplines and processes including insurance products, coverages, underwriting guidelines, servicing needs, etc

Must be skilled and knowledgeable in relationship management and communication with key business executives

Ability to effectively interact with all levels of Farmers internal and external business partners

Ability to deal with ambiguous situations and issues

Creativity in resolving unique and challenging business problems

Ability to achieve results by taking a proactive long-term view of business goals and objectives

Critical thinking skills are required

Ability to understand actuarial disciplines

Understanding of contracts

Excellent verbal and written communication skills

Ability to negotiate with field sales force and departments of insurance

Public speaking is required

Ability to develop strategic long terms plans and implement tactical moves to execute them

Preferred

Insurance education such as CPCU or related courses

Benefits

Medical

Dental

Vision

Health Savings and Flexible Spending Accounts

Life Insurance

Paid Time Off

Company

Farmers Insurance

Glassdoor3.2

The companies comprising the Farmers Insurance Group of Companies® currently make up one of the country's largest insurers of vehicles, homes and small businesses, and provide a wide range of other specialty insurance and financial services products.

Founded in 1928

Los Angeles, California, USA

10001+ employees

https://www.farmers.com

H1B Sponsorship

Farmers Insurance has a track record of offering H1B sponsorships. Please note that this does not guarantee sponsorship for this specific role. Below presents additional info for your reference. (Data Powered by US Department of Labor)

Distribution of Different Job Fields Receiving Sponsorship

Represents job field similar to this job

Trends of Total Sponsorships

2025 (105)

2024 (76)

2023 (86)

2022 (129)

2021 (106)

2020 (90)