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IAT Insurance Group · 3 days ago

Insurance Senior Product Manager (Property & Inland Marine Coverages)

Naperville, IL

Full-time

Hybrid

Senior Level, Lead/Staff

$73K/yr - $158K/yr

8+ years exp

IAT Insurance Group is the largest private, family-owned property and casualty insurer in the U.S. and they are seeking an Insurance Senior Product Manager focusing on Property & Inland Marine Coverages. This role is responsible for maintaining product currency, developing and implementing new products, and ensuring the profitability and growth of assigned lines of business.

CommercialFinanceFinancial ServicesInsuranceInsurTech

Comp. & Benefits

No H1B

Hiring Manager

John Gard

Responsibilities

Work closely with underwriting business leaders to keep their product suite current

Develop and deliver training to underwriters and underwriter trainees as needed

Assist in the review of key CAT exposures (Hurricane, Convective Storm, Wild Fire, Flood & Quake, etc.). Help to maintain appropriate CAT pricing and concentration of risk

Work to maintain/improve rates

Work to review and improve coverage parts and endorsements for Property & Inland Marine lines of business

Work with Compliance to ensure all rates, rules, and forms are up to date and filed with the State Insurance department where required

Evaluate Insurance Services Office, Inc. (“ISO”) changes, asses any impact to supported businesses and communicate that impact to the appropriate areas of the organization

Collaborate with appropriate business leaders to define strategy in response to ISO changes, state law changes and case law that may affect coverage

Work closely with Legal to review and discuss drafted revisions of coverage parts and endorsements. Relay revisions, including reasons for such revisions, to the applicable business unit

Work collaboratively with IT and Regulatory to effectively implement agreed upon changes

Maintain and improve the forms library, underwriting guidelines, and rating manuals for use by business units

Understand drivers of line performance/profitability, including any necessary underwriting strategy changes based on performance

Collaborate with Claim leaders to understand claim issues and trends

Collaborate with Actuarial on base rate needs by line of business. Lead the coordination of the base rate management decision-making process across the organization

Collaborate with business units on an appropriate strategy based on the profitability of the line

Utilize industry services such as A.M Best, Conning, etc. to monitor industry dynamics and trends

Perform other duties as needed

Qualification

Commercial product managementProperty product developmentInsurance policy knowledgeActuarial conceptsAnalytical skillsForm drafting skillsProject managementCross-functional influenceCPCU certificationARM certificationAU certificationVerbal communicationWritten communicationPresentation skillsProblem-solving

Required

Bachelor's degree and at least eight years of commercial product management or equivalent experience

Equivalent is defined as a minimum of 12 years of commercial product experience

Possess 3 to 5 years of Commercial Property product development or management experience or 3-5 years of Property underwriting experience to include CAT management

Strong knowledge of insurance policy contract structures

Strong knowledge of actuarial concepts and pricing approaches

Strong analytical skills

Solid form drafting skills

Good project management skills

Good verbal and written communication skills

Good presentation skills

Ability to influence cross-functional teams without formal authority

Ability to problem-solve and make recommendations

To qualify, all applicants must be authorized to work in the United States and must not require, now or in the future, VISA sponsorship for employment purposes