Farmers Insurance · 19 hours ago
Business Insurance State Product Director
United States
Full-time
Onsite
Mid, Senior Level
$147K/yr - $250K/yr
7+ years expFarmers Insurance is committed to delivering peace of mind to customers through innovative insurance solutions. The Business Insurance State Product Director manages product lines to ensure competitiveness and profitability, leading strategy development and execution while collaborating cross-functionally to deliver customer-focused products.
Auto InsuranceFinancial ServicesInsuranceLife Insurance
Responsibilities
Leads competitor analysis to inform product strategies. Evaluates models, rating variables, and market segments to recommend strategic adjustments that improve competitive positioning. Analyzes competitor earning reports, market positioning, and countrywide rating curves to guide product development and rate strategies. Leverages insights from market analysis, customer feedback, and benchmarking to drive product initiatives and pricing decisions
Accountable for achieving/exceeding profit and growth targets in assigned geography. Develops strategic vision and supporting roadmap that will profitably expand market share within assigned geography. Collaborates with cross-functional teams to design and implement product strategies and operating standards that facilitate profitable growth. Uses broad business knowledge to contribute to strategic planning for rating approaches, rating variables, and performance metrics. Optimizes rating structures by analyzing losses, coverage types, and industry trends. Performs advanced trend analyses such as retention analysis and new money trends to support product planning and inform decisions. Leads P&L driven projects to adjust rating factors, refine pricing models, and enhance profitability through targeted rating initiatives
Collaborates cross-functionally to evaluate and implement countrywide non-rate or underwriting actions. Leads processes to assess the impact of changes in policy terms and coverage options, analyzes their effectiveness, and recommends adjustments to enhance outcomes
Monitors performance and communicate product, pricing, underwriting philosophies, strategies, and financial results to internal/external partners, leadership, as well as team members. Tracks product performance metrics to identify trends, ensure compliance, and assess alignment with business objectives. Prepares reports for stakeholders and senior leadership. Maintains systems to monitor financial results, product outcomes, and post-project performance. Leverages data to deliver actionable insights and recommendations
Manages teams while being responsible for their performance and outcomes. Guides and supervises efforts of direct reports to execute product line strategies aligned with business objectives. Provides direction, feedback and performance management to foster team development and a high-performance culture. Performs other duties as assigned
Qualification
Required
Minimum seven years of experience required in product line management or similar role
Insurance industry experience required
High School Diploma or equivalent required
Bachelors degree required
Strong verbal communication and listening skills
Demonstrated written communication skills
Effective interpersonal skills. Able to interact effectively with business partners and stakeholders
Demonstrated analytical skills. Strong ability to analyze data and trends to make informed decisions and recommendations
Possesses strong product knowledge. In-depth knowledge of insurance products including commercial lines, property & casualty (P&C) lines, specialty lines, and other relevant types. Proficient with all stages of product lifecycle including ideation, development, launch, and post-launch evaluation. Demonstrated P&L management experience
Demonstrated project management skills
Effective leadership skills. Strong collaboration and team building skills. Proven ability to inspire and develop staff
Effectively coaches and delivers constructive feedback
Possesses strong technical aptitude. Proficient in Microsoft Office suite. Proficiency with product management tools, data analysis software, and reporting systems
Preferred
Experience in a people leader or management role preferred
Benefits
Bonus Opportunity (based on Company and Individual Performance)
401(k)
Medical
Dental
Vision
Health Savings and Flexible Spending Accounts
Life Insurance
Paid Time Off
Paid Parental Leave
Tuition Assistance
Company
Farmers Insurance
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.
10001+ employees
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)
Funding
Current Stage
Late StageLeadership Team
Jose Tamayo
Agency Owner
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