Product Manager

Independence, OH

Bristol West Insurance Group

This position is responsible for leading the effort to create, design, and price products for non-standard auto insurance for assigned states, as well as working with others in the organization and implementing products to meet growth and profitability targets.  

RESPONSIBILITIES & OBJECTIVES

·         Develop state strategies for the Company.

·         Maintain expert-level knowledge of state market, regulatory environment, legal environment, coverages, forms, and underwriting.

·         Create products targeted to desired customer segments, groups, or markets.

·         Lead the decision-making process for evaluation of new ideas and pricing positions.

·         Complete analysis of competitor pricing, product features, and service levels.

·         Manage the analysis of business including customer profiles and characteristics.

·         Provide product training throughout the organization.

·         Continually monitor competitors and industry trends to successfully compete in the market.

·         Define and develop target markets and work with Marketing to implement.

·         Work with Underwriting and processing to ensure compliance with guides and to monitor business.

·         Interact with Actuarial and Claims departments to understand results and incorporate changes in pricing and product models.

·         Maintain knowledge of insurance sales process and associated tools used by agents and Company personnel to complete the sales transaction.

·         Perform other duties as assigned.

PREREQUISITES

Education

·         MBA or other advanced qualification preferred.

Experience & Skills

·         5-10 years experience in the insurance industry, with a minimum of 3 years in a pricing/product development role.

·         Knowledge of insurance company operations including processing, Underwriting, Claims, Finance, Actuarial, Marketing, and Systems.

·         Strong analytical and quantitative skills.  Must be demonstrated through college course work, prior work experience, or insurance industry study.

·           Experience in pricing, product development, competitive analysis and marketing.

·           Track record demonstrating creativity in pricing or product development.

·           Non-standard auto experience is a plus.

·           Strong critical thinking and problem solving skills.

·           Ability to review complex issues and develop solutions.

·           Flexibility to balance all sides in an issue before making a decision.

·           Creative, innovative, fresh approaches to work.

·           Must possess initiative and ability to be self-starter.

·           Ability to make decisions using input from all members of the team.

·           Must work well with others and be able to build commitment to decisions.

·           Good working knowledge of Microsoft Excel and Access.

·           Excellent verbal and written communication skills and the ability to present ideas in a clear

              manner to various groups.