Overview

NJM's Commercial Lines Product Development Team has opening for a Product Manager.   This position coordinates the development of strategic product management plans, including the development of new products and enhancement to existing products. 

The Product Manager identifies, analyzes and evaluates potential areas for enhancement or new entry.  This role develops and manages an assigned product line to optimize profit and meet marketing, financial, and corporate growth objectives. 

Responsibilities

• Utilizes market research data to identify, analyze, and evaluate industries that are potential areas for enhancement or new entry.   
• Conceives, develops and implements Insurance schemes or products 
• Interfaces with the actuarial function for the design and pricing of products 
• Works closely with customer base to identify key needs, potential client base, and appropriate product solutions   
• Monitors product programs for effectiveness and leads to the development of recommendations to improve product performance in ways that align with enterprise strategies and objectives.   
• Develops formal presentations and briefs executive management on recommendations.  
• Serves as primary product contact for state-specific issues, and functions as product subject matter expert in developing state-specific rates, plans, and forecasts.  
• Develops and maintains a high level of understanding of economic conditions, regulatory issues, demographics, and competitor practices with respect to pricing, products, and marketing within an assigned territory.  
• Coordinates, facilitates, and directs regional product involvement in portfolio product issues. 

  
Skills, Knowledge, Experience, and Abilities:
Experience and knowledge in the following areas: Risk segmentation, commercial lines product and pricing, insurance marketing channels, and business analysis and program management. A candidate will need:  

• Strong industry knowledge, including commercial lines marketing, pricing, and product philosophies.
• Collaborative focus.  Comfortable taking initiative and being a self-starter. 
• Strong oral and written communication skills.
• Experience gathering business requirements and working collaboratively with Information Technology teams and Business teams. 
• Development of test plans and coordinating/performing User Acceptance Testing.  

Requirements

• Bachelor’s degree preferred, Advanced degree is preferred; insurance designations such as CPCU, ARM, etc.  are preferred 
• Minimum seven years  of experience in the P&C Insurance industry and/or the product development field; or equivalent combination of education and experience
• Strong analytical and quantitative skills required
• Track record of demonstrated creativity in pricing and/or product development
• Strong critical thinking and problem-solving skills
• Ability to review moderately complex issues and develop solutions
• Must have initiative and be a self-starter
• Must have strong interpersonal skills and be able to build commitment to decisions.
• Strong written and verbal communication skills required
• Requires the ability to effectively present recommendations and solutions to all levels within the organization in a clear manner