The AVP Personal Lines Product will oversee product development, pricing strategy, profitability, and market growth for personal lines, managing teams, vendor relationships, and strategic initiatives to enhance business performance.
Manages a team of highly analytic and experienced individual analysts. Manages complex, large-scale, and highly specialized projects that impact product development, pricing strategy, profitability and growth of the Personal Lines business. Provides strategic and tactical direction for products. Evaluates business processes, recommends efficiencies and improvements and implements changes. Manages complex data gathering, reporting and analysis. Oversee Product Management Team that provides competitor analysis, filings, testing and analytics.
- Expected to make meaningful contribution to the overall business results of the personal lines of business in given states
- Has primary product management responsibilities for Home, Dwelling Fire, Auto and Umbrella product lines in all geographies
- Rate setting, forms and competitive position – research, analyze and make recommendations for final rate picks and product coverage’s. Leads filings and negotiates with Department of Insurance to gain approvals.
- Works with I/T to execute the filings – creates requirements, collaborates on implementation and tests outcomes.
- Oversight of strategy and evolution of rating algorithms for all products
- Monitors competitor filings and prepares monthly reports summarizing rate and form activity in the marketplace.
- Monitors trends in PL business including new business, quote and close rates, growth, profit, retention and profile of customer to identify needed changes.
- Regularly works with Claims to identify trends that impact profitability
- Responds to regulator inquiry with needed analysis and fact finding. Acts as SME for the rest of the organization to finalize our response.
- Creates a competitive advantage for Arbella in ease of doing business by monitoring marketplace trends and works with I/T to implement improvements.
- Partners with PL Underwriting on appetite, guidelines, desired customer profile, profit improvement activities and general underwriting direction. Provides PL Underwriting with needed reports to effectively manage agents and books of business.
- Works with independent and captive agents, marketing and other internal teams to devise effective product and ease of doing business improvements.
- Manages a team conducting all levels of product analysis under varying levels of supervision and direction.
- Provides support on the development of state strategies and through focusing analyst resources on value-added analysis. Includes comparative rater data, competitive filings, etc. Directs Product Analysts on competitive research activities.
- Direct reports include Product Manager and business analysts.
- Develops the teams skills and competencies
Requirements:
- Intimate working knowledge of the Personal Lines Property and Casualty insurance industry including pricing, product, underwriting practices and competitive analysis
- Intimate experience working with the DOL
- In depth experience developing, leading and managing a team of highly qualified analysts
- Experience working with technology teams to execute product, pricing and system changes
- Experience working in both MA and CT marketplaces a plus
- Independent Agency and Captive Agency experience a plus
- Bachelor's Degree plus 8 years experience with Personal Lines Product, Pricing and Underwriting Management. Master's Degree preferred.
- Excellent leadership, communication and relationship building skills.
Our current reasonable and good faith estimate of the annual base for this position is approximately $175,000 - $210,000 based on a variety of factors including, but not limited to, relevant skills and experience, educational background and certifications, performance and qualifications, market demand for the role and other organizational needs.
Please note: The advertised pay range is not a guarantee or promise of a specific wage.
#LI-CL1
Top Skills
Competitive Analysis
Data Analysis
Financial Planning
Insurance Pricing
Product Management
Project Management
Vendor Management
Arbella Insurance Group Quincy, Massachusetts, USA Office
1100 Crown Colony Drive, Quincy, MA, United States, 02269-9103
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