Associate Insurance Product Manager

$64,000 - $185,000/Yr

Geico - Chevy Chase, MD

Full-time - Mid Level

Chevy Chase, MD

Insurance Carriers and Related Activities

About the position

The Associate Product Manager at GEICO will play a crucial role in driving the company's profitable growth by strategically analyzing market opportunities and risks. This position involves building product strategies, managing pricing decisions, and collaborating with various stakeholders to enhance customer experience. The role offers visibility to senior management and requires a strong understanding of the insurance industry, particularly in pricing and product management.

Responsibilities

• Build product strategy and drive pricing and non-pricing decisions leading to profitable growth.
• Manage state(s) to meet profitability targets and grow as fast as possible.
• Understand the assigned markets and develop specific strategies related to price, product, and underwriting.
• Utilize analytical problem-solving and leadership skills to execute and deliver product initiatives.
• Collaborate with subject matter experts and other company leaders to implement changes that enhance the customer experience.
• Research the competition to develop opportunity and threat assessments.
• Review and make recommendations on process and governance from a country-wide state management perspective.
• Direct end-to-end lifecycle of department and corporate initiatives.
• Advocate on behalf of the company with regulators and consultants and in legal and compliance matters.
• Manage rate filings through approval, reviewing and approving text for rate reviews, filings, and internal communications.
• Implement product changes effectively and in compliance with laws and regulations.

Requirements

• Prior experience in pricing and/or product analysis / product management with an understanding of basic product management concepts.
• Minimum of 5 years in P&C insurance industry with an understanding of the current environment.
• Working knowledge of insurance regulation and related business constraints.
• Capable of managing states with management oversight.
• Bachelor's degree with relevant academic background.
• Self-motivated, goal-oriented individual with curiosity.
• Demonstrated ability to exchange ideas and convey complex information clearly, both verbally and in writing.
• Strong analytical abilities with solid understanding of pricing techniques and insurance operations including underwriting.
• Good planning, organizational, decision-making, and communication skills.
• High level knowledge of data sources, tools, and modeling techniques.
• Ability to adapt to a fast-paced and changing environment and get work done through others.

Nice-to-haves

• Master's degree in business or related field.
• Other industry designations: FCAS, ACAS, or CPCU.

Benefits

• Premier Medical, Dental and Vision Insurance with no waiting period.
• Paid Vacation, Sick and Parental Leave.
• 401(k) Plan.
• Tuition Reimbursement.
• Paid Training and Licensures.