Business Insurance State Product Manager

Farmers Insurance

7d•$108,375 - $205,750•Hybrid

About The Position

This position drives the development and execution of state-level strategies for designated products within a business unit. It executes state-specific rate and product strategies aligned with leadership’s operational and profitability goals, using competitor activity, market conditions, and customer insights to guide rate recommendations and product adjustments. The role collaborates across functions to deliver competitive, compliant, customer-focused insurance products and develops short- and long-term strategies to meet market demands and business objectives. It may supervise individual contributors or people leaders. The position is accountable for profit and growth targets in its assigned geography and develops a strategic vision and roadmap to expand market share profitably. It conducts competitor and data analysis, recommends state-specific rates, coordinates annual rate planning, monitors implemented changes, and works with Departments of Insurance on moderately complex filings and revisions. It supervises direct reports, provides instructions and feedback, and manages performance. First-year priorities include executing rate, product, and underwriting initiatives and building and communicating a strategic roadmap for Nevada, Arizona, and Utah. The job is performed in person at a Farmers office or virtually at an approved alternative work location. The work environment is indoors and climate-controlled. Jobs in this category require rare, if any, travel.

Requirements

High school diploma or equivalent required.
Minimum five years of experience in product management, pricing, or a related field.
Strong verbal communication and listening skills.
Demonstrated written communication skills.
Effective interpersonal skills and ability to work effectively with business partners and stakeholders.
Demonstrated analytical skills and ability to analyze data and trends to make informed decisions and recommendations.
Strong product knowledge.
Working knowledge of insurance products, including commercial lines, property and casualty lines, specialty lines, and other relevant types.
Demonstrated P&L management experience.
Strong technical aptitude.
Proficiency in the Microsoft Office suite.
Ability to coach effectively and deliver constructive feedback.
Effective leadership and collaboration skills.

Nice To Haves

Bachelor’s degree preferred.
Experience in state-level product management preferred.
Experience in a people-leader or management role preferred.
Insurance industry experience preferred.
Familiarity with product management tools, data analysis software, and reporting systems.
Working knowledge of SaaS and SQL preferred.

Responsibilities

Achieve or exceed profit and growth targets in the assigned geography.
Develop a strategic vision and supporting roadmap to profitably expand market share in the assigned geography.
Analyze competitor activity, including state-level rate trends and market entries and exits, to identify opportunities for competitive rate adjustments.
Use market and customer insights to recommend state-specific rate strategies that improve market position and support profitability goals.
Monitor performance after rate and product changes are implemented.
Analyze data to identify trends and recommend ongoing improvements.
Coordinate annual rate planning with underwriting, distribution, and other internal partners to determine rate levels and product updates.
Ensure rate decisions reflect state-specific considerations and strategic plans.
Run the dislocation tool to determine rate recommendations.
Communicate with Departments of Insurance about moderately complex state rate filings and revisions.
Prepare and submit required filing documentation, address inquiries, and respond to DOI feedback in a timely manner.
Work with internal partners to incorporate DOI-required adjustments and maintain compliance with state regulations during rate revisions.
Escalate complex cases to senior team members.
Supervise the daily activities of direct reports and ensure work aligns with business-unit priorities.
Provide instructions and regular feedback, and manage performance to support individual and team development.
Drive rate, product, and underwriting initiatives through stakeholder management, data-driven decision-making, and post-implementation monitoring.
Build and communicate a strategic roadmap for Nevada, Arizona, and Utah, aligning cross-functional teams around profit, growth, and market-share objectives.
Perform other duties as assigned.