Commercial Lines Product Manager

NJM Insurance Group

112d • $170,000 - $215,000

About The Position

The Commercial Lines Product Manager (formal NJM title: Manager, Product Management) oversees the development and success of the Commercial Package and Umbrella products by defining, building and implementing vision and strategy, conducting market research, and collaborating with cross-functional teams. This role will report to the Vice President, Product Management. This position is physically based in our West Trenton, New Jersey corporate office.

Requirements

• Bachelor's (Masters preferred) in Mathematics, Economics, Finance, Actuarial Science or related field of Study.
• CPCU designation preferred, Actuarial experience a plus.
• 15+ years in the Personal Lines P&C insurance industry, including a minimum of 5 years of Commercial Package and Umbrella product management experience.
• Workers’ Compensation and/or Commercial Automobile product management experience is a plus.
• Proven ability to assess market expansion opportunities across multiple states.
• Expertise in gathering competitive intelligence, conducting analysis, and providing insights on risk management, rates, and product recommendations.
• Strong analytical skills, both qualitative and quantitative.
• Demonstrated ability to analyze growth and profitability opportunities.
• Experience in leading, motivating, coaching, and developing staff.

Nice To Haves

• Actuarial experience
• Workers’ Compensation product management experience
• Commercial Automobile product management experience

Responsibilities

• Support the organization in driving responsible and profitable growth across the Commercial Package and Umbrella lines of business.
• Execute the development and communication of the product vision, strategy, and roadmap.
• Work effectively with cross-functional teams including, including Actuarial, Claims, Underwriting, Finance, Sales/Marketing, and Customer Service, to support state/product initiatives.
• Lead and develop a team of Actuarial and Business Insights Analysts.
• Assist in the annual planning process in collaboration with marketing, finance, and operations departments.
• Promote cross-functional collaboration and involve stakeholders in the decision-making process.
• Manage CAT exposures for assigned geographies within NJM’s corporate CAT strategy.
• Prepare and present rate changes and/or product recommendations, and business updates to the Executive Leadership Team (ELT) as needed.
• Proactively identify and evaluate new products and service concepts in collaboration with internal departments.
• Participate as a member of the business unit's leadership team, supporting the initiatives.

Benefits

• 401(k) with employer match up to 8% and additional service-based contributions
• Health, Dental, and Vision insurance
• Life and Disability coverage
• Generous PTO
• Paid Sick Leave
• Paid parental leave in addition to state-mandated leave
• Discretionary bonuses

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Bachelor's degree
• Number of Employees: 1,001-5,000 employees