Commercial Lines Product Manager

NJM Insurance Group

2d • $170,000 - $215,000 • Onsite

About The Position

General Summary: 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. Essential Duties and Responsibilities: Essential functions of this job are listed below in order of priority. Reasonable accommodations may be made to enable individuals to perform the essential duties. • 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, 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. Required Qualifications: Knowledge, skills & abilities, experience, education, certification and/or license requirements. Regular and predictable attendance is an essential function of the job. Legal Disclaimer: NJM is proud to be an equal opportunity employer. We are committed to attracting, retaining and promoting a diverse and inclusive workforce that is fully representative of the diversity that exists in the communities in which we do business. NJM reserves the right at any time to amend, add or delete any aspect of the job description for this position based on business needs Compensation Information: The salary is commensurate with experience and credentials but is likely to fall in the $170,000 to $215,000 range. Compensation: Salary is commensurate with experience and credentials. Eligible full-time employees receive a competitive Total Rewards package, including but not limited to a 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, and paid parental leave in addition to state-mandated leave. Employees may also be eligible for discretionary bonuses. Legal Disclaimer: NJM is proud to be an equal opportunity employer. We are committed to attracting, retaining and promoting a diverse and inclusive workforce that is fully representative of the diversity that exists in the communities in which we do business. What Makes NJM Different? The NJM team comprises talented people who do the right thing by our policyholders and each other. You’ll be part of a financially strong and stable company that has flourished on relationships, integrity, and service for more than a century. NJM is a special place where you can propel your career, help others, and make friends—all at the same time. NJM is proud to offer our employees continuous learning options, outstanding benefits, access to wellness programs, and opportunities to give back to the communities we are privileged to serve. We have been named a Forbes America’s Best-in-State Employer for five consecutive years. Come join us! It’s time for you to make a difference on our remarkable team.

Requirements

• Regular and predictable attendance is an essential function of the job.
• Bachelor's (Masters preferred) in Mathematics, Economics, Finance, Actuarial Science or related field of Study.
• 15+ years in the Commercial Lines P&C insurance industry, including a minimum of 5 years of Commercial Package and Umbrella product management experience.
• 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

• CPCU designation preferred, Actuarial experience a plus.
• Workers’ Compensation and/or Commercial Automobile product management experience is a plus.

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, 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

• Eligible full-time employees receive a competitive Total Rewards package, including but not limited to a 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, and paid parental leave in addition to state-mandated leave.
• Employees may also be eligible for discretionary bonuses.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 1,001-5,000 employees