Commercial Lines Product Manager
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. 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.
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.
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What This Job Offers
Job Type
Full-time
Career Level
Manager
Number of Employees
1,001-5,000 employees
