Director, Product Development

PURE Insurance • Chicago, IL

1d • $140,000 - $155,000

About The Position

The Director of Product Development role will lead a wide range of key initiatives that drive strategic insurance product innovation and development for the personal Property products. This important leadership role will focus on creating, enhancing and maintaining the Property lines of business and product features that meets evolving member needs, expands profitable growth, and ensures continued market relevance.

Requirements

• 10+ years relevant work experience in P&C insurance product management required with demonstrated increased responsibilities over time.
• Bachelor’s degree required, ideally in an analytical field of study such as Economics, Finance, Actuarial Science, Math, Statistics or Risk Management
• Deep knowledge of the P&C insurance industry, competitors, insurance product pricing, financial drivers of profitability; comprehensive understanding of legislative and insurance regulation
• Extensive understanding of product, underwriting and distribution and how each impacts the other.
• Exceptional ability to analyze data and dashboards to draw useful insights and develop strategies and recommendations.
• Superior critical and analytical thinking, quantitative and problem-solving skills with the ability to make and influence data-based decisions
• Established experience leading teams and important initiatives through a consultative leadership style and growth mindset
• Outstanding oral and written communication skills with a proven ability to engage and inspire various audiences, while establishing executive presence
• Highest Level of integrity and honesty

Nice To Haves

• High net worth personal lines insurance experience preferred, but not required

Responsibilities

• Lead the product development for all assigned products, leveraging deep expertise of the insurance business and product, that influence decisions across the organization
• Leads teams in understanding the link between PURE’s vision and strategies and department initiatives through a product development lens to ensure progress towards company objectives
• Ideate, design and implement new or enhanced products with complex product features.
• Contribute to the consistent iteration of long-term product roadmaps for assigned products, with an appropriate cadence of updates to pricing, contract, selection and all other product features
• Manage the identification, exploration, and nurturing of new and existing strategic partnerships to offer a more robust suite of products
• Conduct internal and external research to identify emerging trends, member needs and review competitor offerings to inform product innovation
• Drive cross-functional collaboration with Underwriting, Claims, Marketing, Sales and all other stakeholders to successfully and efficiently design and develop enhancements to the product suite
• Build strong relationships with Technology to define detailed system requirements and collaborate continuously throughout the build to ensure new and revised product builds, features and tools are delivered as designed with high level of quality
• Proactively consider the comprehensive member and broker experiences for any touchpoint in the design of a given product and support processes to continuously improve these experiences
• Collaborate with the Actuarial Pricing, Data & Analytics, and State Product Management departments to develop different models using internal and external data to inform product pricing and risk selection decisions
• Identify, explore, and support the pursuit of external data sources that could provide value to our products
• Develop and manage the work of analysts that report directly to them (if applicable)
• Mentor and be a thought leader for managers and analysts across our Product teams
• Act as a subject matter expert on committees/external panels/forums/rate hearings

Benefits

• Opportunities to stretch and grow: your professional and personal development matters to us. We’re committed to providing experiences through on-the-job learning and professional development that increase your impact and rewards.
• Clarity and kindness: you can rely on us to be open, honest and supportive, offering clarity on what success looks like.
• Support in good times and bad: we believe in showing up for each other consistently, not only when it’s easy. You can expect a thoughtful partner, even when we disagree.
• A community that cares: we are committed to sustaining a community in which each person feels cared for as an individual. We lift each other up, celebrate wins together and support one another through challenges in work and life.

What This Job Offers

• Job Type: Full-time
• Career Level: Director