Insurance Product Development Specialist
About The Position
AmericanAg®, a global provider of diversified reinsurance solutions, is seeking a Property & Casualty Insurance Product Development Specialist to work out of our office in Schaumburg, Illinois. This is a hybrid position, with the expectation of working in the office a minimum of three days a week. Our Research & Product Development team studies emerging risks, analyzes market trends and products of our primary insurance carrier clients’ competitors, and translates those insights into practical, market-ready insurance solutions. A core component of this work is the development and maintenance of the coverage forms and endorsements that support the comprehensive, end-to-end products relied upon by our primary insurance carrier clients. This role is heavily focused on forms drafting, policy language development, and analyzing P&C insurance policy forms and endorsements. If you are an innovative thinker with experience developing policy language, coverage research, and drafting insurance forms, this role might be a good fit for your. We are looking for someone who enjoys solving complex coverage questions and collaborating across departments to turn research into actionable solutions.
Requirements
- Bachelor’s degree or equivalent experience
- 5+ years of experience drafting or revising P&C insurance forms, endorsements, or policy language
- Experience in forms drafting, including development of endorsements and coverage forms; familiarity with ISO forms and manuscript wording strongly preferred.
- Strong understanding of P&C insurance product development, coverage structures, and policy construction
- Excellent written and verbal communication skills, along with the ability to manage projects effectively across all levels at the company
- Strong research, analytical, and problem-solving skills and the ability to translate findings into clear, actionable recommendations
- Proficiency with Microsoft Office products, particularly Excel and PowerBI
Nice To Haves
- Professional designations such as CPCU or ARe preferred
Responsibilities
- Draft, revise, and maintain policy language, including coverage forms and endorsements, and developing manuscript language to address emerging risks to improve clarity, drive growth, and increase market competitiveness
- Analyze and compare competitor products, including comparison to ISO forms, manuscript endorsements, and policy language to identify coverage gaps and opportunities
- Collaborate with Underwriting, Actuarial, Claims, and Legal to ensure alignment of policy language, coverage intent, and regulatory compliance
- Conduct market research and competitor benchmarking to identify emerging trends, coverage gaps, new product opportunities, and product innovations
- Develop and prepare business use cases and product proposals for new offerings and enhancements
- Participate in underwriting file reviews of our primary insurance carrier clients to evaluate forms and endorsements and ensure alignment with treaty language
- Analyze datasets related to policy, claims, and customer demographics to generate insights that support product performance
- Build and maintain reports and dashboards to track key product KPIs (e.g., loss ratios, customer retention, and profitability)
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Number of Employees
11-50 employees
