Insurance Product Manager

Independence Pet Group•Chicago, IL

8d•Hybrid

About The Position

Independence Pet Group (IPG), a subsidiary of Independence Pet Holdings, is seeking an Insurance Product Manager to shape, develop, and optimize its pet insurance portfolio within an MGA environment. The role combines product strategy, market insight, insurance expertise, analytical work, and cross-functional leadership to deliver competitive, profitable, and compliant products across their full lifecycle. The Product Manager leads product strategy and development, conducts market and competitive research, partners with actuarial, underwriting, sales, marketing, distribution, finance, operations, and data teams, and serves as a subject matter expert for assigned products. The role also advances innovation in insurance and non-insurance offerings and supports regulatory compliance, strategic initiatives, and portfolio planning. The position is hybrid, with 2–3 days per week onsite in Chicago, Illinois, or New York, New York. The stated annual base pay range is $135,026–$168,784 in New York or $123,774–$154,718 in Chicago. Placement depends on job-related factors such as experience, skills, and certifications. The position is not eligible for an annual bonus.

Requirements

5+ years of experience in the insurance industry, ideally with exposure to pet insurance, personal lines, or MGA environments.
Demonstrated experience developing and managing insurance products, pricing strategies, and underwriting frameworks.
Strong understanding of insurance market dynamics, regulatory frameworks, and compliance processes.
Strong analytical ability to interpret data, identify trends, and support data-driven decision-making.
Ability to work independently, manage multiple priorities, and solve complex problems creatively.
Excellent communication and stakeholder management skills, with a collaborative approach across departments and seniority levels.
Proficiency in MS Office, particularly Excel and PowerPoint.

Nice To Haves

Bachelor’s degree preferred, ideally in Risk Management, Business, Economics, Finance, Mathematics, Statistics, or Actuarial Science.
SQL or data-querying skills.
Knowledge of pet insurance market trends, customer behaviors, and distribution models.

Responsibilities

Lead the strategic direction of the pet insurance product suite, aligning it with MGA objectives, carrier expectations, and market opportunities.
Develop and refine underwriting guidelines, appetite statements, rating algorithms, and product structures to support profitable growth.
Identify customer needs and emerging trends and turn insights into product enhancements and new product concepts.
Own the product lifecycle from ideation and feasibility assessment through development, launch, monitoring, and improvement.
Lead market research, competitive benchmarking, and customer segmentation to identify opportunities and inform product positioning.
Monitor competitors’ pricing, coverage features, distribution strategies, and customer experience, and translate market intelligence into recommendations.
Partner with actuarial teams on pricing strategies, risk models, and rating structures.
Work with underwriting to refine risk appetite, ensure operational consistency, and support decisions on complex or emerging risks.
Collaborate with sales, marketing, and distribution partners on go-to-market strategies, product messaging, and launch plans.
Support portfolio analysis and performance reviews with finance, operations, and data teams to identify trends, risks, and opportunities.
Serve as a subject matter expert for assigned pet insurance products and provide guidance to underwriting, claims, distribution, and customer service teams.
Deliver training, product education, and technical support to internal stakeholders and external partners.
Represent IPG in discussions with carriers, reinsurers, brokers, and regulatory bodies as needed.
Drive innovation in insurance and non-insurance offerings, including wellness packages, loyalty programs, digital tools, and customer engagement features.
Benchmark value-added services and explore emerging technologies such as tele-vet services, AI-driven claims tools, and pet wellness ecosystems.
Monitor regulatory developments, compliance requirements, and industry standards affecting pet insurance and MGA operations.
Ensure product materials, policy wordings, and rating structures meet regulatory and carrier requirements; support compliance reviews, audits, and documentation.
Support senior leadership with strategic initiatives, portfolio reviews, and business planning.
Perform additional duties as assigned to support the broader goals of the MGA.