Insurance Product Manager - Expert

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 strategic product ownership, market insight, and cross-functional leadership to deliver competitive, profitable, and compliant products. It requires analytical capability, insurance expertise, and the ability to translate market needs into commercially successful solutions throughout the product lifecycle. The position is hybrid, with 2–3 days per week onsite in Chicago, Illinois, or New York, New York. The Product Manager leads product strategy and development, market and competitive research, collaboration across actuarial, underwriting, sales, marketing, distribution, finance, operations, and data teams, and product expertise and stakeholder engagement. The role also advances value-added solutions and innovation, oversees regulatory and compliance considerations, and supports senior leadership with strategic initiatives, portfolio reviews, and business planning. The position requires a bachelor’s degree preferred in a relevant field and substantial insurance pricing, underwriting, or product-performance experience. Compensation varies by location: $184,668–$230,836 per year in New York and $169,279–$211,599 per year in Chicago. Placement depends on job-related factors, and the position is eligible for an annual bonus. The total rewards package includes benefits such as healthcare, parental leave, and career advancement opportunities.

Requirements

Bachelor’s degree preferred, ideally in Risk Management, Business, Economics, Finance, Mathematics, Statistics, or Actuarial Science.
12 or more years of experience in insurance pricing, underwriting, and/or product performance; the posting specifies 8 or more years with a master’s degree or 5 or more years with a PhD.
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 decisions.
Ability to collect, analyze, and synthesize data to inform product decisions.
Ability to communicate complex ideas and analyses effectively to internal audiences.
Ability to work independently, manage multiple priorities, solve complex problems, and adapt to a fast-paced, changing environment.
Strong communication and stakeholder-management skills, with a collaborative approach across departments and seniority levels.
Proficiency in Microsoft Office, particularly Excel and PowerPoint.

Nice To Haves

Three or more years of State Product Management experience preferred.
Leadership experience preferred.
SQL or data-querying skills preferred but not required.
Knowledge of pet insurance market trends, customer behaviors, and distribution models is a strong advantage.

Responsibilities

Lead the strategic direction of the pet insurance product suite in alignment 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 unmet customer needs and emerging market trends, translating 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 competitor pricing, coverage features, distribution strategies, and customer experience, and recommend product, pricing, and strategic changes.
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 launches.
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 advise 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 for the product roadmap.
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.