PL Product Manager

Hanover Insurance Group•Worcester, MA

About The Position

Our Personal Lines department is looking to add a Product Manager to join our team. This is a full time, exempt role. The Product Manager PL leads the strategy, definition, and development of assigned personal lines products and product features to deliver innovative solutions that meet customer and agent needs. This role is responsible for market research, awareness of current and emerging risk exposures, product ideation and design, and continued product maintenance to ensure strong business results. This person will collaborate with other business units, understanding product fit and market demand, advise on implementation efforts, and take active steps to maximize utilization. The Product Manager works closely with the State Product team to ensure competitive positioning, regulatory compliance, and profitability. As part of this effort, the role ensures that assigned products and features are closely aligned to Hanover’s target customer and helps fulfill its north star mandate of positioning Hanover as the agents’ carrier of choice for preferred accounts.

Requirements

Bachelor’s degree desired; CPCU designation preferred.
7+ years of experience in product management or related roles within Personal Lines insurance.
Strong knowledge of policy forms, coverages, underwriting, and pricing.
Market awareness of competitive conditions and regulatory guidelines across the U.S.
Advanced analytical skills with ability to synthesize data into actionable insights.
Proficiency in Excel, PowerPoint, and Power BI; familiarity with project management tools.
Curiosity that leads to innovation and growth mindset

Responsibilities

Works closely with Product leadership to define and drive product strategy and roadmap for assigned products and features.
Lead research and analysis of new product ideas, emerging risks, and relevant market trends.
Develop and refine policy forms and coverage language to manage risk effectively.
Develop presentations for leadership related to new products, features, enhancements, and product performance including cost-benefit analysis and ROI projections.
Serve as project manager on pilot programs and phased deployments.
Coordinate with the Product Owner and serve as a subject matter expert and advisor on rollout strategies for new launches and enhancements to ensure timely and accurate system implementation.
Provide expert content for training and promotional materials in collaboration with Marketing for internal teams and external agents. Also leads or assists in training sessions as needed.
Track product performance post-launch and analyze KPIs such as close ratio, feature utilization, and other adoption metrics.
Collaborates with Pricing and Underwriting Strategy to ensure that products are both competitive and profitable.
Identify opportunities for improvement and implement refinements to maximize profitability and customer satisfaction.
Maintain competitor product comparisons and identify meaningful gaps, threats, and opportunities.
Remain informed of current and emerging exposures through dialogue with Claims, Underwriting, Field Teams, and keep track of current industry topics and news.
Manage vendor partnerships and performance metrics.
Ensure vendor solutions deliver measurable value and align with strategic objectives.
Ensure that vendor solutions operate as intended and are incorporated properly within Hanover’s technology systems.
Develop and maintain Power BI dashboards and/or queries for product performance reporting.
Conduct proactive data analysis to communicate trends and insights.
Design products and endorsements that meet consumer and agent needs through competitive research, surveys, and Field Team and agency discussions.
Analyze claims, competitor offerings, underwriting considerations, pricing, and emerging risks to inform product design.
Drive adoption strategies and optimize funnel metrics for new launches.
Provide product training and consultation to internal and external stakeholders.