Product Development Manager

Berkley•Glen Allen, VA

1d•Hybrid

About The Position

At Verus Specialty Insurance, a proud member of the esteemed W.R. Berkley Corporation (NYSE: WRB), we stand as a leading Excess and Surplus Lines provider delivering comprehensive solutions across the United States. Backed by the formidable strength of a Fortune 500 titan and operating with the agility of a nimble startup, we blend the best of both worlds to foster innovation and excellence in everything we do. Our nationwide operations are supported by a robust network of select wholesale producers, ensuring that our reach and capabilities are always close at hand. We are driven by a forward-thinking leadership that champions a dynamic culture where questioning the norm is not just welcomed but expected. This ethos empowers our team to consistently surpass customer expectations and drive the industry forward. At Verus, we are more than just a company; we are a community that thrives on collaboration, growth, and taking ownership of our actions. We are constantly on the lookout for exceptional talent who are eager to contribute, innovate, and grow with us. If you are passionate about making a mark in the insurance industry and align with our vision, we eagerly await your application. Join us and be a part of a team where your contributions are valued, and your potential fully realized! The Company is an equal employment opportunity employer. https://www.verusins.com/ The Product Development Manager partners closely with the Chief Underwriting Officer, Executive Team and Product Line Leaders to lead the development and refinement of insurance products in response to evolving market demands. This role oversees product strategy and execution across multiple lines of business, including General Liability, Excess/Umbrella, Professional Lines, and Garage. As a leader in product innovation, the Product Development Manager is responsible for managing the end-to-end development of new products and enhancements to existing offerings. Operating within an Excess & Surplus Lines environment, the Manager works with both ISO-based and proprietary forms to ensure products are competitive, compliant, and aligned with company goals. This role also contributes to market positioning by identifying opportunities for new products and target segments. Key responsibilities include defining product vision, leading cross-functional development teams, and overseeing project execution to ensure timely and successful product delivery. The Manager ensures product designs meet jurisdictional compliance requirements and provides strategic guidance and technical support throughout the product lifecycle. delivery.

Requirements

Bachelor’s degree or equivalent work experience required; active participation in insurance industry education and professional designations (e.g., CPCU, RPLU, ARM) is a plus.
10+ years of experience in the Property & Casualty (P&C) insurance industry, with a strong background in product development.
Exceptional communication skills, both verbal and written, with the ability to present ideas clearly and collaborate effectively across teams.
Strong interpersonal and teamwork skills, with a demonstrated ability to listen actively and contribute meaningfully in group settings.
Proficiency with business and productivity tools, including Microsoft Word, Excel, PowerPoint, and Adobe Acrobat; with familiarity with policy administration systems and form management platforms is preferred.
Familiarity with ISO rating plans and insurance product structures; experience with ISO-based forms is a plus.
Customer-focused mindset, with a proactive approach and a strong sense of urgency in delivering results.
Highly detail-oriented, with strong analytical, problem-solving, and decision-making abilities.
Proven ability to manage multiple priorities and adapt to shifting deadlines, including recognizing when to escalate issues appropriately.
Organized, flexible, and self-motivated, with a proactive approach to managing tasks and driving initiatives forward.
Knowledge of state filing requirements across multiple jurisdictions is preferred.
Willingness to travel, including air travel, for industry conferences and internal team sessions.

Nice To Haves

active participation in insurance industry education and professional designations (e.g., CPCU, RPLU, ARM)
familiarity with policy administration systems and form management platforms
experience with ISO-based forms
Knowledge of state filing requirements across multiple jurisdictions

Responsibilities

Design policy and endorsement language while contributing to the formulation of underwriting rules that drive consistent and accurate policy issuance and pricing.
Maintain and regularly update policy forms, product user guides, and supporting documentation, including conducting a comprehensive annual review to ensure accuracy, compliance, and relevance across all materials.
Evaluate insurance products to promote consistent underwriting practices and maintain compliance.
Draft tailored (manuscript) and standardized endorsements to address specific coverage needs and ensure product flexibility.
Monitor and analyze laws, regulations, case law, and ISO circulars to assess their impact on insurance products, underwriting practices, and internal procedures, ensuring timely updates and compliance across all jurisdictions
Develop policy language and underwriting rules for major program updates that enhance product offerings and deliver added value to clients.
Collaborate with Corporate Underwriting, Executive Team and Product Line Leaders to research and evaluate new product opportunities, assess their impact on existing offerings, and coordinate cross-functional efforts to bring new products to market.
Contribute to strategic discussions and planning sessions related to product improvements and new product initiatives.
Support the CUO in identifying and addressing emerging risks by conducting research and providing well-informed responses to underwriting inquiries across a broad range of insurance topics.
Collaborate with cross-functional stakeholders—including Legal, Claims, Actuarial, Underwriting, Compliance, and Marketing—to ensure insurance products align with internal standards and meet all applicable state regulatory requirements.
Work closely with IT teams, including system administrators, to ensure accurate representation of products in the forms library and policy issuance systems, and to coordinate timely implementation of product updates
Upload and maintain policy forms and endorsements within internal systems, ensuring accuracy and proper system integration.
Configure and oversee form attachment rules within internal systems to ensure accurate form selection based on underwriting parameters and jurisdictional requirements.
While Verus primarily operates as an Excess & Surplus (E&S) lines carrier, we may offer select products on an admitted basis. For these admitted products, the Product Development Analyst will support Product Line Leaders with regulatory filings, respond to filing objections in a timely manner, and contribute to overall product strategy and positioning.