Product Manager I - PL

Farmers Insurance

2d•$85,800 - $163,125

About The Position

The Product Manager I supports Farmers’ rate-setting process, a key driver of business results, and leads support for large-scale processes and process improvements. The role is assigned to a team focused on specific markets or nationwide efforts to support profitable business growth. Assignments are generally smaller and less complex than those handled by more senior Product Managers and Product Directors. The position requires strong organization and time management, cross-functional collaboration, and the ability to solve structured and unstructured business problems. Work is performed independently with direction and guidance; the role may manage or coach analysts. The Product Manager I supports rate revisions, multi-state product initiatives, non-rate initiatives, compliance and regulatory projects, and product and underwriting documentation. The role coordinates execution across state teams and internal partners, develops regulatory expertise for an assigned market or product, and provides training and guidance to junior analysts. It also researches competitors, identifies opportunities for process improvement, and develops initial recommendations for leaders, business partners, and regulatory interactions. The position may be hybrid or remote. Employees living within 50 miles of a Farmers corporate office work at least three days in the office and up to two days virtually; applicants living farther away may also be considered. Work takes place in an indoor, climate-controlled office or approved virtual work location. Travel is rare, if any.

Requirements

High school diploma or equivalent required.
Minimum 7 years of U.S. property and casualty experience in product or underwriting, or related experience, preferred.
Demonstrated analytical and research skills.
Strong organizational skills and technical aptitude.
Experience with Excel required.
Effective interpersonal skills and ability to work collaboratively in teams and build networks.
Strong written and verbal communication skills.
Process improvement and lean-thinking capabilities.
Demonstrated mentorship and coaching skills.
Ability to work independently with direction and guidance.

Nice To Haves

Bachelor’s degree focused in Business or a research-related field such as Economics, Business Administration, Marketing, or Risk Management.
People leadership experience.
Continuous-learning mindset.

Responsibilities

Support the rate-setting process and large-scale business processes, and drive process improvements.
Support profitable growth for assigned markets or nationwide initiatives.
Understand rate calculation order and coach others in using rating tools to rate policies and investigate unexpected outcomes.
Navigate filing, IT programming, delivery and testing, compliance, underwriting, and regulatory processes to influence initiative timelines and sequencing.
Schedule and deploy rate revisions, multi-state product initiatives, and non-rate initiatives, aligning work across impacted states.
Support all stages of rate execution, filing, compliance, and regulatory projects.
Act as the business owner for compliance and regulatory requests and initiatives, and build regulatory expertise for the assigned market or product.
Influence and drive timelines and sequencing for complex rate and non-rate initiatives.
Maintain product and underwriting rules manuals and other documentation.
Coordinate communications and execution among state teams, actuarial, national product, underwriting, and distribution.
Research competitors’ product structures, underwriting rules, systems, and quoting platforms to support compliance and regulatory changes.
Train, onboard, support, and guide junior analysts; provide guidance and escalation support for complex or high-impact product issues.
Present information and develop initial recommendations for leaders and business partners on proposed product or underwriting rule changes.
Develop support and initial recommendations for interactions and negotiations with departments of insurance and other regulatory entities.
Build relationships with key internal business partners.
Identify opportunities to optimize product changes, project implementation, and underwriting guideline updates.