Product Manager - Workers Compensation (Hybrid)
About The Position
As a product manager, you'll be accountable for the P&L of American Family Insurance enterprise Workers Compensation Product. You will support and manage insurance product performance in market by leveraging analysis, insights across a variety of internal and external sources to conduct root cause analysis. You will research solutions that inform recommended actions to improve profitability, growth and customer experience in support of annual profit and growth plans. You will create insights from intelligence about customer, market and competitors for problem solving and proactively monitoring trends in the market. You will deliver solutions that improve product using contract language, underwriting rules/guidelines, system/platform, automation, and use of pricing/predictive analytics. You will report to a senior manager, product.
Requirements
- Demonstrated experience providing customer-driven solutions, support, or service.
- Demonstrated experience developing insurance product/line of business strategies.
- Extensive knowledge of leveraging customer, market, and competitor intelligence.
- Extensive knowledge and experience with lean innovation, agile or other development/innovation approaches.
- Extensive knowledge of market research and marketplace and regulatory trends.
- Extensive knowledge and understanding of product design, pricing and product management.
- Solid knowledge and understanding of advanced financial and data analysis techniques.
- Demonstrated experience leading projects in product development and product management.
- Demonstrated experience with profit and loss accountability.
Nice To Haves
- Previous workers compensation experience in the insurance industry is strongly desired.
Responsibilities
- Oversee development of specific strategies related to price, product and underwriting.
- Execute and deliver product initiatives that lead to profitability and growth
- Collaborate with subject matter experts and other company leaders to implement changes that enhance the customer experience
- Research the competition to develop opportunity and threat assessments.
- Lead with a continuous improvement approach
- Develop and maintain strong technical expertise and knowledge within the product management team
- Oversee research and insights gathering and analysis including competitive intelligence, customer empathy, strong understanding of pricing models and analysis, and innovation methodology working closely with product development teams
- Ensure overall compliance and financial viability
- Identify and develop expansion strategy in partnership with appropriate distribution partners to increase exposure of product to appropriate new markets in partnership with product development team members
- Lead line analysis as needed as prioritized by line lead to inform line performance, strategy and line level initiatives
- Primary contact with Product Development within assigned LOB
- Develop Line Initiatives
- Own line product guides and UW guidelines
- Lead line CAT/CE analysis
- Develop Line Communications as directed from Sr. Manager - Product
- Complete analysis for line business reviews
- Complete line P&G initiative analysis
- Primary contact with claims for CMP line of business
- Primary contact with UW support teams for Work Comp
Benefits
- Comprehensive medical, dental, vision and wellbeing benefits
- Competitive 401(k) contribution
- Pension plan
- Annual incentive
- 9 paid holidays
- Paid time off program (23 days accrued annually for full-time employees)
- Student loan repayment program
- Paid-family leave
- Relocation support
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
No Education Listed
