Product Mgr, Product Development - Business Auto, CMP, or Worker's Compensation

Farmers Insurance Careers

2d•$108,375 - $205,750•Hybrid

About The Position

This position drives the development and enhancement of insurance products to meet market demands and support business growth. This position will lead product development for any of our three major lines of business, Business Auto, Commercial Multi-Peril, or Worker’s Compensation. This role will lead the product portfolio through a major policy administration platform transformation, ensuring seamless migration, alignment with business objectives, and optimization of product delivery capabilities. The position identifies product innovation opportunities and ensures products adhere to regulatory requirements and underwriting guidelines. It collaborates cross-functionally to develop competitive, compliant, and customer-focused insurance products. The position may supervise direct reports who are individual contributors or people leaders to ensure alignment with product development goals and successful delivery of business unit priorities.

Requirements

5+ years of experience in product development or similar role.
High School Diploma or equivalent required.
Strong verbal communication and listening skills.
Demonstrated written communication skills.
Effective interpersonal skills.
Able to interact effectively with business partners and stakeholders.
Demonstrated analytical skills.
Strong critical thinking skills.
Effective leadership skills.
Demonstrated collaboration skills.
Effectively coaches and delivers constructive feedback.
Demonstrated project management skills.
Possesses strong product knowledge.
Working knowledge of insurance products including commercial lines, property & casualty (P& C) lines, specialty lines, and other relevant types.
Familiar with all stages of product lifecycle including ideation, development, launch, and post-launch evaluation.
Demonstrated P&L management experience.
Possesses strong technical aptitude.
Proficient in Microsoft Office suite.

Nice To Haves

Experience in a people leader or management role preferred.
Commercial Insurance experience in any of our 3 major lines of business preferred.
Bachelors degree preferred.
Working knowledge of SaaS, SQL preferred.

Responsibilities

Manages one or more product development initiatives from planning to execution to ensure timely and successful project delivery.
Own and drive the end-to-end platform transition strategy for assigned products.
Communicates product goals, encourages collaboration, sets clear expectations, facilitates decisions, gathers feedback, monitors progress, and addresses issues.
Works closely with cross-functional teams to drive product development while adhering to established best practices and standards.
Develops and executes market-specific strategies to optimize product effectiveness.
Collaborates to refine product strategies to meet business and profitability objectives.
Reviews coverage structures and product forms to align with market needs and risk management practices.
Manages customer experience journeys by tailoring products to meet customer needs and simplifying interactions across touchpoints and platforms.
Works closely with cross-functional partners to implement improvements that enhance customer experience.
Aligns stakeholders for complex projects and new product rollouts.
Conducts competitor analysis with a focus on eligibility criteria and risk appetite to compare product features and identify market gaps.
Uses insights to recommend product enhancements that improve competitive positioning and address market demand.
Performs product research to identify coverage gaps, new opportunities, and potential enhancements within assigned products or coverage segments.
Analyzes trends to develop proactive strategies that capitalize on market changes.
Communicates with regulatory authorities to address complex insurance product matters and ensure compliance.
Ensures timely resolution in line with state and national regulations.
Monitors and executes changes in laws and regulations to ensure products remain compliant.
Supports development and delivery of product training for internal and external partners, including agents and brokers.
Reviews training effectiveness and recommends improvements to enhance learner understanding of product features and underwriting guidelines.
Collaborates with underwriting and risk management to develop and refine underwriting guidelines, eligibility criteria, and product appetite that align with overall product strategy and market needs.
Ensures these guidelines support business objectives while managing risk and maintaining regulatory compliance.
Collaborates with IT and operations teams to contribute to platform development that improves product delivery and operational efficiency while ensuring system capabilities support product goals.
Reviews and creates policy forms in collaboration with forms teams to ensure compliance with regulatory requirements and product objectives.
Ensures documentation is accurate, consistent, and reflective of product intent.
Works closely with marketing teams to create marketing materials that accurately represent products and support go-to-market strategies.
Provides product information, reviews drafts, participates in go-to-market strategy meetings and assists in analyzing market feedback.
Supervises the daily activities of direct reports to ensure task completion and alignment with business unit priorities.
Provides instructions, delivers regular feedback, and manages performance to support professional and team development.
Performs other duties as assigned.