Product Supervisor (Hybrid)

NYCM Insurance•Edmeston, NY

2d•Hybrid

About The Position

The Product Supervisor (Commercial) (Hybrid) will assist with oversight and management of an NYCM Insurance product line including product development, pricing, placement, and promotion. Manage product related projects, initiatives, guidelines, and procedures to meet the strategic business unit’s development objectives and profitability goals. In-depth awareness of the competitive landscape, market penetration, pricing, insurance exposure development trends, macroeconomic and business-related costs that impact the profitability of the product. Engage various stakeholders across the organization as well as internal and external actuarial consultants and vendors to identify opportunity, refine product frameworks, provide innovative opportunities and solutions, internally promote the product, develop and communicate action plans, and make informed sound recommendations based on their business analyses.

Requirements

High school diploma or equivalent, with related experience demonstrating the knowledge , skills and abilities necessary to perform the essential functions of the position.
Ability to effectively communicate with agents, regulators, agency groups, partner departments, and to senior leadership in the organization.
Technical insurance pricing expertise, with the ability to make effective business decision incorporating multiple viewpoints.
Good understanding of complex, data intensive and highly scalable decision support applications.
Strong knowledge of business processes and analytical support systems.
Strong computer skills including MS Office with demonstrated skills in Power Point and Excel including the ability to create, manipulate and formulate spreadsheets.
Self-starter, ability to work well both individually and as part of a team.
Strong written and verbal communication skills.
Strong business acumen with proficiency in application development and data warehousing.
Innovative thinker with creative problem-solving skills.
Strong analytical skills with ability to draw insight from large amounts of data.
Strong ability to establish and build effective relationships within and outside the organization.
Effective leadership abilities.
Very adaptable and excels in a stressful, high demand role where priorities can change frequently and must be managed simultaneously.

Responsibilities

Serves as a liaison with the NYSDFS preparing product filings with support analyses for loss experience and expense data. Includes product filing exhibits and responses to requests from regulators for additional data.
Analyze information using data manipulation, correlation, and statistical analysis.
Perform field research, including customer, distribution, competitor, insurance department and market surveys.
Identify opportunistic market segments and produce customized product strategies to promote growth via pricing and promotional positioning.
Responsible for project requests submitted to Project Management including detailed requirements for systems implementation relative to the support of product launches and rate changes.
Liaison and facilitator in coordinating activities and communications with divisional partners to execute on strategic initiatives related to profitability and growth.
Prepare internal and external product performance presentations.
Solicit and capture input from divisional partners concerning performance of product line and how best to optimize opportunities and most effectively execute the implementation.
Supports the development of proposals for corporate-level strategic profit and growth plans and associated action plans
Identify and lead negotiations with vendor partners including implementation.
Engage key divisional stakeholders throughout the process to ensure efficient workflows, data capture, transfer of information and premiums, etc. as necessary.
Make effective decisions in LOB product development and oversight.
Provide insight in the annual planning process, evaluating team priorities and capacity.
Provide support and guidance to team members in terms of project workloads, issue resolution, best practices, individual growth and development and job performance.
Mentor and lead by setting clear goals and expectations and providing regular feedback (positive and negative) to direct reports as appropriate.
Responsible for evaluation of team members and providing input on hiring, firing and salary adjustment decisions.
Motivate, empower, and encourage team members to challenge and better themselves.
Provide appropriate, timely recognition to team members when milestone tasks are completed, or goals are met.
Collaborate with supervisor and management team to foster inter-team cooperation, create a culture of trust and empowerment, and develop plans/activities to build/strengthen team unity.
Attend annual seminars to keep abreast of marketplace trends and updates.
Continuously focus on ways to improve leadership and supervisory skills.
Focus on expanding knowledge of other business units within the organization and the interdependent role they play in developing our products.
Explore innovative ways to enhance performance for the LOB.