Senior Commercial Lines Product Manager

Encova Insurance•Ohio, home-based, OH

4d•$97,153 - $155,445•Hybrid

About The Position

Encova Insurance is seeking a Senior Commercial Lines Product Manager to join their team. They prefer candidates who reside near their corporate headquarters in Columbus, Ohio, and can work a hybrid schedule. However, they will also consider highly qualified candidates residing in any state where Encova is authorized to hire. This role is responsible for managing assigned lines of business and other products to optimize profitability and align with corporate strategy, developing profitable growth strategies, and strategically planning new products, product revisions, and product rate reviews. The position also involves providing technical support and acting as a mentor to develop expertise in others.

Requirements

Previous experience in reading and interpretation of insurance rating manuals, policy forms & endorsements, and various state and trade bulletins is required.
Proven analytical skills; proficient with data management tools (i.e. Tableau), and knowledgeable in analyzing financial results, profitability, and forecasting.
Proven superior interpersonal communication (oral and written) and leadership skills that support a collaborative, inclusive culture, including the ability to effectively communicate with executive leaders throughout the company.
Experience with strategic thinking/planning for good forecasting skills, inductive and deductive reasoning skills.
Must be decisive, ask the right questions at the right time and be able to empower project team members.
Ability to delegate work to others and mentor others to develop their expertise.
Ability to set realistic goals and to apply these skills in defining product roadmaps.
Insurance product domain expertise spanning the customer discovery, planning, and product development process; deep understanding of customer-centric product practices; ability to mentor and develop expertise in others.

Nice To Haves

A Bachelor’s degree from an accredited college or university is preferred. Commensurate experience may be considered.
A minimum of seven years’ experience with commercial lines product management and underwriting and/or claims experience preferred.
Experience with state filing through S.E.R.F.F. is preferred.
Chartered Property Casualty Underwriter (CPCU) or other professional insurance designations preferred.

Responsibilities

Develop and carry out strategic plans to grow assigned lines of business (products) by working closely with commercial lines leadership, key stakeholders and cross-functional teams within the organization.
Perform thorough assessments of profitability, product profile, competitor information and growth to identify loss and profit drivers and market opportunities. Lead the development of solutions to address loss drivers (and optimize profit drivers) through collaborations, strategic and innovative thought, and data-based decisions.
Lead efforts in the creation of and effectively communicating market insights, product strategy, recommendations, policyholder notices and project updates. This includes developing comprehensive, well-written proposals and presentations for impacted areas of the company as well as senior leadership and communication of proposals and other relevant intranet resources.
Act as a subject matter expert (SME) on projects to ensure the intended direction and help with business requirements to support a successful deployment. This may include leading the creation and execution of user acceptance testing.
Coordinate and execute new carrier/state launches, which may include determining algorithms for new states and delivering requirements for system specifications.
Ensure premium algorithms, rates, rules and class codes are compliant with state regulations and are loaded correctly into the appropriate systems. This includes any relevant updates to guidelines and communication to stakeholders.
Monitor adoption of ISO manual revisions and advise insurance department of the company’s adoption date or deferral date.
Ensure that all filings are properly prepared. Act as a consultant on filing issues, providing input and instruction when needed and reviewing all filings prior to submission.
Collaborate with compliance specialist and other business partners to stay aware of state regulatory environments and any revisions published, including support of market conduct examinations and audits.
Review and stay abreast of trade organization circulars and bulletins (ISO, NCCI, NCCI etc.) and make recommendations as to their effect on the company's portfolio of products.
Provide training for new and less-experienced team members and relevant department training that supports organizational and department priorities. Act as a coach to other team members by providing support and guidance.
Monitor metrics by project and by product to strengthen product management effectiveness across the portfolio.
Lead ad-hoc research committees and projects to conclusion, developing and presenting proposal to senior leadership.
Lead/support the activities of Annual Rate Review meetings.
Oversee vendor research projects including the vendor demonstrations and proposals for purchase.
Lead cross functional operation meetings as necessary.
Represent Product Management in meetings and conferences as necessary.
Perform other duties as assigned.