State Manager, Insurance Product Management

GEICO•Bethesda, MD

1d•Hybrid

About The Position

GEICO is seeking an experienced Product Manager to join its Insurance Product Management team. This role is crucial for driving GEICO's profitable growth and innovating its products. The Product Manager will be responsible for strategically analyzing opportunities and risks, leading efforts to solve complex business problems, and implementing positive change. This position offers significant visibility with Senior Management and is responsible for delivering results in one or more states, aiming for both profitability and rapid growth. The role involves building product strategy, driving pricing and non-pricing decisions, and understanding market dynamics to develop specific strategies related to price, product, and underwriting. Collaboration with subject matter experts, other company leaders, and regulators is a key aspect of this position, as is managing the end-to-end lifecycle of initiatives and ensuring compliance with laws and regulations.

Requirements

Demonstrated deep understanding of pricing and product management strategy and tactics with a proven track record of success.
Minimum of 7 years in P&C insurance industry with an understanding of the current environment.
Working knowledge of insurance regulation and related business constraints.
Prior experience managing and developing state teams.
Capable of managing states with little/minimal oversight.
Bachelor’s degree with relevant academic background required.
Must be a self-motivated, goal-oriented individual with curiosity.
Demonstrated ability to exchange ideas and convey complex information clearly, both verbally and in writing.
Strong analytical abilities with solid understanding of pricing techniques and insurance operations including underwriting.
Must have good planning, organizational, decision-making and communication skills.
High level knowledge of data sources, tools, and modeling techniques.
Ability to adapt to a fast-paced and changing environment and get work done through others.

Nice To Haves

Master’s degree in business or related field.
Other industry designations: FCAS, ACAS, or CPCU.

Responsibilities

Manage assigned state(s) to meet profitability targets and grow as fast as possible.
Create a strategic vision and roadmap for areas of ownership, applying leadership and persuasion skills to achieve it.
Understand assigned markets and develop specific strategies related to price, product, and underwriting.
Utilize analytical problem-solving and leadership skills to execute and deliver product initiatives.
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.
Review and make recommendations on process and governance from a country-wide state management perspective.
Direct the end-to-end lifecycle of department and corporate initiatives.
Advocate on behalf of the company with regulators and consultants and in legal and compliance matters.
Manage rate filings through approval, reviewing and approving text for rate reviews, filings, and internal communications.
Implement product changes effectively and in compliance with laws and regulations.