Stop Loss Product Manager

BCS Financial Corporation • Oakbrook Terrace, IL

7d

About The Position

The Product Manager is responsible for supporting the two primary Product Department functions of product management and product implementation. The Product Manager focuses on developing insurance solutions and the operational aspects of the product: 1) ensuring smooth and efficient product delivery and monitoring performance, and 2) Accessing market data required for effective decision-making by the P&L Segment Leader, the Director of Product Management, and the VP of Product and Marketing.

This position will report to the Head of Product.

Requirements

• Bachelor’s degree or commensurate experience required
• 5+ years’ experience supporting various health insurance and risk management product lines – Employer Stop Loss, Employer Self-funded solutions, Reinsurance, Cost Containment or Captives required
• 2+ years managing projects required
• General knowledge of insurance policies and regulations required, Clinical cost containment experience a plus
• Proven excellence in written and verbal communication, with the ability to convey complex information clearly and effectively across diverse audiences.
• Demonstrated proficiency in Microsoft Office 365 (O365), including advanced use of tools such as Word, Excel, PowerPoint, Outlook, and Teams.
• Strong analytical and problem-solving skills
• A track record of building trust through effective relationships across cross-functional teams.
• Exceptional organizational and time-management abilities, with the capacity to manage multiple priorities in a fast-paced environment.
• High attention to detail and commitment to accuracy in all aspects of work.
• Ability to interpret and analyze data to inform decision-making and support strategic initiatives.

Nice To Haves

• LOMA or other relevant insurance and compliance certifications preferred
• Clinical cost containment experience a plus

Responsibilities

• Develop Product Specification documents which detail product benefits & features and business requirements for functional departments that help to ensure both product consulting teams and implementation teams understand both strategic intent, product structure and the required steps for a successful launch.
• Ensure the necessary resources are aligned during implementation efforts by providing product collateral such as: project plans, competitor intelligence, process flows, and project updates.
• Drive and monitor project team productivity and keep Product Leadership informed.
• Provide feedback post-launch to support the Product Leadership in modifications to product strategy by providing details on feature concerns or operational issues in supporting product components.
• Research potential market opportunities; build the business case for product innovations by gathering distribution and appropriate market feedback, reviewing industry sales trends, and understanding demographic shifts/industry preferences.
• Leverage industry tools and resources to drive ongoing enhancement and growth within the product line.
• Analyze market trends and competitive landscape to identify growth opportunities in existing, new or underserved markets.
• Serves as the Product SME - point of contact in the company for Product questions and feedback.
• Supports the company by developing product materials, providing product training, providing input into sales & marketing collateral and sharing out broker and distributor feedback received.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager