Worker's Compensation Product Director

The Hartford•Hartford, CT

7h•Hybrid

About The Position

The Hartford is seeking a Product Director for their Small Commercial Workers Comp line of business, which is a $2.2B line. This role is accountable for driving key strategic items and requires the ability to work independently, think critically, and facilitate collaboration between the business unit, other functions, and external customers. The ideal candidate will develop detailed knowledge of the Workers Compensation product, including rating, pricing, underwriting, and premium audit, as well as operational procedures, underwriting strategies, and filed rate management. The Product Director will lead various strategies to ensure long-term profitable growth across core focus areas such as classification, exposure/premium audit, distribution dynamics, and the WC line’s rating/pricing architecture. This position involves working with a diverse team of business partners including the Transformation Office, Premium Audit, Data Science, Underwriting, State Product Management, Actuarial, and Middle & Large segment partners to monitor market dynamics, understand customer needs, and implement changes to business offerings and processes.

Requirements

7+ years of relevant industry experience, specifically in property casualty Product Management, Actuarial, Data Science, Premium Audit or other directly relevant experience.
Strong analytical skills essential. Ability to leverage data and understand insurance processes to drive solutions
Working knowledge of the Workers Comp line of business.
Strong decision-making orientation. Ability to make timely, well-reasoned business decisions that balance the needs of constituents across the Small Business organization.
Desire to solve problems. Ability to work across functions to drive solutions that leverage data/analytics to improve on technical processes, or innovate toward product solutions
Strong strategic thinking capability; demonstrated ability to anticipate emerging opportunities/problems and ability to partner with multiple teams to execute solutions.
Strong leadership skills; must be able to effectively lead cross-functional teams in a matrixed environment.
Demonstrated ability to influence organization to drive business plans and achieve results, including an ability to work with cross functional teams to solve problems.

Responsibilities

Develop detailed book profile understandings along a variety of attributes (e.g. state, industry, policy size, etc.)
Develop strong working relationship with transformation, actuarial, data science, underwriting, and premium audit partners to identify areas of opportunity to maximize profit and growth including new product ideas, markets, and target customers.
Develop detailed understanding of items impacting Workers Comp exposure management, including audit, classification, renewal ITV, and endorsement transactions
Develop a comprehensive understanding of how Small Business provides top tier ease-of-doing-business solutions for our Workers Comp customers, driving strategies to increase market share and policyholder retention.
Develop a fluent Workers Comp rating/pricing subject matter expertise, partnering with cross functional areas to drive solutions that support our strategic roadmap.
Influence the organization to make necessary changes to achieve business plan objectives.
Develop an in-depth knowledge of key competitors maintaining a broad base of industry knowledge and current economic and business trends.
Leverage Small Business Analytics Office assets to monitor key initiatives
Reports out to senior management as required.