Senior Product Development Manager - Multiline REMOTE - 11984_43073982560_5-4459

$102,400 - $171,500/Yr

Accident Fund Insurance Company Of America - Chicago, IL

Full-time - Senior

Chicago, IL

Insurance Carriers and Related Activities

About the position

The Senior Product Development Manager is responsible for overseeing new product development and enhancing existing commercial property and casualty products. This role involves supporting enterprise-wide operational consistency and integrity while managing complex business processes across multiple departments. The position requires a strategic approach to product ideation, compliance, and market development, ensuring alignment with the company's goals and best practices.

Responsibilities

• Analyze, research, and report on underwriting trends, issues, laws, rules, regulations, and best practices, providing recommendations as appropriate.
• Develop and maintain forms (admitted/non-admitted) and coordinate internal form committee alignment.
• Oversee rule manual development and maintenance, as well as coordinate rate development.
• Identify, solve, and manage problem markets aggressively.
• Assist in developing enterprise underwriting policies, procedures, and best practices.
• Implement and monitor policies, practices, procedures, and workflows.
• Outline improvement opportunities and coach management on ways to improve.
• Participate in the identification, preparation, and presentation of training programs at an Operating Unit and Enterprise level.
• Serve as a technical expert and consultant in Corporate Underwriting for all operating units.
• Advise on responses to questions and concerns from operating units and Bureau inquiries.
• Collaborate with enterprise operating units to support cost containment strategies.
• Represent Corporate Underwriting on various committees and events as appropriate.
• Perform special projects and evaluate departmental programs and projects.
• Maintain confidentiality of all information processed.
• Lead research, analysis, and implementation of new or existing product ideas and enhancements.
• Evaluate cost benefits of product initiatives and recommend actions based on evaluations.
• Conduct full policy wording reviews for renewals to ensure compliance with underwriting guidelines.
• Play a key role in developing strategic product and underwriting strategies to support business goals.
• Create best practices and training to engage the enterprise.
• Manage key compliance and regulatory relationships, including product objection management.
• Act as a key contact for developing and implementing new products or practices specific to the product.
• Maintain expert knowledge of state regulations, compliance, coverages, and operational processes.
• Support complex ISO-based and proprietary changes, coordinating with business partners to develop filing packages.
• Research and approve complex updates and changes to ISO, NCCI, and regulatory product updates.
• Communicate risks of noncompliance due to technical constraints and collaborate with partners to resolve issues.
• Work with third-party vendors and manage consultant relationships to integrate product needs.
• Assist in new market development and act as a liaison to departments involved in new market development.
• Analyze new opportunity design, build, and implementation.
• Collaborate between Corporate Underwriting and Operating Units.
• Draft, develop, and implement new products or practices specific to the product.
• Apply expert guidance related to regulated states and complex filings.
• Develop new product ideas, review existing products, and draft new coverage language.

Requirements

• Bachelor's degree in Insurance, Business, Math, Finance, or a related field required.
• Minimum ten years of commercial property and casualty underwriting experience, with strong multi-line experience.
• Experience with alternative market/specialty programs is a plus.
• Two years of experience as a Corporate Underwriting Consultant or equivalent experience is required.
• Extensive knowledge of commercial property and casualty with strong multi-line experience.
• Experience in insurance product development and product ideation.
• Ability to build out multi-line capabilities for the enterprise.
• Experience with insurance-related regulatory and governing bodies.
• Experience in implementing new product offerings into a technology platform.
• Ability to exercise good judgment in evaluating commercial property and casualty risks.
• Demonstrated results in Product Development, Market Strategy, Market Research, or Risk Management.
• Ability to read, write, analyze, and interpret policy documents and technical information.
• Excellent oral and written communication skills.
• Strong analytical skills to identify improvement needs and develop solutions.
• Ability to manage multiple projects and meet deadlines with minimal direction.
• Proficiency in Microsoft Windows and spreadsheet applications.

Nice-to-haves

• Progress towards or completion of industry-recognized professional designations (i.e., CIC, AU, CPCU) preferred.
• Experience with complex product and policy construction considerations.

Benefits

• Competitive salary based on experience and market factors.
• Opportunities for continuous learning and professional development.
• Flexible work environment with remote options.
• Comprehensive health insurance coverage.
• 401(k) retirement savings plan with company matching contributions.