ProSight Specialty Insurance

  • Director, Product Development

    Job Locations US-NJ-Morristown
    Posted Date 2 months ago(10/8/2018 9:46 AM)
    Job ID
    2018-1916
    # of Openings
    1
    Category
    Home Office Underwriting
  • Overview

    The ProSight mission is to constantly innovate and seek risk solutions for our clients within the niches we choose to support.  The Product Director role is instrumental in helping to translate niche-based innovations into legal, defensible, and quantifiable coverage forms, endorsements, rules and rates targeted to our clients’ needs. You are responsible for proprietary product development and maintenance for assigned programs. In this role, you will work independently in cooperation with Program Management to devise new proprietary Commercial Lines product offerings and to augment existing proprietary Commercial products.

    Responsibilities

    • Partner with Program Managers to identify and leverage innovative proprietary products and solutions that meet the diverse coverage needs of our niches and programs. Your innovative touches will help us to differentiate our products from the rest of the market.
    • Draw on your solid knowledge of all lines of Commercial coverage, and your research skills, to evaluate the coverage needs of the markets we serve, competitor product offerings, and to recommend and develop “cut-above” proprietary coverages and solutions.
    • Draw on your knowledge of rating, pricing and competitor rate filing research to develop rules and rates for proprietary products in cooperation with our Actuarial Department.
    • Collaborate with Claims, Legal, and Regulatory resources as necessary to ensure compliant and sound underwriting products.
    • Prepare product filings for all admitted products, in accordance with corporate standards, for hand-off to State Filings. Your knowledge of specific state regulations and requirements will result in products tailored as necessary to specific state requirements.  You will address and respond to DOI Objections received during the approval process.
    • You will work with Program Management and Information Technology with respect to implementation of your proprietary products, including communication of basic system requirements to I.T.
    • You will act as a resource to underwriting, program, and customer service areas to provide coverage consultation and insight, to assist in directing implementation of new or revised proprietary products, and to address proprietary product issues as they may arise.

    Qualifications

    • Comprehensive knowledge of ISO and Proprietary Commercial Lines Property and Casualty coverage, forms, rates and rules
    • Broad Commercial P&C industry knowledge and expertise
    • Expertise in targeted competitor filing searches; high level of knowledge of resources and search methodologies to ensure successful and productive competitor analysis
    • Minimum 3-5 years multiline Commercial property and casualty product development experience.
    • Minimum 5 -10 years’ general insurance experience. Prior Commercial underwriting experience desirable.
    • Experience with either legal/contract language interpretation desirable
    • Strong communication and collaboration skills
    • Superior language and writing skills, including ability to convey and structure complex material in a clear and readable format
    • Intellectual curiosity and excellent analytical skills
    • Strategic thinker with exceptional ability to identify innovative opportunities
    • Proactive, able to derive need without being told exactly what to do, self-starter
    • Professional credentials with BA or BS highly preferred.

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