Simi Valley, HO Commercial- Product Manager

Job ID: 7133Location: Simi Valley, CADepartment: 671Education Required: Not IndicatedExperience Required: Not IndicatedPosition Description: Responsible for top line growth and bottom line profit for the product they are accountable for in an assigned geographical territory or industry group. Works with informational inputs from inside and outside the organization and business partners to create strategies and to direct the development of product pricing, underwriting and contract changes to achieve goals. Approves underwriting guideline changes and additions including form and coverage changes in assigned states or industry groups. Works with multiple business partners maintaining open lines of communication with the Agency Management, Claims and the Commercial Service Center organizations to obtain critical market and loss trend information. Travels to meet with business partners which may include large groups of agents to communicate strategies.Position Requirements:Creates long and short-term growth and profit strategies in assigned states or industries that align with company wide strategies. Reviews statistical analysis of data concerning loss patterns, market forces, agency management, etc. to evaluate the success of current strategies and tactics to either modify or create new ones. Approves underwriting guideline changes and additions for assigned states or industry groups. Manages policy forms for assigned states or industry groups. Approves changes to broaden or restrict coverage. Responsible for ensuring changes are communicated to field services, operations, underwriting, marketing and system technology teams.Participates in rate review process. Leads rate review discussions with Zone Marketing Managers, State Executives and Commercial Wholesalers. Coordinates rate reviews and changes with Actuarial. Makes pricing decisions including a rate change implementation plan. Assesses the impact on the in force book, new business production and agency force. Manages the development and review of recommendations concerning new coverages and contracts or revisions to existing contracts and endorsements. Evaluates the impact of product revisions on established operating standards including the effect proposed policies, procedures, and program changes have on profit and production prior to adoption.Takes leadership role in special projects for assigned states or industry groups. Directs development of product line introduction and provides input on the underwriting training and marketing materials in coordination with Home Office Marketing.Aids the Underwriting Execution Office in Commercial Center audits measuring underwriting, documentation, decision-making quality and adherence to published procedures; the introduction of new and/or revised policies, procedures and programs; collaboration in the development, maintenance, and implementation of underwriting tools that reflect underwriting philosophy and strategy.Conducts field travel to roll out new products and enhancements. Meets with business partners which may include large groups of agents in order to communicate strategies. Reports the results of assigned states and industry to senior management.Performs other duties as assigned.Position Attributes:Assistant Product Manager / Product ManagerThe Product Manager (PM) is responsible for the profitability and growth of an assigned product sold country wide or in an assigned geographic territory. The Assistant Product Manager does not have full profit/loss responsibility, but works with the Product Management team acquiring the skills required to assume full responsibilities. Every important decision related to the product, from design, to pricing to claims handling, is either implemented directly by, or with the input and direction of, the Product Director. The Product Manager spends time on:• Market and customer research and analysis in field, by phone and in office. Quantitative analysis from large marketing, policy and claims databases.• Trend and inflation analysis.• Forecasting and planning.• Proposing, funding and guiding large projects.• Localized strategic and tactical planning and execution.• Identifying implementation requirements.• Creating metrics, measuring and publishing results.• Detailed instruction, coordination and review of IT work.• Research and identification of opportunities in internal procedures, processes and people. • Presentation of strategy to groups, senior management and customers.Qualifications:• Requires extraordinary analytical or quantitative aptitude.• The ability to translate a technical analysis to consumers and distributors in such a way that they are inspired to act. • Requires enjoying a high-challenge environment and be able to influence action and results in a large, complex organization. • Requires the intellectual curiosity necessary to be a thought leader.The ideal individual must enjoy using analytics to help drive business decisions and interact with one-on-one, small and large group interactions and presentations. The PM has indirect authority and direct P&L accountability. As product champion and industry expert, your ability to lead by influence will determine your success. The APM does not have direct P&L accountability, but works under the direction of a Product Manager or Director.Advanced degree preferred (MBA or math/stats Masters), undergrad degree required.PM requires 4-7 years quantitative experience. APM requires 1-3 years quantitative experience. .