Product Manager International Catastrophe Insurance
The Product Manager (PM) is responsible for the underwriting quality, profit and loss, and premium growth for the assigned states, and/or products/companies within a region. The PM is responsible for assisting in the future development of innovative business approaches while proactively participating in meetings and projects to continually improve the underwriting capabilities and performance of the Company.
Strategic Planning and Business Leadership
Develop primary goals and operating plans, policies and procedures to meet those goals, including premium production, underwriting quality, fee income and expense budgets to meet P&L objectives. Implement these following REO or UCRB approval.
Actively seeks new business opportunities and innovation in the assigned states to enhance revenue and profit growth for the Company.
Lead the underwriting team towards objectives, reviews state underwriting results and present state results on a monthly basis to the REO and UCRB.
Represent the company to business partners, trade associations and regulatory agencies.
Plan and direct the regional underwriting team effectively by anticipating internal and external factors that will affect short-term and long-term strategic plans.
Participate in the company?s budget process to develop methods that achieve P&L objective and maximize operational efficiency.
Region Underwriting Leadership
Develop and implement strategic and tactical plans for the region to achieve underwriting, profitability and premium production goals.
Identify and implement proactive changes in tactical plans to ensure state goals are achieved including coverage modifications, underwriting rules, rating methodology, pricing, producer management, sales strategies, etc.
Monitors all lines of business in the region for pricing, competitive trends and identifies problems with accounts and producers.
Responsible for the performance of the Platform Business Unit (PBU) and the Middle Market Business Unit (MMBU) accounts for the region and all other products underwritten in the assigned region.
Responsible for creating and maintaining strong business relationships with key business partners in the region.
Work with Sales and Marketing to proactively manage producers in the region and to drive production.
Ensure underwriting quality for region is achieved as measured by various underwriting metrics including: EALR, PML to Premium Ratio, blueprints, LCOR, loss ratios, internal/external audits, etc.
Perform underwriting and claim review(s) to determine quality of business, reasons for loss experience, price adequacy and compliance with regulatory filings. Develops and implements recommendations to address findings.
Ensure compliance with company policies, legal and regulatory requirements, reinsurance, and underwriting standards for the region.
Ensure the delivery of high quality customer service, both internally and externally for the region.
Adhere to blueprint objectives and capacity management.
Responsible for managing the expenses as planned in the annual budget.
Leadership and Supervision
Provide technical leadership and managerial direction to designated personnel.
Establish initial and ongoing training for personnel to ensure an adequate level of understanding regarding the company?s guidelines, policies and procedures.
Ensure that individual and team performance meets ICAT?s standards of service and quality.
Work collaboratively and develop and maintain effective working relationships with all ICAT personnel, business partners, and vendors.
Establish service level agreements (SLAs) with internal support departments, including the inspection business unit (IBU), the sales and marketing business unit (SMBU) and the risk business unit (RBU). SLAs are formal written documents established annually that detail the specific responsibilities and performance metrics required of the support department. SLAs are reviewed and performance is reported to the CUO not less frequently than quarterly.
Provide effective leadership to personnel to ensure a complete understanding of ICAT objectives, to maintain a positive work environment and a high level of morale.
Proactively assist with the identification of training and development requirements of the regional underwriting team. Present findings and work with appropriate personnel to design and implement training and development initiatives that will continuously upgrade the skills and capabilities of the regional underwriting team.
Work directly with appropriate ICAT personnel to understand project concept, objectives and approach.
Take assigned project from original concept through final implementation.
Define project scope and objectives.
Create and maintain project schedules by developing project plans and specifications, estimating time requirements, establishing deadlines, monitoring milestone completion, tracking all phases of the project product/service lifecycle, providing timely reporting of issues that impact project progress, coordinating actions, and resolving conflicts.
Conduct project meetings.
Meet with project team(s) regularly to review project deliverables and deadlines.
Meet with appropriate personnel for periodic reviews of prototypes and final products.
Provide single point of contact for assigned projects.
Coordinate interaction and communication among ICAT personnel.
Identify and coordinate assignments of internal resources and external contractors to meet ICAT project requirements.
Work with appropriate personnel to allocate personnel time to project tasks and to track progress of their work.
Other duties as assigned.
Works under the general supervision of the Vice President Product Management. This position does not supervisor other personnel.
ICAT Core Competencies
Proven success in the following job competencies:
Analysis and Reporting
Problem Solving and Decision Making
Technical Industry and/or Profession Expertise
Business Planning and Management
Communication and Presentation
Customer Focus and Relationship Building
Champion for Change
Information and Technology Proficiency
A minimum of five years insurance, and/or financial services experience, including underwriting, marketing and product management preferred, with a minimum of one to three years experience with profit and loss for a segment of the business.
Demonstrated experience in the areas of business development and management in an insurance company.
Demonstrated knowledge of ICAT?s lines of business/regions including the political, legislative, economic, demographic environment preferred.
Bachelor?s degree in Business, Insurance, or related field or equivalent experience.
Advanced skills in Microsoft Office applications.
Intermediate skills in MS Project.
Intermediate skills in underwriting, claims and data warehousing applications.
Knowledge of e-mail/scheduling software applications.
Physical Work Demands
Able to sit and work at a computer keyboard for extended periods of time.
Able to stoop, kneel, bend at the waist and reach on a daily basis.
Able to perform general office administrative activities: copying, filing, delivering and using the telephone.
Able to lift and move up to 25 pounds occasionally.
Mental Work Demands
Regular and on-time attendance.
Hours regularly exceed 40 hours per week.
Regular travel by conventional means including aircraft, motor vehicle and the like within the region and to other locations as required.
Note: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required and are not intended to be an exhaustive list of all duties, responsibilities or qualifications associated with this job.
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Boulder, CO 80303