Insurance Senior Product Manager (Property & Inland Marine Coverages)

IAT Insurance Group has an immediate opening for an Insurance Senior Product Manager focusing on Property & Inland Marine Coverages. Occasional travel is required. The Senior Product Manager position is responsible for maintaining product currency for existing products and for the development and implementation of new products such as coverage forms and endorsements, underwriting guidelines and strategies and rates and applicable rating rules. Additionally, the Product Manager will participate in the rate review process, develop new products and services, and maintain the profitability and growth of assigned lines of business. This role works a hybrid schedule from an IAT Office. The hybrid schedule requires working from the office Monday through Wednesday, with the option of working remotely on Thursday and Friday. Preferred IAT locations include Cheshire, CT; Alpharetta, GA; Raleigh, NC; Naperville, IL, or Scottsdale, AZ, Newark, New Jersey, Rolling Meadows, IL.

Responsibilities

• Work closely with underwriting business leaders to keep their product suite current.
• Develop and deliver training to underwriters and underwriter trainees as needed.
• Assist in the review of key CAT exposures (Hurricane, Convective Storm, Wild Fire, Flood & Quake, etc.). Help to maintain appropriate CAT pricing and concentration of risk.
• Work to maintain/improve rates.
• Work to review and improve coverage parts and endorsements for Property & Inland Marine lines of business.
• Work with Compliance to ensure all rates, rules, and forms are up to date and filed with the State Insurance department where required.
• Evaluate Insurance Services Office, Inc. (“ISO”) changes, asses any impact to supported businesses and communicate that impact to the appropriate areas of the organization.
• Collaborate with appropriate business leaders to define strategy in response to ISO changes, state law changes and case law that may affect coverage.
• Work closely with Legal to review and discuss drafted revisions of coverage parts and endorsements. Relay revisions, including reasons for such revisions, to the applicable business unit.
• Work collaboratively with IT and Regulatory to effectively implement agreed upon changes.
• Maintain and improve the forms library, underwriting guidelines, and rating manuals for use by business units.
• Understand drivers of line performance/profitability, including any necessary underwriting strategy changes based on performance.
• Collaborate with Claim leaders to understand claim issues and trends.
• Collaborate with Actuarial on base rate needs by line of business. Lead the coordination of the base rate management decision-making process across the organization.
• Collaborate with business units on an appropriate strategy based on the profitability of the line.
• Utilize industry services such as A.M Best, Conning, etc. to monitor industry dynamics and trends.
• Perform other duties as needed.
  
  

Qualifications

Must Have:

• Bachelor’s degree and at least eight years of commercial product management or equivalent experience.
• Equivalent is defined as a minimum of 12 years of commercial product experience.
• Possess 3 to 5 years of Commercial Property product development or management experience or 3-5 years of Property underwriting experience to include CAT management.
• Strong knowledge of insurance policy contract structures.
• Strong knowledge of actuarial concepts and pricing approaches.
• Strong analytical skills.
• Solid form drafting skills.
• Good project management skills.
• Good verbal and written communication skills.
• Good presentation skills.
• Ability to influence cross-functional teams without formal authority.
• Ability to problem-solve and make recommendations.
• To qualify, all applicants must be authorized to work in the United States and must not require, now or in the future, VISA sponsorship for employment purposes.
  
  

Preferred To Have

• Property, Underwriting, or insurance product experience
• Experience writing business requirements
• CPCU, ARM, or AU industry designations
  
  

Compensation

Please note, that the annual gross salary range associated with this posting is $72,560 to $157,950. This range represents the anticipated low and high end of the base salary for this position. Actual salaries will vary based on factors such as a candidate's qualifications, skills, competencies, and geographical location related to this specific role. The total compensation will include a base salary, performance-based bonus opportunities, 401(K) match, profit-sharing opportunities, and more.

To view details of our full benefits, please visit https://www.iatinsurancegroup.com/careers/benefits

IAT Insurance Group is the largest private, family-owned property and casualty insurer in the U.S. Insurance Answers Together® is how we define IAT, in letter and in spirit. We work together to provide solutions for people and businesses. We collaborate internally and with our partners to provide the best possible insurance and surety options for our customers.

At IAT, we’re committed to driving and building an open and supportive culture for all. Our employees propel IAT forward – driving innovation, stable partnerships and growth. That’s why we continue to build an engaging workplace culture to attract and retain the best talent.

We Offer Comprehensive Benefits Like

• 26 PTO Days (Entry Level) 12 Company Holidays = 38 Paid Days Off
• 7% 401(k) Company Match and additional Profit Sharing
• Hybrid work environment
• Numerous training and development opportunities to assist you in furthering your career
• Healthcare and Wellness Programs
• Opportunity to earn performance-based bonuses
• College Loan Assistance Support Plan
• Educational Assistance Program
• Mentorship Program
• Dress for Your Day Policy
  
  

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. We maintain a drug-free workplace and participate in E-Verify.