Director of Product Management - Auto

Westfield Insurance

Westfield Center, OH

Full Time

Director

27 days ago

Job Description

About the Role

The Insurance Director of Product Management - Auto, leading a team of Insurance Product Managers, will have country-wide Profit and Loss (P/L) accountability for a specific product line(s) and/or a specific geographic region. The role achieves underwriting profit and growth objectives in close partnerships with cross-functional team members to define and drive product and pricing strategy across the organization.

Key Responsibilities

Profit and Loss accountability for multiple insurance product line(s) and/or geographies.
Reports Profit and Loss growth performance results of assigned product(s) to key stakeholders.
Achieves underwriting profit and growth objectives through product, pricing, underwriting, and other actions in close partnership with cross-functional team members.
Collaborates with the senior leadership team and key stakeholders to develop a multi-year customer-centric product strategy for assigned product(s).
Aggressively monitors product performance to ensure early identification, diagnosis and response to changing trends.
Analyzes and evaluates product performance metrics to form recommendations regarding market opportunities, risk appetite expansion, and innovative product enhancements.
Acquires market and competitive intelligence and develops knowledge of emerging trends to effectively compete in a rapidly changing environment and shares that knowledge with the organization.
Identifies market opportunities, defines product vision and strategy, and consistently delivers exceptional financial results.
Develops business cases for new products and product enhancements and works with business unit management to analyze capital project expenditures and other strategic initiatives including analysis of cost savings, return on investment and payback period.
Ensures product integration with marketing, sales, underwriting and operations and maintains a strong understanding of changing legislative, regulatory, market and competitive landscape to drive profitable growth of new and existing products.
Ensures product decisions and processes are in alignment with company policies and meet all legal and regulatory requirements.
Demonstrates excellent problem-solving abilities, in a practical way, to balance between addressing root cause and introducing changes in fast order.
Accountable for talent management and navigation of employee related issues that impact morale and work environment to ensure a high performing team.
Manages priorities and workload distribution and removes barriers that impede progress.

Requirements

12+ years of industry experience in Insurance Product Management or a related field.
Bachelor's degree.
Master's degree preferred.
Experience in Insurance Product Management.
Knowledge of market research, change management planning, quality assurance, insurance operations, enterprise application software, product strategy, agile project management, technology solutions, product roadmap, business relationship management, and product requirement analysis.