VP, Head of Product Development

About the Role

Key Responsibilities

• Lead the product development process by working with underwriting, claims, and coverage teams to develop and draft new products, as well as improve existing products
• Review and provide legal advice in connection with developing and drafting new insurance products and improving existing products
• Advise on market standard offerings and opportunities for Coaction's underwriting teams
• Advise on specific implications of potential business decisions and initiatives to enhance opportunities and reduce business risk
• Promote a consistent approach to coverage, coverage philosophy, coverage guidelines, and best practices
• Provide counsel and strategic advice to business units and internal clients on all insurance product and regulatory related matters
• Research, develop, and maintain policy forms and endorsements needed to support new and existing products
• Monitor industry trends and changes in law impacting the relevant vertical markets
• Liaise with regulatory and operations teams during the form filling process, lead response efforts to critiques and objections from regulators, and collaborate with underwriting, claims, and coverage teams as necessary to resolve any such issues
• Collaborate with the reinsurance team, utilizing knowledge of the various products, to ensure that the company's interests are properly protected by our outwards reinsurance contract wording
• Ensure successful implementation of key technical initiatives by consulting with executives and other company leaders and implementing plans to improve business effectiveness
• Identify and analyze complex legal issues and make solution-oriented recommendations in resolving such issues

Requirements

• At least 5 years of product development leadership experience or working in a position that requires exercise of leadership competencies
• 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 and knowledge of resources and search methodologies
• Experience with 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
• Strong command of management and professional lines products, including D&O, E&O, FI, Cyber, and their related lines of coverage
• Highly organized, analytical, and detail-oriented
• Ability to manage multiple projects in a dynamic environment
• Strong interpersonal skills with a collaborative and energetic style
• Desire to learn and gain exposure to new areas

Nice to Have

• Experience with legal/contract language interpretation

Qualifications

• At least 5 years of product development leadership experience or equivalent leadership competencies

Benefits & Perks

• Salary range of $197,000 - $260,000 plus discretionary incentive bonus
• Standard benefits package including paid time off, medical, dental, and retirement
• Benefits depend on individual and organizational performance