Product Development Senior Professional

Job Summary:

The Product Development Senior Professional supports the formal product development life cycle for new products, product enhancements, and required insurance product changes. This role assists the Product Managers for assigned property and casualty insurance lines of business in developing product roadmaps and executing product strategy.

This role will have either or both of the following responsibilities:

• Technical product development which includes insurance policy form and coverage development,  and supporting the advancement of other insurance product initiatives.
• Agile development and delivery responsibilities

Technical Product Responsibilities: This role may include leading technical product development and management of core insurance products, which includes insurance policy forms and notices. If assigned technical product responsibilities, this role supports company and product strategy, profitability, and customer needs by developing new insurance forms and coverages as well as enhancements or refinements to the existing insurance policy forms. Technical product responsibilities also include ensuring that assigned insurance products are compliant to state statutes and regulations. Individuals in this role serve as subject matter experts with regards to technical product knowledge, drafting policy language, and policy construction for assigned lines of business.  Technical product development includes recommending and developing underwriting rules and guidelines for new and existing products. 

Agile Product Responsibilities: This role may include Agile development responsibilities.  Specifically, this role may entail serving as the lead business representative for assigned insurance products by providing Agile/IT development teams with clear specifications and expectations related to insurance product changes with IT components. This role entails working with the Agile/IT teams to ensure work is specified accurately and completed satisfactorily before it is elevated into production so that intended business outcomes are achieved. 

This role supports business results by ensuring:

• Products are increasingly compelling to agents and customers
• Insurance products are compliant with state statute and regulation and supported by effective underwriting and business rules
• Insurance agents and customers experience a high degree of ease of use when interacting with company products
• Agile and IT teams can implement insurance product changes and new products efficiently and with clear specifications and success criteria

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Technical Product Job Responsibilities Include Some or All of the Following:

• Conducts market research and analysis to identify market trends and customer needs, gathers data, and analyzes it to determine customer preferences and make recommendations for new products.

• Regularly performs reviews of competitor forms to identify competitive insights. Clearly articulates differences between company and competitor forms. Maintains an archive of competitive forms.

• Assists the Product Development Manager with the product development life cycle (e.g., the development of new coverages, enhancement to existing coverages, etc.) by making recommendations for appropriate action, preparing form, rate, and rule materials for filing, identifying, and researching product deficiencies and opportunities and implementing approved product changes.

• Supports Product Managers with technical aspects of scripting and development of policy language, statutory changes, changes to existing policy forms, new form and policy development, and manual rules/guidelines. This includes working closely with company legal, claims, and underwriting partners to develop and review forms and coverage language to ensure clarity and that coverage aligns to coverage intent. 

• Coordinates product and forms filings with a filing team. Supports form filings including objection responses related to the forms and associated rules.

• Leads updates to Rate, Rule, and Forms manuals and takes ownership of internal insurance product form libraries for assigned lines of business.

• Works closely with User Experience and other stakeholders to ensure a high degree of ease of use for agents and customers to interact with and select new products or product enhancements

• Develops coverage options for target customer segments.

• Performs initia