Insurance Product Development Manager

Description Hastings Mutual is currently looking for a Product Development Manager. The individual in this role will be  responsible for for product innovation, including building new and creative products to enable differentiation, drive profitability, and seize new market opportunities in addition to leading the product team in the planning, development and maintenance of the product portfolio in support of enhancing our expertise in target markets. Additionally, they will oversee the research and response to key trends, regulatory adjustments, environmental forces and market needs, tracking and reporting product performance to key stakeholders while building positive relationships and leading or directing projects to bring recommendations to execution.  Reporting to the Director, Actuarial Services, this position will be based at our Hastings, Michigan corporate headquarters.  Responsibilities  Responsible for the overall supervision of the Product Development Department to include coaching, training, and ownership of performance management activities in partnership with Human Resources.  Manages a broad product portfolio with emphasis on the product life cycle from strategic planning to tactical activities, including requirements gathering for systems application and data content. Manages the development and maintenance of business cases, competitive analysis, launch plans, pricing and other product life cycle documents. Identifies business trends and forecasts demand. Partners with Underwriting in the development and implementation of Underwriting rules to drive product behavior. Works closely with business partners to understand the opportunities or problems that need to be solved and define product requirements to meet customers' needs. Maintains contact with customers in the market to ensure high levels of client satisfaction.  Leads the review and analysis of intelligence, bureau programs, ISO and/or AAIS circulars as it pertains to new and existing products or coverages including the Rules and Forms to convey the developed concepts. Directs the evaluation of our product portfolio against the competitive landscape and target market needs to determine potential product enhancements and retirements. Evaluates annually or as needed each program: coverages, forms, and rates for product improvement, competitive reasons, or as necessitated by court cases, legislative actions or State Insurance Department regulations to ensure Hastings Mutual remains competitive and profitable. Participates as a member of the Product and Pricing Review Committee. This would include preparing rate and coverage comparisons and making recommendations, doing competitive market analysis, researching state legislator concerns and doing studies and making recommendations on new products or enhancing existing ones. Responsible for making all the necessary filings with the State Insurance Departments to see that all products, forms and rates are in compliance with state regulations. Responsible for the preparation, distribution and documentation of Agents' Manuals and Rating Software. Candidate Requirements Bachelor's Degree is required. Chartered Property Casualty Underwriter (CPCU) and or Master's Degree preferred.  A minimum of 8-10 years' of experience in Commercial Lines Insurance, including 3-5 years of Product Development experience. Personal Lines experience is also desirable.  A minimum of 3-5 years of Supervisory experience (managing direct reports) is required.  Demonstrated ability to collaborate and manage relationships across a broad range of business partners and channels including clients, associations and the agent/brokerage community. Knowledge of Property and Casualty Insurance markets, products, forms, rate development, underwriting and state insurance regulations. Demonstrated experience with developing, launching and monitoring new products/programs. Problem-solving and analytical skills, including financial and data modeling experience, to ensure effective outcomes. About Us   PRODU01163  
Salary Range: NA
Minimum Qualification
8 - 10 years

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