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The Global Risk Solutions (GRS) North America (NA) Product & Underwriting team supports elite underwriting by creating strategies and products to enable profitable growth, developing best in class technology and processes that enable efficient and sophisticated underwriting quality decision making, providing effective underwriting support via our Center of Excellence, and providing best in class loss prevention services to our customers. We are currently searching for a Vice President, Product Management Workers Compensation (WC). This role reports to the SVP, CUO for GRS NA.
Line Product Management Teams have the responsibility of developing overall Line of Business (LOB) strategies that drive profitable growth for GRS North America, including appetite and underwriting strategy to enable quality risk selection and product management to respond creatively to the unique needs of our National Insurance (NI) customers. This VP manages holistic product management for WC, which serves as the leading expert on all aspects of WC by industry, coverage, book profile and profitability, relationships, service, legal/regulatory environment, competitive environment, emerging risks and trends. Collaborates with Referral teams, Field Underwriting, Distribution, Industry Expertise, Underwriting Services and other partners in order to build expertise, execute line of business strategies, and create focus/accountability.
About the role:
- Manage a staff of experts who execute line strategies, drive expertise, and create focus/accountability for WC. Develop, administer and monitor underwriting guidelines, analyze results and develop action plans to improve execution and results.
- Attract, select, develop, manage & lead staff of high-level individual contributors who are responsible for the development, management and communication of underwriting appetite, policies, guidelines, coverages, and forms with responsive problem solving and a commitment to growing WC profitably.
- Partner with analytics and pricing to explore, analyze and critically evaluate product line information to identify opportunities to develop or enhance new products, services, pricing strategies, etc. React quickly and effectively to growth and profit challenges; anticipate and implements product changes that align with target markets.
- Exposure Management: (Appetite/Guidelines): Monitors effectiveness of guidelines through results, marketplace opportunities and assessment of guidelines for NI to meet its business objectives. Ensure established guidelines and procedures are in compliance with all applicable insurance laws and regulations. Monitor catastrophe exposure and develops appropriate strategies to manage the exposure at an acceptable level.
- Competitors: Accountable for developing and maintaining a comprehensive understanding of our competitors' products, appetite, and capabilities; provides insights into new and emerging needs in the industry. Transform competitor intelligence into relevant, accurate and usable strategic knowledge to create strategies and new product development opportunities.
- Knowledgeable & experienced with state specific approaches & challenges for assigned line of business including regulatory issues and. Additionally, independently manages development and execution of state reviews or countrywide programs for basic to complex states.
- Training: Drive deeper, broader field expertise of generalist underwriters and transfer knowledge into field underwriting operations (and agents/brokers) through consultative and referral protocols. Identify training opportunities for referral and field underwriters; serve as content expert and facilitator for QA & training.
- Work with Referral, QA and Training peers to implement and monitor file review, training and QA process to identify leakage targets, Book of business results and build expertise.
- Bachelor degree required with advanced degree and/or Insurance designation preferred.
- High degree of technical proficiency in all aspects of coverage, pricing, structure, rating, rating plans, loss forecasting, credit risk, market knowledge.
- Accomplished insurance leader in product development, underwriting, actuarial and/or claims that has developed a deep experience with Workers Compensation.
- Ability to translate strategic vision into tactical / actionable initiatives to achieve desired goals. Current with market trends, competitor differentiation, and emerging issues and opportunities.
- Operations management and leadership skills; ability to build capabilities and build the team. Ability to balance multiple and sometimes conflicting goals, solve problems, and influence others.
- Highly developed written, verbal communication skills and interpersonal skills and ability to interact with individuals at multiple levels.
- Must be relationship and service driven. Must be a skilled collaborator, who is willing to assess all sides of an issue, bring in others with expertise, and have the ability to advance the collaboration model.
- Collaborative leader with demonstrated ability to build mutually beneficial networks across organizations with excellent communication and strategic planning skills.
- Operate in a team environment and with a sense of urgency.
- Advanced levels of negotiation skills and influencing others and critical thinking skills.
- Experience working with brokers/agents preferred.
- Strong analytical, critical thinking and problem solving skills.
- Experience coaching or training insurance professionals.
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