Commercial Lines - Product Underwriting Manager - Allstate Business Insurance (Chandler, AZ)
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Think that working in the insurance field can't be exciting, rewarding and challenging? Think again. You'll help us reinvent protection and retirement to improve customers' lives. We'll help you make an impact with our training and mentoring offerings. Here, you'll have the opportunity to expand and apply your skills in ways you never thought possible. And you'll have fun doing it. Join a company of individuals with hopes, plans and passions, all using and developing our talents for good, at work and in life.
Allstate Business Insurance (ABI) is a ~$650 million operation, poised to be a top 10 Commercial Auto insurer by 2020, and is backed by the resources and strategic vision of Allstate Corporation (NYSE: ALL).
The Product Management team is responsible for making business decisions on ABI lines of insurance, appropriately considering product, pricing and risk management levers. In addition, the team evaluates the opportunities and challenges in the marketplace and builds strategies to address them while ensuring integration with other business units to achieve growth and profitability objectives.
The Product Line Manager assists ABI management in the development, implementation, and monitoring of complex Business Insurance risk management guidelines, programs, and procedures for assigned line(s) of business with consideration for pricing sophistication and risk appetite. The role serves as a subject matter expert on complex issues that require highly innovative and creative solutions.
- Subject matter expert for all Package lines of insurance, including Commercial General Liability, Commercial Property, Umbrella/Excess, and Inland Marine lines of business. Expertise encompasses coverage, rule and rate structure for the Package lines of business
- Develops and implements Risk Management, Pricing, Filing, and Product strategies using fact-based decisions based upon a knowledge of the commercial lines market, which includes competitors, regulatory and legal environment, claims handling trends, and distribution channel / agent relationships
- Monitors the overall profitability of the portfolio, while assessing the growth and retention of products to ensure consistency with product strategies, goals, and priorities
- Monitors and analyzes flow, loss, exposure, underwriting and premium trends for the lines of business to make corrective actions to improve growth and profitability
- Builds and leverages strong relationships with internal partners including Territory Managers, Field Sales, Underwriting, Marketing, IT, Compliance and Claims to form consensus on and move to needed actions
- Contributes to market share growth and profitability by recommending and implementing new/complex changes to risk management guidelines
- Anticipates and makes recommendations to solve market-specific implications on business strategies with regard to risk management guidelines
- Assures proper execution of regulatory/legislative practices for Product Management
- Develops, implements, and monitors effectiveness of Business Insurance risk management guidelines and procedure for assigned line(s) of business.
- Monitors property accumulations to ensure appropriate spread of risk
- Analyzes statistical, non-statistical, legal, and regulatory information to evaluate risk of potential market segments
- Properly evaluates trade-offs between risk management guidelines and pricing sophistication
- Prioritizes and manages initiatives for Property, Liability, and Inland Marine lines of business
- Develops, implements, and monitors appropriate levels and types of reinsurance as needed
- Trains/coaches less experienced team members.
- 8+ years Commercial Underwriting, Claims, or Commercial Product related experience
- Strong business acumen, with a strong interest in external Industry environment and trends, and ability to apply those to make informed decisions on rates, pricing and underwriting
- Strong qualitative and quantitative skills to support the application of sophisticated products, with multi-variant rating plans
- Thinks critically
- Detailed understanding of the business and rating plans
- Good knowledge of modeling tools
- Ability to dissect and manage data at a cellular level to optimize risk selection, market segmentation and competitive position
- Strong knowledge of competitor market conditions and ability to react accordingly
- Ability to articulate financial results and impact of strategy to senior management
- Proven project management skills to deliver successful growth initiatives
- Strong influencing skills, ability to work collaboratively and influence organizational thinking
- Bachelor's Degree Required
The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.
Good Work. Good Life. Good Hands®.
As a Fortune 100 company and industry leader, we provide a competitive salary - but that's just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you'll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.
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Allstate generally does not sponsor individuals for employment-based visas for this position.
Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.
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