If you’re passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you!
Compensation Grade: G3
Product Development is focused on providing proactive product functionality to deliver premier products to the marketplace. This role will collaborate with various areas such as Underwriting, Legal, Claims, IT, and Actuarial to design, develop, implement and maintain Commercial Auto and Property and Casualty product solutions. The ideal candidate will demonstrate the following:
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- Technical expertise in the following areas: Commercial insurance coverage and pricing methodologies with a focus on Commercial Auto and Property & Casualty preferred, designing policy form structure and drafting content with the ability to translate underwriting intent into Company best practice policy language, including endorsements, admitted rating manual content, and manuscript language, management of admitted forms, rates and rules content, including responding to DOI objections
- Ability to identify and correlate production and profitability impacts to policy form language
- Ability to analyze and provide product recommendations to business partners in the following areas: Regulatory changes, Market intel, Competitor intel, Emerging social, economic, or legal issues
- Ability to initiate, lead and execute on multiple projects involving various lines of business
- Ability to effectively manage and balance conflicting priorities
- Ability to work independently with a focus on analytical thinking
- Ability to work see a project all the way through to delivery and implementation
*Please note this role may be filled at a different level depending on candidate skills and experience.*
**Colorado Residents: Email taproces@nationwide.com for salary information.**
Job Description Summary
Working on our team, designing and managing excess and surplus insurance products and programs, offers new opportunities and challenges every day. Continuous learning and growing is essential, as is innovation and creativity. If you have all that and the ability to deliver successful programs and projects, we want to know more about you!
As a Consultant, you'll take the lead on initiating, developing and maintaining products/programs with respect to design, profitability and growth. You'll implement processes related to the design, pricing, underwriting, distribution, claims and other processes associated with developing/improving/running products/programs. We'll count on you to promote and provide high-level input on key initiatives that address strategy and profitability objectives. Your work will support an assigned state/regional/department and operations functions. You'll have opportunities to help coordinate and implement new products, programs and product changes and will help communicate product direction throughout the organization.
Job Description
Key Responsibilities:
Leads development and maintenance of products/programs from beginning to end.
Helps provide support, guidance and leadership to all functional areas of the company to promote product/program design and management.
Provides recommendations and feedback on pricing point decisions, design features and associated processes.
Finds opportunities for improvement and makes recommendations to management.
Provides high level, strategic input on key initiatives addressing product/program strategy and profitability objectives.
Identifies product/program opportunities in current and new markets and coordinates them within the organization's product development area. Aligns these opportunities to goals, meeting company/ regional/departmental objectives. Reacts appropriately to market conditions.
Works with Managers and Directors in all underwriting divisions and other departments, e.g., Actuarial and Claims, to anticipate company/regional/department needs and issues and acts as a technical resource.
Maintains expert proficiency in pricing, product/program design, legal compliance, data analysis, product/program distribution, marketing, claims, statistical reporting and insurance financials.
Identifies and evaluates business opportunities. Leads the analysis of market information on competitors. Leads new development and implementation initiatives. Leads the rollout of new initiatives/products/programs/improvements.
Provides management with assessments of financial results and recommendations to improve future performance.
Assist in communicating product/program strategy throughout the organization.
Develops and delivers new product/program training as appropriate.
Assists in evaluating and sponsoring new tools and technology to improve product/program performance or internal efficiencies.
Seeks opportunities to work with other business partners while developing cross-functional knowledge.
May perform other responsibilities as assigned.
Reporting Relationships: Reports to Director or Officer. May have direct reports and/or be responsible for virtual/project teams.
Typical Skills and Experiences:
Education: Undergraduate studies. Bachelor’s degree or graduate studies preferred. Insurance licenses or industry designations (i.e. CPCU, ARM, ASLI, AU, INS, etc.) based on organizational need, preferred.
Experience: Six years of experience in personal/commercial lines insurance, including underwriting, marketing, product management or comparable area preferred. Previous product management experience preferred. Excess & Surplus/specialty lines insurance experience desirable.
Knowledge, Abilities and Skills: Competent knowledge of analytical tools, core business functions, underwriting policies and practices, performance measurement techniques, systems, competitors, customers and regulatory agencies required. Knowledge of related pricing, marketing, insurance models/contracts and financial analysis necessary. Must have knowledge of training theory. Knowledge of marketing techniques and approaches. Evidence of growing responsibility and exposure to research, analysis and development as well as standards and practices for the selection, evaluation and pricing of products and programs. Demonstrated responsible decision making. Skilled in the use of analytic tools. Ability to drive for results, deal with ambiguity, communicate well and understand strategic objectives. High level verbal and written communication skills needed to consult on communication planning and direct the development of marketing materials. Ability to prioritize and manage long-term projects, as well as quick turn around assignments. Strong interpersonal skills. Ability to work in committees and act as project lead or participant.
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the Vice President and HR Business Partner.
Values: Regularly and consistently demonstrates the Nationwide Values.
Job Conditions:
Overtime Eligibility: Not Eligible (Exempt)
Working Conditions: Normal office environment. Extended and non-standard work hours based on project and customer deliverables.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.