We are seeking a strategic and results-driven Commercial Insurance Risk & Pricing Manager to lead the optimization and management of our insurance products. The ideal candidate will be responsible for optimization of pricing, coverage, and underwriting guidelines for our commercial insurance offerings. This role requires collaboration with underwriting, sales, and technology teams to drive product innovation and profitability.
Product Development & Strategy
- Refine insurance products based on market research, customer insights, and competitive analysis.
- Define product roadmaps and work with cross-functional teams to bring new products and coverage features to market.
- Monitor industry trends and regulatory changes to ensure compliance and competitiveness.
Pricing & Profitability
- Refine pricing models that balance risk and profitability.
- Analyze claims data, model cat losses, and underwriting performance to refine pricing strategies, rating factors, and underwriting rules.
- Maintain and update underwriting guidelines and practices.
Market Research & Competitive Analysis
- Conduct research to identify customer needs, market trends, and competitive positioning.
- Recommend product enhancements and new opportunities based on data-driven insights.
- Work closely with sales to fully understand customer needs and ensure product has sufficient features and pricing to be competitive in the market.
Cross-Functional Collaboration
- Work closely with underwriting, sales, legal, marketing, and technology teams to ensure successful product launches.
- Provide training and support to sales teams to effectively position and sell products.
Regulatory & Compliance Management
- Ensure all products comply with non-admitted insurance regulations and company policies. Conduct independent research of state statutes where required.
- Work with legal resources and carrier personnel to obtain necessary approvals for coverage and forms changes.
Performance Monitoring & Optimization
- Track and monitor key performance metrics, including conversion rate, quote cycle time, claims experience, profitability, PML and aggregation.
- Adjust product features and pricing as needed to optimize performance.
Qualifications & Skills
- Education: Bachelor’s degree in Engineering, Sciences, Business, Finance, Insurance, Actuarial Science, or a related field. Relevant work experience and demonstrated skills can substitute for formal education.
- Experience: 3+ years of insurance product management and/or analytics within the insurance industry (property & casualty or specialty insurance).
- Strong Excel skills required. Python or other programming language and SQL skills are preferred.
- Strong understanding of underwriting, coverages, actuarial principles, and regulatory requirements. Cat modeling experience is plus.
- Experience in data analysis, pricing strategies, and risk assessment.
- Experience in commercial lines or specialty insurance is a plus.
- Excellent communication and stakeholder management skills.
- Ability to think strategically while managing day-to-day operational details.
Compensation & Benefits
- Competitive salary + performance-based bonus.
- Health, dental, and vision insurance.
- 401 (k)
- Hybrid or remote work flexibility
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