Insurance State Product Manager

Are you interested in a position that allows you to think critically and creatively and provides the opportunity to manage growth and profitability for an assigned market?

Walnut Creek, CA

CSAA Insurance Group

Celebrating our 100th anniversary in 2014, CSAA Insurance Group is one of the top 20 personal lines property and casualty insurance groups in the United States. We offer automobile, homeowners and other personal lines of insurance to AAA members, through partnerships with AAA clubs in 23 states and the District of Columbia. Headquartered in Walnut Creek, California, we have more than 3,600 employees located primarily in Arizona, California, Colorado, Nevada, New Jersey, and Oklahoma. Our company is rated A+ by A.M. Best, the insurance industry's most respected ratings agency, and we are on a path of significant expansion. In the past 10 years, we have grown from a regional insurance provider in three states- to a coast-to-coast organization reaching nearly 17 million AAA members in 23 states and Washington DC. https://csaa-insurance.aaa.com/content/aaa-ie/b2c/en/homepage.html

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Product Manager

https://aaaie.wd1.myworkdayjobs.com/en-US/CSAACareers/job/Walnut-Creek-California/Insurance-State-Product-Manager_R422-2

Overview: <p>Our State Product&nbsp;Managers are empowered with P&amp;L responsibility to manage the growth and profitability of all of CSAA Insurance Group&rsquo;s products in their assigned states. You will develop and implement business strategies and tactics as you ensure development and profitable growth in your area. We&rsquo;re looking for someone who knows how to think critically and creatively to find new opportunities for incremental growth and profit.</p> <p>&nbsp;</p> <p>Working in collaboration with Pricing, Underwriting and Distribution, as well as the Partner Clubs in the region, the SPM ensures that their states achieve targeted overall product performance results. As the primary contact with the Clubs, the SPM will regularly interact with Club Insurance Executives on all product related issues.</p>
Responsibilities: <p>The SPM must ensure that their states achieve targeted overall product performance results, as defined by the Regional Product Management Executive in deep collaboration with Pricing, Underwriting, and Distribution teams, as well as the Partner Clubs in the region. The management within the states of rate revisions and rollouts of new and enhanced products is a key activity requiring coordination with multiple stakeholders and careful project management. To realize optimal product performance, the SPM must directly track and monitor agreed upon KPIs and actively solicit feedback from Club executives and their agents, in coordination with the Market Development team. It is important that Partner Clubs be regularly engaged in product discussions, in conjunction with the Distribution teams. It is expected that the SPMs are the primary contact with the Clubs concerning all product related issues.<br /><br />Near term focuses will include (a) development of a detailed 3-year business plan that results in achievement of targeted loss ratios for each state that includes pricing, product, underwriting, and other changes and initiatives, (b) management of the conversion of our legacy products to Signature Series and PAS, and (c) rollout of Usage Based Insurance and Signature Series property. Though pricing responsibility is with the actuarial group, the SPM is expected to play a leadership role in influencing the pricing decisions and appropriately manage the product to achieve profitability and growth targets. SPMs will continually assess profitability, performance, competitor actions, industry trends, and the regulatory environment and initiate changes to the product or rating approach in territory in order to maximize the IG&rsquo;s opportunities.</p> <p>&nbsp;</p> <p><u>Key Duties</u></p> <ul> <li>Manage auto, property, and personal umbrella products in assigned states.&nbsp; Work with Distribution, Underwriting, and Pricing to implement product and rate changes to achieve our financial and operational performance targets.</li> <li>Establish underwriting guidelines, monitor their effectiveness, constantly ensuring the book of business consists only of eligible risks and that these are priced&nbsp;correctly.&nbsp;&nbsp;</li> <li>Engage with Partner Clubs as the primary contact for all product related discussions.&nbsp; Excellent communication skills are critical, as is the ability to influence.</li> <li>Ensure that the Clubs and their agents are well trained in the features and benefits of our products, including competitive differentiation.</li> <li>Build relationships with key insurance departments and legislators to facilitate rate revision approvals and prevent unfavorable legislation from becoming law or statute.</li> <li>Develop state specific product business requirements to be used by PAS development team.&nbsp; Ensure state specific elements of all rate revisions/PAS releases are of high quality and performing as designed (validate each release).</li> <li>Maintain a comprehensive Product Guide for products in each state, updating accordingly for all rate revisions.</li> <li>Monitor competitor activities and provide Market Development teams with selling tips for agents to utilize against specific top competitors.</li> <li>Maintain policy contract that is consistent with other documents/guidelines and reflects feedback from Claims regarding language improvements. &nbsp; &nbsp;</li> </ul> <p>&nbsp;&nbsp;</p> <p>&nbsp;</p> <p>&nbsp;</p>
Requirements: <p><u>Requirements</u></p> <ul> <li>Strategic thinker and hands-on contributor.&nbsp; Expert knowledge of all products, end-to-end, with passion for achieving results.</li> <li>Deep knowledge of the P&amp;C industry, competitors, insurance product pricing, financial drivers of profitability; comprehensive understanding of legislative and Department of Insurance regulations</li> <li>Strong relationship, negotiation, influencing and persuasive skills</li> <li>Collaboration and teamwork with other functions at the executive and management level</li> <li>Well-developed oral and written communication skills; comfortable speaking in front of large and small groups</li> <li>Flexibility and capacity to manage multiple demands</li> <li>Consultative leadership style; strong organizational skills, problem solving and analytical skills</li> </ul> <p>&nbsp;</p> <p><u>Education, Work Experience, Licenses &amp; Certifications</u></p> <p>Required</p> <ul> <li>MBA or equivalent graduate degree from top tier school with strong academic performance</li> <li>At least 5 years of progressively more responsible assignments within the P&amp;C industry; 8-10 years overall work experience</li> <li>Successful, verifiable track record of managing state product performance for auto, property, or both</li> </ul> <p>Beneficial:</p> <ul> <li>Management consulting experience</li> <li>Technical undergraduate degree</li> <li>Leadership training</li> <li>CPCU or similar certification</li> </ul>