This job was posted by https://illinoisjoblink.illinois.gov : For more
information, please see:
https://illinoisjoblink.illinois.gov/jobs/11903276 This position is
responsible for new market development, new product development and
existing product enhancements from a Commercial General Liability
technical underwriting perspective. This position serves as a commercial
General Liability technical underwriting expert in a commercial
multi-line environment and will be involved with supporting the goals
and implementing best practices for all operating units and the
Enterprise as a whole. This position exercises broad discretion and
judgment and provides enterprise-wide operational consistency, integrity
and oversight. This position performs work in support of multiple
initiatives, lines of business relating to General Liability and/or
products. This position manages highly complex business processes and/or
improvement efforts across multiple departments. This position is an
individual contributor role.
RESPONSIBILITIES/TASKS:
- Leads the development of new products for the Liability line of
business to enable the profitable growth of the line.
- Manage accumulation exposures across the US to ensure adequate
spread of risk.
- Assists in aggressively identifying, solving and managing /
re-directing problem markets.
- Analyzes current and potential book of business and provides
appropriate recommendations for growth and/or improvement.
- Assists in the development, implementation, and monitoring of
enterprise underwriting policies, procedures, workflows, and best
practices.
- Identifies and establishes strategy for quality control to ensure
consistency with best practices and workflows; performs Second Line
of Defense Audits to ensure established Underwriting Guidelines,
processes, and compliance needs are met.
- Collaborate with the Reinsurance team to provide guidance and
insight to the book of business.
- Identify Emerging Issues relating to Liability and make
recommendations to manage those risks for the enterprise.
- Participates in the identification, preparation and presentation of
training and programs at an Operating Unit and Enterprise level.
- Serves as a technical subject matter expert and consultant in
Corporate Underwriting, determining pricing, programs, and analyzing
accounts above authority limits or referrals from elsewhere in
corporate underwriting and from operation unit managers or
underwriters
- Collaborates with enterprise operating units and Corporate
Underwriting in furtherance of enterprise cost containment
strategies as necessary.
- Identifies third party vendors/capabilities to deliver innovations
within the Liability segment to enable effective Risk Selection and
Pricing for New Business and Renewals by the Underwriting teams.
- Conducts underwriting due diligence on new Programs in the
alternative market/specialty programs space, and other assignments,
as needed.
- Performs special projects, as assigned. Provides evaluation and
input regarding effectiveness of departmental programs and projects.
- Leads the research, analysis and implementation of new or existing
product ideas, market development, and product enhancements,
including creating supporting business cases, designing solutions,
and implementing innovative products for Commercial Liability lines
of insurance.
- Evaluates the cost benefit of market opportunities and product
initiatives and recommends actions based on evaluation, including
identifying product improvements for complex product and policy
construction considerations.
- Develop new product ideas, review existing and drafts new coverage
language, and executes to the Product Development Life Cycle.
- Responsible for creating best practices, underwriting g idance and
training to engage enterprise.
- Maintains Expert knowledge including state regulations, compliance,
coverages, operational processes, underwriting criteria and system
application and tools.
- Research and approve complex updates and changes to ISO Recommend
actions based on regulatory changes.
- In collaboration with Corporate Underwriting Line of Business owner,
develops underwriting guidelines and letters of authority, for new
programs / products within the Commercial Property arena.
- Works with third party vendors (ISO, Financial Reporting vendors,
etc.), and manages consultant relationships with our internal
partners to integrate product needs based on market, product and
technical requirements.
Additional Responsibilities for the Senior Product Manager:
Assists in new market development, including creating supporting
business cases, drafting white papers and acting as a liaison to
departments involved in new market development for Commercial Liability.
Understands complex reinsurance structures.
Conduct full policy wording reviews for New Business and Renewals to
ensure compliance with underwriting guidelines and AF Group Underwriting
appetite.
Serves as owner for drafting, developing and implementing new products
or organizational practices specific to the product.
Develops underwriting guidelines and letters of authority, for new
programs / products within the liability arena - in conjunction with
workers compens