CL Product Manager (Commercial Lines)

Frankenmuth Insurance is seeking a CL Product Manager to coordinate the results of the line of business while driving top and bottom line results. The role involves managing a portfolio of products, supporting development and communication of pricing and underwriting strategies, and ensuring regulatory compliance.

Responsibilities:

• Accountable for P&L results of the assigned LOB by:
• Prepares analysis and business recommendations based on in-depth reviews of new and renewal production, loss performance, and rate trends and reports to key stakeholders on LOB and product performance
• Measures performance of products compared to strategies, goals and metrics
• Monitors price competitiveness in the market and works with Actuarial on pricing and predictive modeling adjustments
• Collaborates with LOB underwriting representative on underwriting authority for the LOB
• Collaborates with Regions, Underwriting, Claims, Actuarial, Legal, and Regulatory to maintain the highest standards of product line profitability, marketability and regulatory compliance
• Develops key strategic approach to the LOB from an underwriting and product perspective, including:
• Provides recommended direction to Senior Management to balance growth, risk, and profitability
• Drives product positioning and development efforts including segment expansions, coverage enhancements, underwriting strategies
• Identifies product growth opportunities and creates strong business cases for product and pricing changes, including:
• Maintains communication with and solicits input from key stakeholders, including underwriting, marketing, agents and policyholders
• Monitors and evaluates insurance industry product developments and trends
• Develops business case to implement new initiatives
• Provides consultative and/or technical support regarding significant product issues affecting the LOB
• Leads product and segment development initiatives, including:
• Works with key stakeholders to assess and prioritize product development projects
• Develops project plans and business requirements
• Leads product development and enhancement projects, including the development of coverage language
• Utilizes current methodologies to develop, launch, and retire products, including agile, waterfall and the product lifecycle process
• Assesses performance of product changes and new products against established goals and metrics
• Monitors, analyzes and evaluates state regulatory and legislative changes that may impact product performance, including:
• Ensures that product rates, rules, forms and underwriting, and business practices are in compliance with state laws
• Coordinates rate, rule and form changes
• Communicates with regulatory agency representatives
• Leads corporate initiatives such as state expansions and others as needed
• Provide input and recommendations regarding marketing and sales strategy, plans and materials
• Performs other duties as assigned

Requirements:

• Bachelor's degree (B.A.) from four-year college or university; or four to six years related experience and/or training; or equivalent combination of education and experience
• Ability to work legally in the United States. No visa sponsorship/support is available for this position, including for any type of U.S. permanent residency (green card) process
• Insurance certifications preferred
• Advanced insurance industry knowledge preferred