Insurance Product Manager (California Property) - Remote USA in Remote, California at Pacific Specialty Insurance Company

About Pacific Specialty Insurance Company (PSIC)

At Pacific Specialty Insurance Company (PSIC), we approach things a bit differently and have for over 27 years. We warmly welcome each new employee to our work family. Family is one of PSIC’s Core values therefore, we treat our employees with appreciation and respect, while providing the much-needed flexibility in their day. We understand this is paramount in today’s workforce. Our Core values of Family, Home, Trust and Profitability are what drives our daily decisions. We strive to foster a culture where all employees feel a sense of belonging and are encouraged to come up with ideas to help us improve as an organization. We provide the tools to help you succeed. Pacific Specialty Insurance Company is a large regional carrier in California, but consistently writes business in 4 other states as well.

The Product Manager directs the development of new products and the enhancement of existing products to include the construction of appropriate policy language and forms, required coverages, recognition of potential exposures, and necessary rating structure. Experience in the P & C insurance industry is a must.

Duties and Responsibilities:

• Coordinates the design, rating and development of new and enhanced products for targeted lines of business.
• Work with others in the Company to implement products to meet growth and profitability targets. Evaluates, audits, and participates in data research and statistical analysis to solve problems.
• Supports strategy to research, design, and develop new insurance products to achieve profitable growth.
• Partners with the Senior Actuary to assess the product and determine next steps.
• Monitoring and changing impacted ZIP codes which pose geographical risk.
• Resolve state objections and questions on filings (e.g., CAHO3 forms).
• Responsible for researching, updating, and managing all policy contracts, endorsements, underwriting guidelines, and regulatory filings.
• Monitor ongoing wildfire activity to issue underwriting moratoriums for impacted ZIP codes.
• Partner with reinsurance brokers biannually, delivering precise risk modeling data.
• Prepare and submit program guidelines, rate increases, and supporting data analysis to state insurance departments.
• Fulfill state data calls by providing detailed product and premium metrics for comparison to industry average.
• Partner with IT to test and validate functional changes within the Duck Creek platform.
• Participate actively in the Compliance Committee with the General Counsel to review regulatory alerts, assess corporate impact, and verify that operational policies satisfy all state insurance mandate.
• Manages relationship of every aspect of assigned product through interaction with relevant departments such as Claims, Underwriting, Sales/Marketing, Customer Service, and outside contracts (agents, regulators, and industry groups).
• Develops action plans and strategic direction for functional areas and maintains alignment to ensure successful development of the entire product line.
• Analyzes assigned product performance to identify issues and opportunities.
• Prepares fundamental analyses of product performance.?
• Research new ideas to improve product offerings.
• Works independently with general guidance and direction from management.
• Participates in discussions with colleagues regarding analysis needs.
• Tests updated rating models against existing ones to determine accuracy.
• Prepares advanced reports, graphs and charts based on research and analyses.
• Provides suggestions for process improvements and/or goal changes.
• Develops and designs presentations to show findings of analyses.?
• Reviews and discusses analyses with team members and Executive’s as necessary.
• Prepares forecasts and identifies trends.
• Participate in management meetings to present findings and recommendations.
• Supports projects by applying general knowledge of the business area processes, including best practices.
• Develops spreadsheets and tools for management use.
• Serves as a contact for basic reporting needs/issues regarding various data.
• Participates in the formation of business plans and forecasts.

The Ideal Candidate will have the following:

· Experience in the P&C Insurance industry is a must

· A Bachelor's or Master's Degree in an analytical concentration, such as math, statistics, economics, finance, quantitative research, etc.

· At least 5 years of product development experience; or equivalent combination of education and experience.

· Previous experience in leading a staff through product management is preferred.

· Good analytical and quantitative skills required.

· Track record of demonstrated creativity in pricing and/or product development.

· Good critical thinking and problem solving skills.

· Statistical modeling experience preferred.

· Ability to review typical product development issues and develop solutions.

· Must have initiative and be a self-starter.

· Must have good interpersonal skills and be able to build commitment to decisions.

· Proficiency in SAS and/or other statistical software Preferred (not required).

· Strong written and verbal communication skills required.

· Requires the ability to effectively present recommendations and solutions to all levels within the organization in a clear manner.

· Possess technical knowledge and skills regarding product and industry, reflective of successful progression through various job family levels within the Property & Casualty Insurance industry.

· In-depth technical knowledge of personal lines insurance industry products and services, philosophy and best practices and the ability to apply such knowledge in a strategic capacity.

· Excellent written and verbal communication skills to correspond with management, internal and external customers.

· Requires the regular exercise of independent judgment to make moderately complex decisions beyond the scope of the established Company guidelines and parameters.

· Intermediate-level skills in MS Excel or MS Access required.?

Our Benefits - Protection is the name of the game in the insurance industry, and we believe in benefit plans that offer protection to our employees for medical, dental, vision, life, disability, and retirement plans. Our 401k plan and company match are second to none. The company will make a matching contribution equal to 60% of your qualified salary deferral contribution!

All qualified applicants for employment will be considered without regard to an individual’s race, color, sex, gender identity, gender expression, religion, age, national origin or ancestry, citizenship, physical or mental disability, medical condition, family care status, marital status, domestic partner status, sexual orientation, genetic information, military or veteran status, or any other basis protected by federal, state, or local laws. Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records. Qualified applicants with arrest or conviction records will be considered for employment in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.

Pacific Specialty Insurance Company is a member of the McGraw Group of Affiliated Companies Pacific Specialty Insurance Company is an equal opportunity employer.