Job Description:

 The Product Manager is responsible for evaluating, analyzing, developing products and establishing prices, implementation and maintenance of Personal Lines programs to achieve production and profitability.  Provides technical support, educational materials, training for products and programs and auditing field underwriting performance.  

This position may be filled at the Sr. Product Manager - Personal Lines level.

ESSENTIAL DUTIES AND RESPONSIBILITIES

 

Keeps abreast of market and industry developments through industry publications, agency interviews, discussions with field personnel, reviews of field results and network contacts including participation in trade organization meetings and seminars. 

 

Monitors performance of assigned states, loss ratios, demographics, market and industry trends, legislative and regulatory activities etc. to anticipate problems and proactively design corrective actions to address profitability issues and develop innovative resolutions to enhance products, profitability and goals.

 

Continuously refines product strategy through the timely creation of new and improved coverage offerings, underwriting guidelines, and pricing that ensure Personal Lines Product Portfolios remain competitive in marketplace for their assigned states to support production and profitability goals.

 

Continue to ensure that Personal Lines Product Portfolios (coverage, underwriting, and pricing) remain in compliance with new laws, bulletins, and bureau mandates for their assigned states.

 

Performs thorough competitive analyses to identify and implement new pricing opportunities that support production and profitability goals. 

 

Utilizes predictive modeling analyses to improve product pricing and reduce rate subsidization to support production and profitability goals. 

 

Coordinates the rate review process for assigned states to ensure timely implementation of rate changes that reflect personal lines strategic direction to support production and profitability goals.  

 

Serves as liaison to regulatory bodies for changes to state regulations by rate bureaus/regulatory bodies and vendors for implementation/revision of new products and services.

 

Prepare communication to agencies and internal staff regarding product changes.

 

Provides technical support for products, programs and pricing develops trends and project problems.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.

Why Penn National Insurance

• A career with Penn National Insurance offers a total rewards package that makes us a regional employer of choice.  When you are part of the Penn National Insurance family, we want you to feel secure in:

• Your Career: We offer a comprehensive benefit and compensation package including a generous 401k match, graded profit sharing, recognition programs, and incentive compensation.  Additionally, Penn National Insurance company policy provides for remote access, flex-scheduling, and a dress-for-your-day dress code. 

• Your Employer: Penn National Insurance celebrated its 100th anniversary in 2019.  With the $1 billion direct written premium threshold in sight, the company is utilizing innovation solutions and analytic insights to grow its share of the small commercial and middle market business, as well as personal lines.  Our proud tradition of adhering to a relationship-driven business model, and our ability to adapt to changes over time reinforce our reliability and strength.

• Your Community: The Company and our employees donate more than $500,000 annually to fund enrichment programing throughout the communities we serve.  Our United Way campaign raised an additional $350,000 last year.  We are also taking real steps to decrease our environmental impact.  We have added bicycle accommodations, enhanced energy efficiency, introduced water conservation measures, and implemented cool-roof technology.

• Your Future: We create a rewarding career path and enable long-term retention by offering enhanced benefits around continuing education and professional development.  The average employee tenure at Penn National Insurance is 14 years! 

QUALIFICATIONS

 

Education/Credentials:

 

Bachelor and/or Advanced degree in Mathematics, Statistics, Economics, or Finance preferred.

 

Multiple CPCU exams or equivalent industry experience preferred.

 

Experience:

2 years of personal lines pricing or underwriting preferred.

 

Strong working knowledge of PC, Excel, Access, and Comparative Rater software.

 

General data mining and analysis.

 

Knowledge of the property and casualty industry to include, insurance coverages, competition and legislative environment to provide growth and profitability opportunities for the company. 

 

Knowledge of ratemaking procedures and pricing structure.

 

Strong listening and communication skills to influence negotiate with individuals internal and external to the company.

JOB REQUIREMENTS (as required by ADA)

 

This position is primarily a sedentary position that requires occasional standing and walking throughout the office environment.

 

Ability to hear and communicate via the telephone and/or monitoring devices to both internal and external clients.

 

Ability to maintain acceptable attendance and adhere to scheduled work hours.

 

Ability to interpret, develop and apply concepts based on assigned initiatives.

 

Must be able to operate a computer, keyboard, applicable printers and other general office equipment.

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