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PL Product Development Specialist 3 at Ohio Farmers Insurance Company

Posted in Other 30+ days ago.

Location: Westfield Center, Ohio

Job Description:

Build your future, while protecting theirs.

You will be challenged. Rewarded. And valued for your unique experience, background and perspective. Join a team where hard work pays off and original thinking is celebrated. As you build your future at Westfield, you will quickly learn that protecting our customer's future is at the heart of what we do. We deliver on our promise to help restore lives and rebuild businesses when the unexpected happens. Building relationships has been part of our culture since 1848.

PL Product DevelopmentSpecialist 3

Location: Westfield Center, OH Home Office or remote work within our operating territory.

Salary Range: $74,338 - $96,640

PL Product Development Specialist 3 Job Summary

Through collaboration with key stakeholders, the Personal Lines (PL) Product Development Specialist supports the successful implementation of rate and product changes, scripting of policy language, and acts as subject matter expert for their lines of business with regards to technical product knowledge and policy construction. Utilizes personal lines insurance knowledge in supporting PL Product Managers with technical aspects of drafting policy language and manual rules/guidelines. Manages product implementation activities by tracking product changes by state. Works with and supports PL Product Managers: manages the multi-state implementation of rule/form changes, develops business requirements for rate and product changes, and makes recommendations based on monitoring and review of industry circulars and bulletins. Responsible for educating and assisting the Underwriting and Claims departments on coverage and form changes. Serves as a peer mentor to less experienced PL Product Development Specialists.

Essential Functions (primary functions and/or reasons the job exists in order of importance)

  1. Supports PL Product Managers with technical aspects of scripting and development of policy language, statutory changes, changes to existing policy forms, new form and policy development, and manual rules/guidelines.

  2. Supports Product Managers through the multi-state implementation of rule/form changes in conjunction with the rate and product change schedule

  3. Supports PL Product Managers in the development and implementation of new product offerings

  4. Serves as the technical expert and primary resource for key stakeholders across the organization who have line of business related needs, questions, and suggestions, including contract language and policy construction expertise, including Underwriting, Claims, Legal, Actuarial, IT, Marketing Communications, WIC, Financial Reporting, and Internal Audit. .

  5. Serves as the liaison between business, actuarial and IT through the communication of business requirements for rate and product changes. Responsible for collaboration with IT in developing appropriate business requirements for product and rate changes. This role will also ensure proper communication and documentation of change specifications and will have authority for final sign-off of business requirements.

  6. Responsible for educating and assisting PL Underwriting and Claims departments on coverage and form changes.

  7. Accountable for overseeing the development of PL manuals including guidelines, rules and rate pages, and is responsible for maintaining their accuracy and currency.

  8. Responsible for overseeing the filing of product and rule changes, working with the PL Production Specialist in developing and submitting filings. This includes direct interaction with Departments of Insurance on filing questions and issues relative to filings.

  9. Monitors and tracks industry news and practices from a product perspective in order to identify and potentially act on current or future trends.

  10. Manages product implementation activities by tracking product changes by state.

  11. Performs initial screening of regulatory changes and determines what actions are necessary and makes recommendations to the PL Product Managers. Upon agreement, makes necessary rule/form changes.

  12. Monitors industry circulars/bulletins for possible product changes. Makes recommendations to PL Product Managers and assists with necessary rule/form changes.

  13. Helps with internal/external communications, policyholder listings, return premium checks, and mailing process in the production error process.

  14. Monitors PL Help Requests and assists in the formulation of responses.

  15. Serves as a peer mentor to less experienced Product Development Specialists.

Desired Qualifications/Experience/Certification/Education (in order of importance)

  1. 5 or more years' experience in Personal Lines insurance (e.g., underwriting, claims).

  2. 3 or more years in a product related role.

  3. Understanding of policy contract construction and insurance regulations gained through previous work experiences.

  4. Experience utilizing MS Excel for complex formulas and tasks (e.g. running queries, creating pivot tables, spreadsheets, charts, graphs).

  5. Experience working accurately with detailed information.

  6. Experience utilizing mapping software.

  7. Experience with and working knowledge of insurance metrics.

  8. Strong written, verbal, and interpersonal communication skills resulting in the ability to interact with employees and all levels of management, including ability to communicate technical industry information to professionals in non-insurance roles.

  9. Experience managing multiple assignments and activities utilizing excellent time management skills including the ability to prioritize workloads.

  10. Experience working collaboratively with other business units.

  11. Experience workig both independently and as a member of a team.

  12. Bachelor's degree or commensurate experience.

  13. Valid driver's license and a driving record that conforms to company standards.

Physical Requirements (specific to the role)

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

  • Ability to work effectively in an office environment for 40+ hours per week (including sitting, standing and working on a computer for extended periods of time).

  • Ability to communicate effectively in a collaborative work environment utilizing various technologies such as: telephone, computer, web, voice, teleconferencing, e-mail, etc.

  • Ability to travel as required.

  • Ability to operate an automobile within the parameters of the driving policy.

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.

We are an equal opportunity employer/minority/female/disability/protected veteran.