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Director of Product Management
at Plymouth Rock Assurance in Massachusetts
The Plymouth Rock Group of Companies writes and manages more than $1 billion in personal and commercial auto and homeowner’s insurance across the Northeast and New Jersey. We pride ourselves on setting standards of service excellence in dealings with customers, agents and our employees that are difficult for others in the industry to match. Plymouth Rock is recruiting a Product Manager (PM) that will function at both the strategic and operational level in order to facilitate growth, maintaining underwriting discipline and achieve aggressive financial objectives
Along with the VP of Product Management, the Product Manager has P&L responsibility for the Massachusetts (MA) Private Passenger Auto (PPA) business line. Various functional areas such as Legal and Regulatory, Marketing, Customer Service, Claims, and IT do not directly report to the PM, but the PM is expected to influence their activities as they pertain to MA PPA by defining standards, setting goals, and conveying a sense of urgency and intensity.
The PM's areas of responsibility are not strictly bounded; it is expected that the PM play a role in virtually all aspects of the product. The PM is expected (and allowed) to poke under any tent in the company. However, there are some responsibilities that the PM bears directly.
These include:
Product Design
With the VP of Product Management, the PM is responsible for product development, design and implementation to achieve profit and growth goals. This includes recommending all product features and endorsements, premium rate levels, discounts/surcharges, rating factors, relativities, underwriting approaches, etc. Drawing on resources from the product management staff and other groups within the Underwriting-Product Management department, the PM effectively composes and orchestrates the product filing for the Insurance Department. The PM provides specifications for the product to other departments such as IT, Claims, and Customer Service, and ensures that these specs are implemented The PM is responsible for gaining assistance and guidance from the Underwriting-Product Management department and other departments throughout Plymouth Rock Assurance.
The PM for MA PPA will also work with Bunker Hill Insurance Company to recommend homeowners insurance product features that support and facilitate the growth of whole account business (i.e., the sale of personal auto, homeowners insurance and umbrella insurance). In this regard the PM will work closely with Bunker Hill Insurance staff and fill a multi-line and cross-company role.
Filing & Regulatory Management
The PM will direct production of product filings and gain approval from the MA Department of Insurance. The PM is expected to be proficient and effective in the MA regulatory and legal environment. The PM will work with Plymouth Rock Assurance Chief Regulatory Counsel and serve as the point person with the regulators for all points related to product design, pricing, rate level, and underwriting. A critical aspect of the PM role is an effective working relationship with the state DOI at various levels.
Distribution Management
Partnering with Marketing, The PM will monitor the distribution of the product including agency appointments, performance measurement and management, remediation efforts and terminations and suggest improvements in that regard.
In addition the PM, partnering with resources from Customer Service/Operations and Agency Marketing, the PM will direct the agent underwriting review process.
The PM will also work with the company and enterprise Agency Interface (AI) and Consumer Interface (CI) managers to incorporate product design features designed to optimize growth and profits.
Competitive Analysis
The PM is responsible for all aspects of competitor analyses, including competitor strengths and weaknesses, general operating strategies, rate competitiveness, product design, etc.
Problem Resolution
The PM is responsible for resolving all significant problems affecting the volume or profitability of MA PPA, working with all internal departments as necessary to coordinate cross-functional approaches and resolution
Planning and Reporting
The PM is responsible for generating a product plan, updating the plan as required, and reporting progress against that plan. The plan should include a P&L projection, including premiums, losses, and expenses, as well as app count and feature count projections in order to support staffing plans for Customer Service and Claims.
The successful PM will have the following skills/attributes:
· Strong quantitative skills
· A proven record of success developing and implementing creative solutions for insurance pricing and product design challenges
· Knowledge of, and experience with, the technical aspects of insurance product pricing and rate indications
· Ability to direct, manage and mentor a staff
· Ability to influence and guide across departmental boundaries
· Strong written and oral communication skills
· Strong presentation skills
· Flexibility and resiliency characteristic of a mature professional
· Ability to manage, coordinate and facilitate multiple initiatives in a fast paced, dynamic environment.
· Must have a strong work ethic.
· A relentless focus on, and passion for, positive financial results and objectives
· Strong preference for an MBA or actuarial designation combined with practical business experience
The Plymouth Rock companies place a heavy emphasis upon quality of life and “goodness of fit”. We seek people who have a customer service orientation (i.e., who makes efforts to listen to and to understand both internal and external customers, anticipate customer needs, and give high priority to customer satisfaction), pay attention to the feelings and needs of others, and manifest a strong bias for action. We insist on the utmost integrity and probity. We offer highly competitive base salaries with an annual performance-based bonus, a very generous package of benefits, convenient access to public transportation and a thriving and stable workplace.
How to apply: DO NOT use the Apply Online button. Please copy and paste the following link into your browser address bar: http://prac.contacthr.com/15393788
Along with the VP of Product Management, the Product Manager has P&L responsibility for the Massachusetts (MA) Private Passenger Auto (PPA) business line. Various functional areas such as Legal and Regulatory, Marketing, Customer Service, Claims, and IT do not directly report to the PM, but the PM is expected to influence their activities as they pertain to MA PPA by defining standards, setting goals, and conveying a sense of urgency and intensity.
The PM's areas of responsibility are not strictly bounded; it is expected that the PM play a role in virtually all aspects of the product. The PM is expected (and allowed) to poke under any tent in the company. However, there are some responsibilities that the PM bears directly.
These include:
Product Design
With the VP of Product Management, the PM is responsible for product development, design and implementation to achieve profit and growth goals. This includes recommending all product features and endorsements, premium rate levels, discounts/surcharges, rating factors, relativities, underwriting approaches, etc. Drawing on resources from the product management staff and other groups within the Underwriting-Product Management department, the PM effectively composes and orchestrates the product filing for the Insurance Department. The PM provides specifications for the product to other departments such as IT, Claims, and Customer Service, and ensures that these specs are implemented The PM is responsible for gaining assistance and guidance from the Underwriting-Product Management department and other departments throughout Plymouth Rock Assurance.
The PM for MA PPA will also work with Bunker Hill Insurance Company to recommend homeowners insurance product features that support and facilitate the growth of whole account business (i.e., the sale of personal auto, homeowners insurance and umbrella insurance). In this regard the PM will work closely with Bunker Hill Insurance staff and fill a multi-line and cross-company role.
Filing & Regulatory Management
The PM will direct production of product filings and gain approval from the MA Department of Insurance. The PM is expected to be proficient and effective in the MA regulatory and legal environment. The PM will work with Plymouth Rock Assurance Chief Regulatory Counsel and serve as the point person with the regulators for all points related to product design, pricing, rate level, and underwriting. A critical aspect of the PM role is an effective working relationship with the state DOI at various levels.
Distribution Management
Partnering with Marketing, The PM will monitor the distribution of the product including agency appointments, performance measurement and management, remediation efforts and terminations and suggest improvements in that regard.
In addition the PM, partnering with resources from Customer Service/Operations and Agency Marketing, the PM will direct the agent underwriting review process.
The PM will also work with the company and enterprise Agency Interface (AI) and Consumer Interface (CI) managers to incorporate product design features designed to optimize growth and profits.
Competitive Analysis
The PM is responsible for all aspects of competitor analyses, including competitor strengths and weaknesses, general operating strategies, rate competitiveness, product design, etc.
Problem Resolution
The PM is responsible for resolving all significant problems affecting the volume or profitability of MA PPA, working with all internal departments as necessary to coordinate cross-functional approaches and resolution
Planning and Reporting
The PM is responsible for generating a product plan, updating the plan as required, and reporting progress against that plan. The plan should include a P&L projection, including premiums, losses, and expenses, as well as app count and feature count projections in order to support staffing plans for Customer Service and Claims.
The successful PM will have the following skills/attributes:
· Strong quantitative skills
· A proven record of success developing and implementing creative solutions for insurance pricing and product design challenges
· Knowledge of, and experience with, the technical aspects of insurance product pricing and rate indications
· Ability to direct, manage and mentor a staff
· Ability to influence and guide across departmental boundaries
· Strong written and oral communication skills
· Strong presentation skills
· Flexibility and resiliency characteristic of a mature professional
· Ability to manage, coordinate and facilitate multiple initiatives in a fast paced, dynamic environment.
· Must have a strong work ethic.
· A relentless focus on, and passion for, positive financial results and objectives
· Strong preference for an MBA or actuarial designation combined with practical business experience
The Plymouth Rock companies place a heavy emphasis upon quality of life and “goodness of fit”. We seek people who have a customer service orientation (i.e., who makes efforts to listen to and to understand both internal and external customers, anticipate customer needs, and give high priority to customer satisfaction), pay attention to the feelings and needs of others, and manifest a strong bias for action. We insist on the utmost integrity and probity. We offer highly competitive base salaries with an annual performance-based bonus, a very generous package of benefits, convenient access to public transportation and a thriving and stable workplace.
How to apply: DO NOT use the Apply Online button. Please copy and paste the following link into your browser address bar: http://prac.contacthr.com/15393788
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Published on Mar 09, 2010
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Viewed: 172 times
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