Job Summary

The Director of Product Management is a strategic leadership role responsible for supporting the continuous improvement, growth and loss ratio of ISC’s insurance program portfolio.  The role requires a deep understanding of commercial lines insurance rating plans, underwriting procedures and systems, and policy, premium and loss data.  The Director will lead a team of product managers in collaborating with Business Unit leaders to monitor program portfolios, ensure adequate rates and improve pricing segmentation.  The Director will work cross-functionally with ISC’s technology, data science, operations and project management teams to improve data and promote automation.

Position Responsibilities

• Lead and mentor ISC’s team of product managers assigned to support the various business units, fostering an environment of collaboration, data-driven decision-making, and continuous improvement.  Embody, model and promote the ISC ownership behaviors.
• Product Strategy. Develop and maintain a product strategy and product & underwriting road map for key lines of business in conjunction with Business Unit leaders.
• Program management. Directly manage the programs associated with one or two business units, performing all essential product management functions.
• KPI and Performance Management. Define, measure and monitor key product performance measures for all programs.  Provide actionable insights and recommendations for improvement.
• Pricing and loss ratio management. Collaborate with the business unit leaders to evaluate price adequacy, manual and discretionary pricing, and price segmentation to deliver target loss ratios.  Manage the rating plans to blend advisory loss costs, proprietary rating and underwriter discretionary pricing.
• Data integrity. Serve as a subject matter expert for policy and risk-based data necessary to evaluate program portfolios, rate adequacy and loss ratios.  Collaborate with Business Unit leaders, data science, and engineering colleagues to ensure data are properly captured, stored and reported.
• Collaborate with BU Leaders and ISC Engineering and Project Management Office to evaluate opportunities to improve underwriting automation and data collection.
• Analytical advancements. Identify and evaluate third-party data services for use in pricing, underwriting and automation.  Participate in advanced analytics research as business side subject matter expert and lead the incorporation of analytical innovations into the programs.
• Risk partner communications. Actively participate in the development and preparation of analyses, exhibits and materials to support on-going communications with carrier and reinsurer partners.  Lead the presentation of product performance materials to partners.  Collaborate with data scientists and product analysts to prepare data and exhibits for reinsurance submissions.
• Competitive analysis. Collaborate with BU leaders and ISC Business Development colleagues to obtain relevant competitive intelligence and develop actionable insights to support pricing and product features and coverage grants.

Minimum Qualifications

• Ten-plus years of increasing responsibility as an insurance product analyst, product manager, product director with a US Property Casualty insurance carrier or MGA.
• 5+ years Supervisory or people leadership experience
• Demonstrated experience working cross-functionally with all aspects of insurance products, including actuarial analysis, underwriting, compliance, policy language and claims.
• Bachelors degree in a quantitative discipline – finance, economics, mathematics, computer science, physics, etc.
• Proficiency in data analysis tools and software including Excel, SQL, Power BI.

Preferred Qualifications

• Commercial Lines experience
• MBA or equivalent
• CPCU or actuarial exams

Role Progression

This role presents the opportunity to grow into the AVP or VP level.