Product Manager I

About this role

Company Farm Family Farm Family specializes in farm and ranch protection with a wide range of products including flexible farm packages, business owner policies, commercial package, workers compensation, commercial auto and select personal auto coverage. Farm Family is a leader in serving the Northeast and Mid-Atlantic markets and is pursuing growth across the U.S. The Farm Family entities are wholly-owned subsidiaries of Clearbrook Group Holdings Inc.

Job Description

The Product Manager I   is responsible for   the growth and profitability for either the LOB or Region they are assigned with minimal oversight from the Leader of Product Management. They work closely with the regional team and internal business partners to   identify   and execute growth   & profitability   initiatives .    This position will work closely with the Senior Product Manager and/or leader of Product Management to develop and execute that strategy .    They are seen as   the primary   decision   maker   and are considered   a valuable member   of the organization .       

This is a 100%   in -office position. Candidates must be able to work on-site at a designated company office during standard business hours.    

Essential Responsibilities :  

• Accountable for the growth and profitability for assigned LOB or Region, including YoY growth targets, achieving our rate plan, and proactively   identifying   and addressing key concerns .    Provides monitoring and surveillance of key initiatives and   to monitors   progress and success .    Elevates concerns and proposed solutions to Director/AVP of Product.   

• Works with leadership to   identify   potential vendors that could offer value-added services to the organization .    

• Responsible for   identifying   new focus markets and works collaboratively to develop a comprehensive strategy to profitably grow our markets. This position will work closely with Underwriting and Marketing to better understand our client needs and is a valuable resource on market and product knowledge.  

• Helps develop product management team by cultivating a culture where ideas are welcomed and shared .    Actively engages   team   and   assists   other product managers when needed.  

• Reviews pricing, design features, and associated critical success factors such as distribution, marketing, underwriting and claims to make recommendations on all the above .    Works collaboratively across divisions to incorporate   expertise   and knowledge into a holistic strategy for achieving company success.  

Additional Responsibilities:  

• Works closely with other areas and IT to   determine   project prioritization and implementation.   

• Provides guidance to all functional   areas as   related to product design and management. Makes recommendations based on in-depth   functional   and regional knowledge and opportunities for   improvement.  

• Utilizes   industry reporting tools to   provide   competitor insight, market share and performance within a region or line of business to senior leadership team.  

• Works closely with   Business   Intelligence team, develops standardized monthly reports for specified region and/or line of business to measure and   monitor   performance of growth and profitability and product development   initiatives.  

• Makes recommendations for   development   of product enhancements based on competitor, field, and client feedback.  

• Works with marketing to   identify   areas of focus and opportunity .    Develops plan, inclusive of market research and analysis, to   assist   in prospecting initiatives, marketing campaigns, and branding .    Supports marketing in the development of marketing collateral (both agent and client facing).  

• Manages strategies related to multiple product profitability objectives .    Work cross-functionally with Underwriting, Claims, and agencies to   identify   loss drivers and implement mitigation strategies.   

• Works collaboratively on coordination and implementation of new products and product changes. Spearheads product   related   internal and external training and education.   

• Guides the process implementing new tools and technology to enhance product performance with a focus on Innovation. Validates and confirms effective execution of pricing and product initiatives .    

• Leads and coordinates critical internal processes including Growth and Profitability calls and Operational Reviews.   

• Leads and coordinates the Product Development process.   

• Leads cross-functional strategy teams and works closely with the Regional Field Executives to execute that strategy.  

• Solid understanding of all Property and Casualty lines of business offered. Specific   expertise   based on assigned LOB or Region .    

• Works closely with Project Management Organization to build project charters and develop execution plans for product enhancements and new product offerings.   

• Works with Regional Field Executives and Actuarial to develop annual growth plans by   agent , MLGA, state, region, and line of   business.  

• Works closely with Project Management Organization, CTS Management, and Business Analysts to build annual line of business maintenance schedules for rate and regulatory changes.   

• Works closely with Project Management Organization and CTS Management to   identify   and implement technology enhancements within the annual business   plan.  

• Develops annual business plan for assigned lines of business or Region including product development projects, Growth & Profitability actions, and regulatory changes.  

Qualifications / Experience Required:  

• Bachelor's degree.   

• Four to six   years   industry experience.  

• Supervisory/management experience   not   applicable.   

• One year of   previous   Product Management experience or minimum of four years underwriting, actuarial, or other industry experience.  

• Basic understanding of Property and Casualty Insurance Products  

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