This position will take on key leadership responsibilities in the development and execution of countrywide strategies that influence the overall profitability, growth and retention of the Businessowners Policy and Package products. This position is accountable for ensuring Product Management resources are aligned to drive countrywide and regional strategies through deep understanding of insights from internal and external data, market intelligence and feedback from business partners. The role requires broad and consistent partnership with other functional disciplines within the organization to influence and drive outcomes, particularly with Actuarial Pricing. Data Science, and Compliance. The role has accountability for the development and deployment of countrywide line of business strategies, P&L management, product design, underwriting guidance and rate management.
· Develop and implement short- and long-term product strategies that drive financial results for assigned line of business in partnership with regional leaders
· Lead the ongoing management and expansion of pricing sophistication, product capabilities and underwriting appetite in assigned line of business
· Drive and lead enhancements to existing products and development of new products, including pricing strategies, segmentation enhancements, DOI filing implications, ISO interactions, interactions with UW rules and internal execution
· Post-Monitor new products at granular level to optimize flow, competitiveness, and relative pricing
· Monitor line of business results and react quickly and effectively to growth and profit challenges.
· Lead the development of new or revised underwriting positions and appetite
· Drive a deep understanding of marketplace insights, competitive intelligence and regulatory issues to inform solutions (product, rate/price, appetite)
· Develop and implement monitoring standards to assess product results such as profitability analysis, mix management, rule analysis, initiative post-monitoring, claims trends, etc. to understand root cause and recommend corrective actions.
· Through collaboration with Regional Vice Presidents, ensure countrywide strategies align with regional deliverables.
· Understand changing customer & distribution requirements.
· Respond to claims operational metrics & signals with appropriate feedback loops
· Using data, assess appetite inconsistencies across regions and determine root causes of outcomes; develop and implement plans to address.
· Perform long-term strategic planning, particularly around multi-line underwriting
· Develop and implement claims/underwriting/product roundtables to identify emerging risks and tort trends; facilitate creation of UW action plans to address.
· Bachelor’s degree required; MBA or other related graduate level degree preferred
· 10+ years Commercial P&C insurance industry underwriting, actuary, claim and/or product development experience, ideally with deep experience in Small Commercial.
· Underwriting acumen and discipline, technical knowledge, and a depth of specialized experience sophisticated product/pricing environments.
· Sound financial acumen, understanding of P&L, knowledge and experience with setting and driving an operating plan; track record of setting goals and delivering results
· Superior analytical & problem-solving skills, including the ability to encourage new ways of looking at problems, processes, and solutions, develop sound recommendations, and generate new ideas for profitable growth, including new product ideas, markets, and target customers
· Expert understanding of property and casualty insurance products, pricing models, systems, underwriting, claims, distribution channels, regulatory
· Intermediate knowledge of Microsoft office products (Excel, Word, PowerPoint) required.
AmTrust Financial Services offers a competitive compensation package and excellent career advancement opportunities. Our benefits include: Medical & Dental Plans, Life Insurance, including eligible spouses & children, Health Care Flexible Spending, Dependent Care, 401k Savings Plans, Paid Time Off.
AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race, ethnicity, gender, sexual orientation, culture, religion or disabilities.
AmTrust values excellence and recognizes that by embracing the diverse backgrounds, skills, and perspectives of its workforce, it will sustain a competitive advantage and remain an employer of choice. Diversity is a business imperative, enabling us to attract, retain and develop the best talent available. We see diversity as more than just policies and practices. It is an integral part of who we are as a company, how we operate and how we see our future.
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