| Product Development Director |
Job Id: W280575 |
Posted On: 1/4/2010 |
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Location: Richmond, VA;
Job Type: Full Time
Salary: $135000.00 to $200000.00/year
Degree: Bachelor
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Description
Title: Product Development Director
Department: Product Line Exec G&A
Location: VA
Requirements:
Job Summary:
Our Client is seeking a commercial insurance product development expert with proven success in the admitted and non-admitted marketplaces. The position is responsible for the process of product development from idea origination through deployment, actively guiding the product through the development cycle. Must possess a broad comprehension if the following areas: multi-channel commercial insurance distribution, underwriting, claims, rates, forms, marketing, and operational interfaces. Creativity and innovation are key components to this strategic, multifaceted, senior-level position.
Responsibilities:
Coordinates, manages and communicates the new product development process with senior and functional levels of the company; to include idea generation, screening, concept development, testing, analysis, implementation, marketing and product launch.
Continually derives creative, original product ideas that will greatly enhance the Client product portfolio.
Conducts research and analysis on competitor products, market needs and trends, as well as emerging issues in commercial lines insurance products.
Develops products and underwriting/pricing guidelines and strategies to grow profitable niches.
Works closely with compliance experts in regard to policy language, rules, endorsements, rates and rating systems, as well as regulatory issues and their impact on commercial lines product distribution.
Ensures that plans and decisions are implemented in the most effective manner possible.
Key Competencies:
Product/business development orientation a strong fluency in the areas of innovation, idea generation and product development, with demonstrated experience managing organizational relationships and new business opportunities.
Strategic thinking, marketing and creativity highly developed skills to support Client globally and to identify and develop potential avenues for expanding our product offerings. Must use a considered and pragmatic approach in order to optimize both short-term and long-term results.
Financial analysis and project management skills - technical abilities to analyze the value to Client of proposed new business opportunities. Must be able to lead the effective execution of the product development cycle to ensure timely decision making and product delivery.
Impact and influence - must be comfortable and skilled at working in an open matrix management structure. The successful candidate will work at implementation strategy with people that do not report to him/her. Will work in partnership with other senior leaders and lead a matrixed team.
Education and Skills:
Fifteen years of underwriting and/or product development experience in a wholesale, retail and direct to consumer marketplace;
An undergraduate degree is required. Additionally, professional training or certification in the insurance industry will be highly desirable (CPCU).
Must possess the strategic orientation to capitalize on an outstanding brand.
Proven track record of strong leadership, hands-on execution skills, as well as presentation skills.
Must have created value through profitable underwriting results and/or product development. The candidate selected must have demonstrated success in the recommendation of product development, underwriting policy, strategies, and resources necessary to support the goals of the business.
Must have strong written and oral communication skills; must be able to strongly influence others; be persuasive and yet a good listener and assimilator of ideas and perspectives.
Must be decisive, able to implement change, and be an advocate of the use of technology to advance product development results.
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