Product Manager

Overview:

The product manager will be responsible for partnering with the Pricing Manager, Marketing Manager and the Customer Service organization to manage the overall profitability and growth of the automobile program for several states/regional assignments. To achieve profitability and growth, the product manager will adapt the standard product design to conform with the state(s) requirements and market conditions, define eligibility and underwriting rules, collaborate in the process of setting adequate rates, and collaborate in the establishment of a retention strategy within this context.
The PM will have broad responsibility in assistant managing insurance product life cycles across multi-state market by assessing and responding to regulatory changes, developing competitive products through competitor and industry benchmarking, serving as product expert in supporting business development and marketing initiatives, and reporting on state and book of business trends to remain abreast of emerging market opportunities.

Responsibilities:

• Work with the pricing, marketing and executive teams to develop state(s) profit and growth strategies including product positioning and marketing approach.
• Work with the pricing team to make rate and trend selections to meet profitability goals. Coordinate the rate revision schedule with the systems integration team and field organizations (Customer Service and Agent Partners).
• Assist in the development of a strong Product Management team with a compliment of filing, product, regulatory and analytical talent. In addition, leveraging resources within Esurance and the product management department will be essential to optimizing productivity and expertise.
• Make fact-based strategic decisions based upon knowledge of the market, which includes competitors, regulatory and legal environment, claims handling trend, and distribution channel/agent relationships.
• Work with the regulatory/filing/compliance unit to respond to the department of insurance for rate filings and market conduct exams and serves as a consultant on consumer complaints and other interactions.
• Have a thorough understanding of competitors and alternative markets within each environment.
• Ability to articulate financial results and impact of tactics/strategy to senior management.
• Develop and maintain relationships with state regulators by attending regulatory meetings (i.e. IRES, and SERA), daily phone contacts, insurance department visits and participation in industry group meetings.

In short, these are very "hands-on" product management roles, even in their most senior form where the individual will serve as a "player/coach" rather than as simply an overseer/manager. The product managers will be the key set of "eyes & ears" to their marketplace, and by driving towards an ideal approach of "dynamic forecasting", strive to adapt Esurance methods and product offering in anticipation of the constantly changing needs of the marketplace.

Qualifications:

• Requires a Bachelors degree preferably in Business or Marketing
• MBA or equivalent training or work experience preferred
• 2+ years project/product management experience in an insurance company
• The ideal candidate will possess a minimum of 1+ years of experience in various disciplines within the property & casualty industry
• Marketing and Internet-related experience is ideal
• Apply statistical and financial analysis to the planning, post auditing and forecasting processes
• Dissect and manage data at a cellular level to optimize risk selection, market segmentation and competitive position
• Versatile and apply critical thinking skills to identify key levers and priorities for large amounts of information
• Ability to balance quantitative analysis with competitor behaviors within the marketplace
• Maximize the resources of the regional team; motivate, develop and provide training
• Attract, develop and retain best in class talent who are self-driven, energized by learning and change, and keenly focused on the mission
• Manage by "influence" as opposed to by directive only, so as to mobilize resources in those areas not directly accountable
• Thrive in a highly team-oriented, collaborative and results-based meritocracy geared towards always "raising the bar" and operating with the strong sense of urgency typical of a public company setting
• Must be able to set/change tactics as a response to business priorities and/or market influences
• Must be able to see the big picture and drive analytically toward the bigger goals
• Demonstrated initiative, self-starter, with strong analytical and problem solving skills
• Comprehensive knowledge of personal lines insurance industry, products and features, competition and competitive market conditions
• Consistently demonstrated qualities of diplomacy, problem solving and decisiveness
• Excellent leadership, coaching, project management and mentoring skills
• Ability to accomplish goals through influence management and motivation; collaborate with various departments and company members
• Line of business expert with ability to develop underwriting, production, and pricing strategies
• Strong organizational, written and verbal communication, and proven analytical problem solving skills
• Ability to design and deliver technical training programs to support staff
• Microsoft office products (Excel, PowerPoint, Access, Project)



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