Product Manager, Commercial P&C

Hallmark Financial Services•Dallas, TX

About The Position

Business Unit Overview The Hallmark Commercial Insurance (HCI) business unit provides property and casualty insurance products for small and medium-sized businesses. Lines of Business currently offered across 16 states include Businessowners, Commercial Property, General Liability, Commercial Auto, Commercial Umbrella, EPLI, Cyber, and Commercial Inland Marine. Position Summary Broad responsibility for managing profitable growth of Commercial Insurance lines of business and states. Develop and implement multi-year strategic plans and implement processes related to financial planning, rate reviews, market development, and communication. Your work will include ongoing analysis and results monitoring to ensure alignment with company and business unit objectives. Lead product and pricing changes by utilizing actuarial, underwriting, policy services, marketing, claims, IT, and product development. Job Description Develop and implement a short- and long-term product plan that drives profitable growth, including premium, retention, and profit forecasts. Determine how to effectively implement strategic decisions through rate reviews, pricing, risk appetite, placement, timing, etc. Identify and analyze key financial outcomes, business mix, and industry data to create real business intelligence for informed decision-making. Review pricing, design features, and associated processes. Partner with underwriting to ensure risk appetite and guidelines align with product offering and corporate strategy. Assess internal processes and 3rd-party tools to enhance pricing accuracy, organizational efficiency, and expense management. Develop and delivers product training, as appropriate. Complete work within established time and service standards. May manage timelines and coordinate project work through others. Plan work to ensure rate review and other key processes are completed, ensuring speed to market. Proactively seek out opportunities to interact with other business partners while developing cross functional knowledge in claims, sales, marketing, pricing, operations, underwriting, and finance. Act as a mentor and subject-matter expert to business partners. Perform other duties as assigned. Hallmark Financial Services is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

Requirements

Bachelor’s degree in insurance, actuarial science, mathematics, risk management, economics, finance, accounting, business administration, or related field.
Four years of Property & Casualty product or underwriting experience with proven understanding of rate making fundamentals and data analysis techniques.
In-depth knowledge of analytical tools, core business functions, underwriting procedures and best practices, and performance measurement techniques.
Proven understanding of financial data, rate making fundamentals, data analysis, and competitor/industry analysis.
In-depth knowledge of related pricing, marketing, insurance models/contracts, and financial analysis necessary.
Ability to work toward results, deal with ambiguity, tackle problems, learn on the job, and make quality decisions.
Ability to lead projects, deal with competing priorities, timelines, and resources.
Managerial courage and command skills are essential.
Ability to stay at-ease with senior management and present critical information to them is necessary.
Advanced skills in Microsoft Excel.

Nice To Haves

Progress toward, or completion of, MBA preferred.
Progress toward, or completion of, insurance designations such as CPCU or ARM, or actuarial exams preferred.
Two years commercial lines product experience preferred.
Proficiency in analytical tools, relational databases, data visualization techniques, query-based language and/or statistical software experience preferred.
Other criteria, including leadership skills, competencies, and experiences may take precedence.

Responsibilities

Develop and implement a short- and long-term product plan that drives profitable growth, including premium, retention, and profit forecasts.
Determine how to effectively implement strategic decisions through rate reviews, pricing, risk appetite, placement, timing, etc.
Identify and analyze key financial outcomes, business mix, and industry data to create real business intelligence for informed decision-making.
Review pricing, design features, and associated processes.
Partner with underwriting to ensure risk appetite and guidelines align with product offering and corporate strategy.
Assess internal processes and 3rd-party tools to enhance pricing accuracy, organizational efficiency, and expense management.
Develop and delivers product training, as appropriate.
Complete work within established time and service standards.
May manage timelines and coordinate project work through others.
Plan work to ensure rate review and other key processes are completed, ensuring speed to market.
Proactively seek out opportunities to interact with other business partners while developing cross functional knowledge in claims, sales, marketing, pricing, operations, underwriting, and finance.
Act as a mentor and subject-matter expert to business partners.
Perform other duties as assigned.