About the position
The Lead Product Development Advisor is responsible for leading the creation and enhancement of innovative insurance products and services within Commercial Lines (BOP, CPP & UMB). This role is critical to the product design and development for new products, enhancements, and services. The role is crucial to the decision making on product requirements to IT, keeping scope of the product builds aligned with timelines, and delivering a viable product solution that can be scalable supporting our profit and growth initiatives. You will report to a senior manager, product. In this hybrid role, you will be expected to work a minimum of 10 days per month from the office. Candidates should reside within approximately 35-50 miles of one of the following office locations: Madison, WI 53783; Boston, MA 02110. Position Compensation Range: $97,000.00 - $164,000.00 Pay Rate Type: Salary Compensation may vary based on the job level and your geographic work location. Relocation support is offered for eligible candidates.
Responsibilities
- Lead the development and implementation of innovative products and services, ensuring alignment with strategic goals.
- Understand the small commercial market, product design, offering and appetite.
- Collaborate with subject matter experts and company leaders to implement changes that enhance the customer experience.
- Identify opportunities and threats, providing strategic insights.
- Direct the end-to-end lifecycle of departmental and corporate initiatives, ensuring alignment with strategic goals.
- Oversee the implementation of product changes, ensuring compliance with laws and regulations.
- Foster a culture of continuous improvement within the product development team.
- Develop customer product strategies, including segmentation, roadmap development, and product backlog management.
- Collaborate with product management to identify opportunities, manage vendors, and link enterprise services.
- Execute lean/agile product innovation processes, utilizing minimum viable product concepts to test and validate product needs.
- Develop and oversee processes for launching products, services, and enhancements, ensuring compliance and financial viability.
- Identify and develop expansion strategies in partnership with distribution partners to increase market exposure.
Requirements
- Demonstrated experience providing customer-driven solutions, support, or service.
- Demonstrated experience developing insurance product/line of business strategies.
- Extensive knowledge of leveraging customer, market, and competitor intelligence.
- Extensive knowledge and experience with lean innovation, agile or other development/innovation approaches.
- Extensive knowledge of market research and marketplace and regulatory trends.
- Extensive knowledge and understanding of product design, pricing and product management.
- Solid knowledge and understanding of advanced financial and data analysis techniques.
- Demonstrated experience leading projects in product development and product management.
- Demonstrated experience with profit and loss accountability.
- Demonstrated experience in driving to results in one or more of the following areas: sales, product lines, claims, or other core business functions.
- Demonstrated experience managing and leading large complex projects or programs with a cross-divisional impact toward intended results.
- Solid knowledge and understanding of root cause analysis and processes.
Nice-to-haves
- Proven experience in product development, with a focus on customer-driven solutions.
- Experience with BOP, CPP and Umbrella.
- Comprehensive understanding of insurance industry practices, underwriting guidelines, and risk management.
- Ability to make independent decisions and solve complex problems.
Benefits
- Comprehensive medical, dental, vision and wellbeing benefits.
- Competitive 401(k) contribution.
- Pension plan.
- Annual incentive.
- 9 paid holidays.
- Paid time off program (23 days accrued annually for full-time employees).
- Student loan repayment program.
- Paid-family leave.
