About the position
At Verus Specialty Insurance, we are seeking a Product Development Analyst to join our team. This role involves defining product vision, leading cross-functional development teams, and overseeing project execution to ensure timely and successful product delivery. The Manager ensures product designs meet jurisdictional compliance requirements and provides strategic guidance and technical support throughout the product lifecycle. Responsibilities include designing policy and endorsement language, maintaining policy forms, evaluating insurance products, drafting tailored endorsements, and monitoring laws and regulations to ensure compliance. The role also involves collaborating with various stakeholders to align insurance products with internal standards and regulatory requirements.
Responsibilities
- Define product vision and lead cross-functional development teams.
- Oversee project execution to ensure timely and successful product delivery.
- Ensure product designs meet jurisdictional compliance requirements.
- Design policy and endorsement language and contribute to underwriting rules.
- Maintain and update policy forms, product user guides, and supporting documentation.
- Evaluate insurance products to promote consistent underwriting practices.
- Draft tailored and standardized endorsements for specific coverage needs.
- Monitor and analyze laws, regulations, and ISO circulars for compliance.
- Develop policy language and underwriting rules for major program updates.
- Collaborate with Corporate Underwriting and Product Line Leaders on new product opportunities.
- Support the CUO in identifying and addressing emerging risks.
- Collaborate with cross-functional stakeholders to ensure product alignment with standards.
- Work with IT teams to ensure accurate representation of products in systems.
- Upload and maintain policy forms and endorsements within internal systems.
- Configure and oversee form attachment rules within internal systems.
- Support Product Line Leaders with regulatory filings for admitted products.
Requirements
- Bachelor’s degree or equivalent work experience required.
- 10+ years of experience in the Property & Casualty (P&C) insurance industry.
- Strong background in product development.
- Exceptional communication skills, both verbal and written.
- Strong interpersonal and teamwork skills.
- Proficiency with Microsoft Word, Excel, PowerPoint, and Adobe Acrobat.
- Familiarity with policy administration systems and form management platforms.
- Knowledge of ISO rating plans and insurance product structures.
- Customer-focused mindset with a proactive approach.
- Highly detail-oriented with strong analytical and problem-solving abilities.
- Proven ability to manage multiple priorities and adapt to shifting deadlines.
- Knowledge of state filing requirements across multiple jurisdictions is preferred.
- Willingness to travel for industry conferences and internal team sessions.
Nice-to-haves
- Active participation in insurance industry education and professional designations (e.g., CPCU, RPLU, ARM).
- Experience with ISO-based forms.
Benefits
- Competitive compensation plan.
- Robust benefits package for full-time regular employees.
