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About the Role
This Product Development Specialist role will support underwriting business units through effective project management, maintenance, and development of new and innovative insurance products and services. The role will foster continuing development of knowledge of product lines, regulatory developments, and coverage innovations.
Responsibilities
- Create and maintain speed to market guidance in regulatory compliance and drive filing strategy for proprietary P&C and Specialty Products.
- Draft all regulatory notices and change endorsements, and state-specific endorsements to comply with regulatory requirements in connection with form filings.
- Serve as the primary contact for Product Development for all regulatory inquiries relating to filings and application of regulatory issues on surplus lines business.
- Regularly review regulatory and bureau (ISO, NCCI and AAIS) changes and insurance department actions to determine applicability to the Company’s products.
- Research emerging issues related to our products and operations and make recommendations to management and updates, where needed.
- Continue development of depth of knowledge of specific product lines and regulatory developments, including coverage innovations.
- Provide ad hoc drafting support to Product Development team on P&C and Specialty products, as needed.
Requirements
- Bachelor’s Degree required.
- Juris Doctor Degree or CPCU a plus.
- 6-10 years product and/or insurance regulatory experience.
- Extensive knowledge of product development and form/rate filings processes for P&C and Specialty Products based on relevant insurance experience in product development in Standard, Specialty, Primary and Excess lines of business including sophisticated underwriting applications and techniques.
- Experience with bureau (ISO, NCCI and AAIS) and insurance regulatory web resources.
- Proven ability to develop and foster relationships with key external and internal stakeholders.
- Superior interpersonal, presentation, oral and written communication skills.
- Excellent research, detail orientation, creative problem solving and project management skills.
- Proficiency in enhancing existing processes and feedback loops.
Skills
- Product development
- Form/rate filings
- P&C and Specialty Products
- Standard, Specialty, Primary and Excess lines of business
- Underwriting applications and techniques
- Bureau (ISO, NCCI and AAIS) experience
- Insurance regulatory web resources
- Relationship building
- Interpersonal skills
- Presentation skills
- Oral communication
- Written communication
- Research skills
- Detail orientation
- Creative problem solving
- Project management
- Process enhancement
Location
- New York City (NY)
- Chicago (IL)
- Princeton (NJ)
- Hartford (CT)
Work Type
- Full-time
Experience Level
- 6-10 years
Education Level
- Bachelor's Degree
- Juris Doctor Degree
- CPCU
Salary/Compensations
- $101,700 - $169,500
Benefits
- Health insurance (PPO or High Deductible)
- Prescription drug coverage
- Vision insurance
- Dental insurance
- Basic life insurance (1x annual salary)
- AD&D coverage (1x annual salary)
- Short Term Disability coverage
- Long Term Disability coverage
- Supplemental Life and AD&D plans
- Voluntary Benefit plans (Accident, Critical Illness, Hospital Indemnity)
- 401k plan with up to a 5% employer match
- Company-funded retirement savings plan
- Paid time off (starting at 24 days/year)
- Yearly bonus opportunity
- Health and wellness programs
- Paid time off for eligible family care needs
- Tuition assistance
- Educational achievement bonuses
- Corporate matching gifts program
- Paid time off to volunteer
About the Company
- Munich Re Specialty - North America is a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise.
- We offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages.
- We have the financial strength and global resources of an A+ Superior (A.M. Best) rated organization, providing unmatched stability and reliability.
- Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face.
- We are shaping the future of specialty insurance in North America.
Equal Opportunity
- We are an equal opportunity employer.
- Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.