Product Mgr, Personal Property
7 months ago
Do you value integrity and innovation? How about passion and caring? Great Us too, and that's why you'll fit right in. Our intentional culture promotes trust and participation, encouraging you to bring your heart and mind to work every day.
Out of Scope
Full Time, Permanent.
Work Hours - Monday to Friday.
General Accountability
Key Accountabilities
Note: This section is not intended to be an exhaustive list of duties and responsibilities - other duties and responsibilities may be assigned.
Product Performance Management (20%)- Analyzes, designs, develops, and manages applicable insurance products across Canada to achieve profitability and growth.- Analyzes customer segments and product performance results by jurisdiction to determine profitability, size, growth opportunities, and loss concerns.- Evaluates regulatory changes in each jurisdiction and communicates changes to the appropriate areas in the corporation.- Evaluates new and emerging issues (industry, market, legislative, economic) and recommends changes to the appropriate areas in the corporation.
Product Design and Policy Wordings and Product Changes Implementation (20%)- Analyzes competitor and customer information to determine product initiatives, new/modified products required and how to appropriately segment the market.- Researches, develops, and maintains policy wordings.- Initiates and leads system enhancements or new systems development required to administer the product.
Internal and External Stakeholder Relationship Management (10%)- Coordinates with and advises the marketing department to develop market research surveys to determine the need for price or product adjustments to improve profitability.- Liaises with Operations and actuarial staff to ensure that underwriting practices and product pricing achieve an appropriate balance between profitability and growth.- Liaises with the Claims division to identify service modifications that are more closely aligned to customer needs.- Initiates, leads, and contributes to projects involving applicable insurance products.- Identifies training needs and develops plans accordingly (underwriters and brokers).- Initiates interaction and collaboration with outside vendors and business consultants to solve business problems related to applicable insurance products.
Key Metrics Identification and Monitoring and Underwriting Budget Development (10%)- Formulates and implements Key Performance Indicator reporting.- Utilizes Business Intelligence asset to assist with decision making and create a data savvy culture within the product management group.- Assesses identified metrics and investigate and responds accordingly.- Leads and facilitates the development of premium budgets.- Guides development of budgeted loss ratios in collaboration with actuarial group.- Monitors and investigates variances from budget.
Product Pricing/Pricing Analysis/Segmentation/Rate Change Impact Analysis (10%)- Analyzes and assesses product experience.- Recommends and advocates pricing changes to senior management.- Forecasts impact of planned rate changes (dislocation, etc.)- Collaborates with pricing group to implement additional segmentation and pricing equity.- Evaluates and measures implemented changes.- Evaluates competitor pricing and recommends pricing adjustments accordingly.
Product Strategy Development (10%)- Researches, prepares, defines, and delivers product strategies.- Presents product strategies to senior management.- Identifies, analyzes, and prioritizes product initiatives.- Approves implementation of product initiatives.
People Leadership (10%)- Builds a high performing workforce by actively leading human resource activities.- Ensures development of divisional succession plans.- Builds a culture of leadership and accountability to effectively deliver on strategic and corporate strategies, ensuring integration with employee performance development and career development plans.- Drives performance through team members and is committed to leadership development across the company, supporting employees and workforce readiness through mentoring, training, and developmental opportunities.
Corporate Management (10%)- Ensures programs and policies are in alignment with corporate, strategic, and divisional strategies.- Manages risk in area of authority.- Prepares, reviews, manages and/or approves departmental/divisional budgets.- Prepares decision requests, decision and/or information items and/or SGI board items.- Ensures that the Health, Safety and Emergency Management Policy is applied in area of responsibility, including development, implementation and managing of program components specific to departmental health and safety requirements.- Makes decisions for departmental operations that are efficient, effective and in alignment with strategic direction and priorities.- Ensures department and program policies, procedures and guidelines are in compliance with applicable federal and provincial legislati
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