Product Mgr, Personal Property

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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