What are the responsibilities and job description for the Product Development Specialist (Insurance) position at Berkley?
Company Details:
Berkley One exists to insure and protect the lifestyles of a modern generation of affluence. We seek clients that are sophisticated individuals and families who require world-class risk and claims management customized to their needs, a team of select expert independent agents and innovative digital tools to keep it simple and easy. We’ll blend our partners, products and capabilities with all that is Berkley, generating a modern solution for the customers we serve.
Our culture is one of innovation, creativity and teamwork. Our team is highly motivated, passionate about our business, and deeply experienced in developing and delivering product and service solutions in the personal insurance marketplace.
The company is an equal opportunity employer.
Responsibilities:
We have a welcoming culture valuing our employees – we trademarked the phrase Everything Counts, Everyone Matters® to describe the Berkley commitment to our people and how we do business. We believe that every person in the organization is important and every accomplishment makes a difference in our results. Come join us!
Key functions include but are not limited to:
Qualifications:
Berkley One exists to insure and protect the lifestyles of a modern generation of affluence. We seek clients that are sophisticated individuals and families who require world-class risk and claims management customized to their needs, a team of select expert independent agents and innovative digital tools to keep it simple and easy. We’ll blend our partners, products and capabilities with all that is Berkley, generating a modern solution for the customers we serve.
Our culture is one of innovation, creativity and teamwork. Our team is highly motivated, passionate about our business, and deeply experienced in developing and delivering product and service solutions in the personal insurance marketplace.
The company is an equal opportunity employer.
We have an exciting opportunity for a Product Development Specialist to join our Berkley One team! You will be a key member of our Product Management team, supporting new product development and management of existing products. You will work closely with Product Managers, Legal, IT, Analytics, Underwriting and Marketing departments to ensure coordinated product releases, maintain competitive and compliant policy forms, and enable strategic product initiatives through data analysis and critical thinking.
We have a welcoming culture valuing our employees – we trademarked the phrase Everything Counts, Everyone Matters® to describe the Berkley commitment to our people and how we do business. We believe that every person in the organization is important and every accomplishment makes a difference in our results. Come join us!
Key functions include but are not limited to:
- Draft policy forms (i.e. coverage forms, policyholder notices, selection forms, etc.) ensuring they meet desired intent, regulatory requirements, customer needs and expectations and adhere to Berkley One’s standardized format
- Collaborate with colleagues across the organization to ensure alignment with forms, rates, rules, and internal systems as well as external and internal communications
- Compile and analyze state and industry research and competitor data to inform strategic adjustments, including form, rate and rule reviews, new product development and modifications in underwriting appetite
- Collaborate with Product Managers to create comprehensive line of business plans for coverage considerations
- Support the product development life cycle from forms drafting, to preparing form filing documents and responding to objections, through implementation and post launch review
- Coordinate with IT on product requirements and conduct UAT on behalf of business stakeholders
- Respond to form related questions providing guidance to underwriting and other internal business personnel
- Compile and analyze company results, pulling product KPIs in preparation for product strategy reviews
- Actively participate in Berkley One Innovation, collaborating with colleagues across the portfolio team around how we can improve our processes and the overall performance of the portfolio
- Other duties as assigned
Qualifications:
- Bachelor's Degree or equivalent experience
- 2 years of insurance product development experience preferred
- Experience working in a mathematical or analytical role, especially in the financial services industry
- Familiarity with insurance contract design (e.g., ISO)
- Proficient in Microsoft Office Suite of products (Word, PowerPoint, Excel)
- Empathy and understanding of the needs of customers, both insureds and their agents alike
- Serve as pro-active advocate for Berkley One customers and passionate about their brand and coverage experience
- Exceptional oral and written communication skills with a communication style that is flexible to the situation; able to communicate clearly and with purpose
- Thrives under pressure, exceptional organizational skills, integrity, and great follow-through on tasks
- Strong attention to detail and ability to juggle competing priorities
- Excellent time management skills with a proven ability to meet deadlines.
- Natural curiosity, a love learning how things work and always looking for innovative improvements
