What are the responsibilities and job description for the Director, Product Development - P&C position at Nationwide Private Client?
If you’re passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.
This role will be focused on PL Auto Product Development.
Compensation Grade : H4 Payband
LI-JS2
Job Description Summary
Our work is essential to helping Nationwide build future capability to serve customer needs. Keeping existing products relevant and marketable and building new products takes research, critical thinking, practicality and collaboration. If you enjoy gathering input and information, working independently and on a team and creating innovative solutions for customers, we want to know more about you!
As a Director, you'll lead a team responsible for developing new personal or commercial insurance line products and making enhancements to existing products. You'll lead all aspects of the design, build, launch, and iterative development efforts to ensure effective design, development, pricing and integration into product offerings. You'll be responsible for day-to-day operational and staff management of product development and accountable for business results.
Job Description
Key Responsibilities :
Manages all activities and functions of a staff who designs, develops configuration, customization, deployment and updating of new and innovative personal or commercial lines products and significant improvements to current products. Oversees staff responsible for all phases of the process.
Directs a staff that leads projects that explore and advance pricing segmentation approaches / methodology. This includes pricing for prototype products under development and enhanced product offerings, as well as the identification / testing of potential new rating characteristics that would differentiate Nationwide in the marketplace.
Leads the development and gains alignment, funding, resource planning, and consensus for a multi-year plan for larger product innovations like Telematics and SmartHome.
Supervises efforts to improve the customer adoption rates of new product introductions / improvements. Partners with field product, sales activation, customer service, marketing, digital and IT to achieve growth objectives and expense targets.
Leads team of product development professionals who provide subject matter expertise on products and / or new programs focused on identifying and anticipating customer needs.
Leads the initial launch of new products and / or product enhancements and continued development of the product. Ensures ongoing consultation and collaboration with core business partners from across the company for a successful product launch and customer experience. Leads the team that creates the business case, acquires the needed funding and is accountable for business results.
Directs a variety of collaborative relationships with vendors, partners and suppliers to support product development efforts, including vendor selection and management for new products and initiatives. Leads service evaluations regarding a variety of outside consulting service vendors.
Leads major projects and may serve as the business delivery executive. Recognized across the organization for expertise in product development.
Provides associate management including performance, salary planning and administration, training and development, workflow and organization planning, day-to-day management, hiring and placement and disciplinary actions for direct and possibly indirect reports.
May perform other responsibilities as assigned.
Reporting Relationships : Reports to Associate Vice President or Vice President. Direct reports typically include senior consultant and below insurance product professionals.
Typical Skills and Experiences :
Education : Undergraduate degree in mathematics, actuarial science, business, finance, marketing, economics or related technical field preferred. Graduate studies in related areas preferred.
License / Certification / Designation : ACAS or FCAS designations highly desired. Process-related certifications preferred. Product-related technical insurance course work (CPCU, CPU, LOMA) preferred.
Experience : Typically, 10 or more years in product development, pricing, marketing or operations preferred. Experience leading teams, complex projects and vendor management desired.
Knowledge, Abilities and Skills : Demonstrated expertise of property and casualty insurance products, actuarial methodologies and insurance concepts. Displays command of legal and regulatory requirements in area of assignment as well as pricing procedures and methodologies. Excellent understanding of business trends to support process design and operations to improve performance. In-depth understanding of insurance and financial services industry, focusing on the Nationwide enterprise and key competitors. Ability to manage people and projects. Effective verbal / written communication skills. Solid understanding of actuarial concepts and other sophisticated statistical concepts. Demonstrated ability to build consensus, lead groups to decisions, and champion projects to completion.
Other criteria, including leadership skills, proficiencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.
Values : Regularly and consistently demonstrates the Nationwide Values.
Job Conditions :
Overtime Eligibility : Exempt (Not Eligible)
Working Conditions : Normal office environment. Occasional travel. Non-standard or extended work may be required based on project needs.
ADA : The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people to perform a somewhat different combination of duties.
We currently anticipate accepting applications until 01 / 24 / 2025. However, we encourage early submissions, as the posting may close sooner if a strong candidate slate is identified before the deadline.
Benefits
We have an array of benefits to fit your needs, including : medical / dental / vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more.
