Product Specialist

Summary:

The purpose of the Product Specialist position is to support the products that Northern Neck Insurance offers to their independent agents in support of profitable growth. This position requires a creative, curious, positive mindset leading to fact-based decision making. Data accumulation and manipulation will be a daily part of this position utilizing internal and external data sources. This position will also have responsibilities to support our Underwriting department for their data needs. This position will report directly to the Vice President of Product and Underwriting.

Essential Duties and Responsibilities:

· Data reporting – develop, distribute and maintain management reports in support of existing products and the creation of new products and coverages.

· Competitor Intelligence – develop and maintain competitor intelligence utilizing exterior resources to ensure a complete market understanding of the product we offer. This person will oversee the creation and maintenance of competitive analysis tools and development of ad hoc analyses for all areas of the organization.

· Disruption models – create and maintain disruption models in support of product rate changes. Models will utilize both quote and policy level data.

· Rate changes – Support all data requirements associated with rate changes. Date required will include, development of Actuarial indications, disruption models, rate level calculations, review of competitor rate and underwriting filings for market insights. Contribute to the development of the annual product and rate change strategies. Present rate and product changes to Sales, Underwriting and Senior leadership.

· Manual Maintenance – manage product manuals to ensure manuals are current, accurate and compliant with applicable laws.

· IT interaction – work with IT on product change requirements to ensure the Inow system is rating and underwriting as planned. Work with IT to troubleshoot rating and underwriting issues, create IT tickets in support of needed changes, manage the Core and Digital backlog in development of IT sprints.

· Budget/Planning – Support Product and Underwriting needs during the planning process.

· Collaborate with IT to ensure new data elements are properly captured in the policy administration system and all relevant downstream systems are updated as needed.

· Participate in the management and support of vendor relationships and expenses. Validate and approve monthly vendor invoices. Review and research new vendor solutions as needed to improve profit and growth.

· Influence departments and employees who do not report to the Product department using facts and data in support of the best decision for Northern Neck Insurance.

· Participate in special projects or assist other teams as needed.

· Other duties as assigned. Duties, responsibilities and activities may change, or new ones may be assigned at any time with or without notice.

· All employees are expected to participate in catastrophic events.

Skills Required:

Knowledge of SQL, Excel, Power BI, and PowerPoint. Knowledge of Guidewire (Inow) preferred. Excellent written and verbal skills with strong organizational skills. Strong analytic, math and creative problem-solving skills. Must understand and execute instructions, complete and document tasks accurately and in a timely fashion. Perform complex non-routine tasks with minimal supervision.

Qualifications:

Bachelor’s degree or 5-years equivalent industry work experience. Preferred industry experience in insurance Product Management, Underwriting, IT or Sales.

Supervisory Responsibilities:

This position has no supervisory responsibilities.

Physical Demands and Work Environment:

Core hours correspond to when the phone lines are open and available to our members. This position is located at our Irvington, VA office. The physical demands require the ability to sit, talk, see and hear and to be able to operate an automobile, telephone and computer keypad.

Reasonable accommodation(s) may be made to enable those with disabilities to perform essential functions.

Job Type: Full-time

Pay: $50,000.00 - $85,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Health savings account
• Life insurance
• Opportunities for advancement
• Paid time off
• Referral program

Schedule:

• 8 hour shift
• Monday to Friday

Application Question(s):

• Do you require a sponsorship?

Ability to Commute:

• Irvington, VA 22480 (Required)

Work Location: Hybrid remote in Irvington, VA 22480

Salary : $50,000 - $85,000