What are the responsibilities and job description for the Product Specialist - Property, Inland Marine, & Crime - Blue Bell, PA position at PMA Companies?
Product Specialist - Property, Inland Marine, & Crime
#4386
Multiple Locations
Job Description:
The Product Specialist - Property, Inland Marine, & Crime maintains existing products by ensuring that rates, rules, forms taxes, assessments and surcharges are current, comply with regulatory requirements and supported in policy administration systems, and that changes are implemented efficiently. The Product Specialist supports the transformation of policy administration systems by acting as a subject matter expert for the line of business. The Product Specialist is also responsible for providing similar support for affiliated Old Republic International companies.
Responsibilities include:
- Review Circulars and notices published by ISO, AAIS, independent rating bureaus, state Departments of Insurance and other state entities, and recommend a course of action to the Product Manager.
- Initiate periodic reviews of PMA and competitor loss cost multipliers.
- Implement routine updates to rates, rules, forms, notices, taxes, assessments and surcharges, including securing regulatory approval, updating policy administration systems, notices and associated processes, and communicating changes to Underwriting, Underwriting Operations and affiliated ORI companies
- Support the transformation of policy administration systems by acting as a subject matter expert for the line of business.
- Respond to inquiries regarding the status of current filings, rates, rules, forms, notices, taxes, assessments, and surcharges.
- Respond to inquiries from Underwriting and Underwriting Operations regarding standard coverages and policy construction, including mandatory endorsements, rating, and documentation.
- Respond to inquiries or criticisms from Rating Bureaus and state Departments of Insurance.
- Create and maintain internal reference materials.
- Update records of compliance.
- Develop training materials and conduct training sessions.
- Coordinate with third-party entities, as assigned.
- Assist with responses to data calls.
- Complete research.
- Demonstrate commitment to Company's Code of Business Conduct and Ethics, and apply knowledge of compliance policies and procedures, standards and laws applicable to job responsibilities in the performance of work.
Requirements:
- Proficient at reviewing bureau Circulars, preparing filings and securing regulatory approval.
- Proficient at implementing rates, rules and forms in a policy administration system.
- Proficient understanding of the commonly used coverage forms, rules and guaranteed cost rating plans published by ISO, AAIS, and independent rating bureaus.
- Able to manually rate Property, Inland Marine (ISO and AAIS), and Crime policies
- Strong organizational skills demonstrated by the ability to manage multiple priorities and complete all objectives in a timely and accurate manner.
- Skilled at writing clear and concise technical reference materials.
- Able to collaborate effectively with others, internally and externally.
- Able to complete research and present findings in a clear and concise manner.
- Experience providing technical training.
- Proficient in algebra
- Proficient with Microsoft Word, Excel, Outlook, Teams, Adobe Acrobat and Verisk Mozart.
- Proficient with Verisk and CoreLogic online tools.
- Able to work on a hybrid schedule, including periodic travel to home office.
