Product Development Specialist

Overview: The Product Development Specialist should have a minimum of 2 years of handling a commercial lines product, preferably with a focus on Middle Market CPP (Commercial Package Policies). Our client would also consider an individual with an underwriting background that has worked closely with product development across different states.
Functions:
Conceives, develops, and implements insurance schemes or products.
Research market data to identify, analyze, and evaluate industries that are potential areas for enhancement or a new entry.
Connect with the actuarial function for the design and pricing of products along with profitability analysis for assigned lines of business.
Recommend form coverages, terms and conditions, and pricing.
Work closely with customer base to identify key needs and appropriate product solutions.
Work with a variety of internal departments to support implementation of products including IT, marketing, training and development, underwriting, etc.
Monitors product programs for effectiveness and offer recommendations to improve product performance in ways that align with enterprise strategies and objectives.
Review new forms with claims legal, and law and regulation for compliance, acceptability, and related reasons as needed for assigned line of business.
Manage distribution and actions to be taken for an assigned line of business.
Serves as primary product contact for state-specific issues, and functions as product subject matter expert in developing state-specific rates and plans.