Director Product Solutions-Hybrid- Des Moines, Iowa

Wellabe Services Co; Des Moines (IA); On-site; USD 130,000 - 180,000; Full time

Benefits offered by this job

401(k) with company match

Health insurance

Paid time off

Volunteer time off

Lifestyle Spending Account (LSA)

Paternity leave

Job summary

Wellabe Services Co in Des Moines, IA seeks a Director of Product Solutions to lead market analysis, product strategy, and development from design to deployment across brands. This role drives pricing, profitability, and competitive positioning while partnering with Actuary, Sales, Compliance and Technology teams.

You will oversee implementation, ensure timely product calendars, and manage cross-functional teams to deliver impactful insurance products that meet customer needs and enterprise

Qualifications

• Strong knowledge of insurance product management principles and practices.
• Ability to evaluate product performance, pricing and profitability.
• Experience leading cross-functional teams and communicating with stakeholders.
• Excellent written and verbal communication skills for diverse audiences.
• 8+ years of relevant experience in insurance product management.
• Knowledge of regulatory environments affecting product lines.

Responsibilities

• Monitor insurance product markets to identify trends and opportunities.
• Collaborate with Actuary to understand financial experience and performance.
• Develop pricing strategies balancing enterprise objectives and customer satisfaction.
• Plan and design market strategy for respective segments and products.
• Coordinate product implementation and maintain alignment with calendars and governance.
• Lead relationships with third-party partners and internal departments across Sales, Compliance and Tech.

Skills

Insurance product management

Market analysis

Strategic planning

Financial acumen

Leadership

Cross-functional collaboration

Regulatory understanding

Communication skills

Education

Bachelor’s degree in business/finance/insurance or related field

Experience considered in lieu of degree

Insurance certification (optional)

Job description

Description

Wellabe is looking for a Director of Product Solutions to join our team. The Director Product Solutions is responsible for monitoring and understanding insurance products market to suggest and provide direction for manufacturing product(s). This includes identifying headwinds, tailwinds, opportunities and risks from design to delivery of fully developed products, including the components of product management, planning and design, development, implementation, and relationship development.

Core Responsibilities

• Market Knowledge
  • Understands the dynamics of particular product line from a market standpoint.
  • Identifies main competitors and strengths and weaknesses of their product offerings.
  • Understands regulatory environment surrounding product line.
  • Identifies trends in a particular product line, including benefit trends, technology trends, distribution trends.
• Works with Actuary to understand the financial experience of product lines.
• Suggests management actions to improve financial results.
• Reports out on financial experience on a monthly basis through collaboration with Actuary.
• Planning and Design
  • Identifies, develops and evaluates market strategy for respective segment, based on knowledge of Enterprise objectives, market characteristics and cost and markup factors.
  • Advises leaders and other groups on local, national and international factors affecting the buying and selling of products and services for relevant markets.
  • Analyze consumer surveys and behaviors to identify potential markets for products and services.
  • Actively identifies, evaluates and communicates competitive position against known market leaders and new market entrants.
• Development
  • Develops pricing strategies, balancing Enterprise objectives and customer satisfaction.
  • Works closely with actuarial lead to evaluate and report key success factors including financial aspects, return-on-investment and profit-loss projections.
  • Works collaboratively with sales leaders to identify sales goals and marketing support.
  • Uses market analysis, sales forecasting and strategic planning to enable the sale and profitability of products, or services, analyzing business developments and monitoring market trends.
  • Works closely with internal key stakeholders to identify product design and maintenance impact to administration and technology platforms.
• Implementation
  • Subject matter expert for implementation team to ensure accurate product plan and rate loads for product implementations and maintenance across all brands.
  • Recommends product timeline and delivery to coordinate with overall product calendar and corporate project lists.
  • Works closely with compliance and marketing to ensure accurate positioning of product across all tools.
• Relationship Development
  • Liaison as product expert for third party relationships and alliances with business partners
  • Coordinate with internal departments to ensure the effective delivery of products and services through internal and external business partnerships.
  • Actively participates in industry networks, workshops and forums to lead company product position and gather competitive and regulatory insights.
• Manage direct and/or indirect reports including overseeing workflow, providing feedback, fostering a positive work environment, training, hiring, and performance management.

Qualifications

• In-depth knowledge of insurance product management principles, processes, and practices.
• Knowledge of insurance products, market trends, competitive positioning, and regulatory requirements.
• Strong financial acumen with the ability to understand product performance, pricing and profitability.
• Strong analytical and problem-solving skills with the ability to evaluate market information and recommend solutions.
• Strong project management and organizational skills.
• Strong verbal and written communication skills with the ability to present information clearly to various audiences.
• Ability to build effective relationships and collaborate across departments, including Actuarial, Sales, Marketing, Compliance, Operations and Technology.
• Ability to manage multiple priorities and lead product initiatives from planning through implementation.
• Strong leadership and people management skills.
• 8+ years of relevant experience.
• Experience in insurance product management, product development or a related area.
• Experience working with cross-functional teams to develop and implement insurance products.
• Leadership or people management experience.

Education

• Bachelor’s degree in business, marketing, finance, insurance or a related field. A combination of education and relevant work experience may be accepted in lieu of a degree.
• 401(k) with company match
• Health insurance
• Paid time off holidays
• Volunteer time off
• Lifestyle Spending Account (LSA)
• Paternity leave

Growth opportunities

We believe each of us has potential to grow and adapt with our business. We take your career as seriously as you do. Helping you develop your skills and talents leads to opportunities — not only for you, but also for our company. That’s why we provide:

• CliftonStrengths assessment and coaching
• On-site and virtual workshops and cohorts featuring world-class content from FranklinCovey, Crucial Learning, Gallup and more
• Free world-class insurance acumen courses through AHIP and LOMA
• Reimbursement and bonus opportunities for professional designations and certifications, including a tuition reimbursement program
• Opportunities to take part in Wellabe's mentorship programs

Since 1929, Wellabe has been finding solutions to help our customers protect their health and financial well-being. And we’re committed to fostering an internal culture of inclusivity well-being and development so each of our team members can succeed. Learn more about Wellabe’s culture of betterment by visiting wellabe.com/culture .

Wellabe is full of smart, caring, hard-working people with a broad range of talents who understand collaboration is key. We bring our best selves every day, to connect with others to solve problems, spark innovation, and bring ideas to life. Meet the team and learn what makes Wellabe a great place to work by visiting wellabe.com/news/employee-spotlights .

Our core values:

• Be dedicated:Show unwavering commitment by proactively taking initiative, setting clear goals, and managing time effectively.
• Be trustworthy:Take accountability for actions navigate difficult conversations with integrity and build strong relationships through consistent honest behavior.
• Be determined:Demonstrate enthusiasm and a relentless drive to overcome obstacles and achieve goals.
• Be collaborative:Foster teamwork by being self-aware actively listening and effectively communicating across all levels.
• Be open:Embrace diversity and new ideas to create an inclusive environment.
• Be generous:Embody generosity and compassion by serving a greater purpose and helping others.
• Be better:Commit to continuous improvement and adapt effectively to change.
• Be well:Prioritize physical and mental health manage stress and demonstrate emotional intelligence.

Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information please review the Know Your Rights notice from the Department of Labor.