Product Development Expert – Construction Property – North America

Allianz; New York (NY); Hybrid; USD 160,000 - 210,000; Full time

Job summary

Allianz Commercial is seeking a Product Development Expert for North America, based in New York or other major markets, to drive construction property product strategy and wording for key accounts. You will collaborate with underwriting, claims, legal and distribution to innovate policy language and new offerings.

The role requires at least five years in Construction Property underwriting and product development, a bachelor’s degree, and the ability to work with international teams; hybrid work

Qualifications

• Minimum of 5 years of experience in Construction Property underwriting and product development.
• Experience designing, developing and implementing consistent contract wordings.
• Comprehensive technical knowledge of construction property products, coverages, underwriting practices, pricing processes, and sales distribution.

Responsibilities

• Developing, implementing, and modifying products and wordings for LoB with global knowledge sharing.
• Supporting the Construction LoB internally and externally to customers, brokers, service providers, and industry groups.
• Collaborating with Underwriting, Claims, Legal and Distribution to drive product innovation.
• Involving other LoB teams and task forces in LoB projects.
• Providing support for special products and monitoring market developments.
• Identifying litigation trends and actuarial insights to adjust wordings and terms.

Skills

Construction Property Underwriting

Product Development

Contract Wordings

Risk Assessment

Analytical Skills

Communication

Team Collaboration

AI Tools Usage

Education

Bachelor’s Degree

Tools

AI Tools

Job description

We are looking for Product Development Expert – Construction Property – North America, based in New York, Chicago, Alpharetta, Houston or Toronto.

Your Team

The Chief Technical Office is responsible for working with technical functions including Pricing, Product Management, Underwriting Integrity, Reinsurance, Portfolio and Accumulation Steering including Catastrophe Management, and Risk Consulting to ensure we are building Technical Excellence across our North America region, and in alignment with the overall global approach.

The Impact You Will Have

Reporting to the Chief Technical Officer, North America, the Product Development Expert – Construction Property – North America will be responsible for supporting the efforts and execution of the Product Development strategy for the North American Constructions Property practice as led by the Managing Director, Technical Underwriter, NA in collaboration with Hub Lead Construction, NA and as supported by the Global Line of Business (LoB) Head and Global Product Development. You will support the efforts to strategically drive the innovation and execution of refreshed or new product offerings as well as customized wording for specific accounts. You will work collaboratively with Underwriting, Claims and Legal teams to create and define a market leading presence for product innovation in the Construction sector. Additionally, you will liaise with a panel of value-added service providers for Allianz Construction policyholders and support consideration and selection of new service providers or service offerings.

Some of your specific responsibilities could include:

• Developing, implementing, and modifying products (Line of Business specific or cross-line), standard wordings and coordinate product-specific organizational matters of LoB with PCs, Regions etc., ensuring global knowledge sharing with regard to special products/enhancements and specific underwriting knowledge for LoB products.
• Supporting the Construction LoB internally and externally to customers, brokers, service providers, the industry, and other organizations.
• Proactively involve functional areas including other LoB teams, Claims, Legal and Distribution.
• Actively supporting LoB specific projects and task forces.
• Providing support for special products.
• Identifying litigation trends, coverage trends and market developments, including market potentials and clients.
• Monitoring new (legal) developments, coordinating and steering regional/country issues (e.g., liability and insurance law development).

What You’ll Bring to the Role

• A minimum of 5 years of experience in Construction Property Underwriting;
• A minimum of 5 years of product development experience;
• Previous experience designing, developing and implementing consistent, robust contract wordings;
• Comprehensive technical knowledge of Construction Property products, coverages, underwriting practices, pricing processes and sales distribution channels;
• Ability to assess risk exposures and hazards relevant to Construction, as well as analyze Construction trends and scenario plans;
• Ability to analyze current performance against various benchmarks with a view to ensure adequate progress and satisfactory performance in product wordings, including specific terms and conditions;
• Experience working with international teams and remote colleagues;
• Ability to analyze highly complex contracts and underwriting principles, identifying and resolving issues before they transpire;
• Ability to develop framework for product genesis to completion, all while communicating with key stakeholders;
• Excellent verbal and written communications skills with an ability to communicate with a variety of people across the organization;
• Ability to utilize AI tools to support day-to-day tasks, improve efficiency and contribute to data-driven decision making; and
• Bachelor’s Degree.

External applicants must be legally authorized to work in the United States without the need for current or future employment-based sponsorship. We are unable to sponsor or take over sponsorship of employment visas at this time, nor can we guarantee future sponsorship.

The annualized base pay range for this role is $160,000 to $210,000. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role, the skills, education, training, credentials and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

75185 | Product Management | Professional | PG12 | Allianz Commercial | Full-Time | Permanent

What’s in it for you?

Let’s care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let’s care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We’ve got your back.

Let’s care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the Allianz Group brand serving the world’s largest consumer brands and major industry players through to family-owned enterprises forming the backbone of nations’ economies. We bring together the corporate multinational business of Allianz Commercial and the commercial business of national Allianz Property & Casualty entities and provide both traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling.

As a key strategic player in the Allianz Group network, Allianz Commercial is present in over 200 countries and in 2022 generated more than €19 billion gross premium.

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation or any other protected characteristic. Diversity of thinking is an important part of our culture.

People with disabilities:

We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email Allianz [e-mail]