Product Development Manager

Ohio Farmers Insurance Company; Westfield Center (OH); Hybrid; USD 90,000 - 110,000; Full time

Job summary

Ohio Farmers Insurance Company is seeking a Product Development Manager to oversee the maintenance and delivery of insurance product offerings. This role involves managing the product lifecycle and ensuring compliance with complex regulations.

The ideal candidate will have at least 7 years in product development within the insurance sector, possess a Bachelor's degree in Business, and demonstrate strong leadership in product management strategies.

This position offers both hybrid and remote work options depending on the location of the employee.

Qualifications

• 7+ years of experience in Product Development, preferably in the Insurance industry.
• Strong knowledge in Agile methodologies and product development processes.

Responsibilities

• Lead implementation of changes to the insurance product portfolio.
• Collaborate with Product Managers for product strategies.
• Provide oversight for product deployment and manage delivery schedules.
• Ensure compliance with legislative and regulatory mandates.
• Manage vendor relationships and product integration.

Skills

Product Development

Customer Relationship Management

Agile Product Development

Go To Market Strategy

Product Management

Business Analysis

Education

Bachelor's degree in Business or related field

Job description

Job Summary

The Product Development Manager is responsible for the ongoing maintenance, development, and delivery of Insurance product offerings. The role oversees and is accountable for the product lifecycle including developing and implementing new products and maintaining the Product portfolio in a complex regulatory environment. The role implements and manages highly efficient processes, best practices, and leading tools to ensure accuracy, timeliness, and oversight for rate, rule, and form projects. The role is responsible for coordination of optimized product related business processes and third-party product partnerships.

Job Responsibilities

• Leads all aspects of planning, prioritizing, and executing the implementation of changes to the insurance product portfolio in a complex regulatory environment.
• Works in partnership with Product Managers to determine strategies for new product launches, existing product modifications, and suspensions or withdrawals of product offerings based on performance and market conditions.
• Provides oversight for product deployment including planning and collaborating with Actuarial, IT, and Underwriting stakeholders to manage the rate and product delivery schedule with consideration to the optimal use of resources and impact to agents and customers.
• Manages the quality, cost, and timeliness of the implementation and maintenance of all products in the product portfolio, including product rates, rules, and coverage changes.
• Leads vendor management functions for vendor product integration, continuous improvement, and product and underwriting data acquisition.
• Serves as the central point of contact for select vendors and vendor programs.
• Develops project risk mitigation strategies and communicates those strategies with key stakeholders.
• Provides oversight to ensure compliance with all legislative and regulatory mandates, rate filings, and corporate/ departmental policies, and ensures automated systems are compliant with filed rules and guidelines and that continuous monitoring is in place.
• Leads process optimization and measurable continuous improvement of the product development lifecycle framework to ensure achievement of target business outcomes.
• Leads efforts to design, develop, implement, and continuously improve product development processes and solutions to drive measurable advances in speed, efficiency, consistency and quality for activities in the product development lifecycle.
• Ensures effective communication and training plans are in place for agents, underwriters, and service teams for product related changes and implementations.
• Ensures the continued creation and maintenance of new data management tools.
• Evaluates external data management sources and tools to assist business partners in risk selection/evaluation, improved segmentation, premium development, process efficiency and cost containment.
• Develops and is accountable for annual budgets including third-party expenses.
• Leads process to identify and evaluate opportunities for strategic alliances that enable growth of the product portfolio while minimizing risk and investment expense.
• Consults with Westfield leaders and employees about product-related needs, questions, and suggestions; directs information or work to the appropriate individual within the unit when appropriate.
• Accountable for talent management and navigation of employee related issues that impact morale and work environment to ensure a high performing team.
• Responsibilities may include hiring and selection, succession planning, performance and compensation management, and employee development and career coaching.
• Manages priorities and workload distribution and removes barriers that impede progress.

Job Qualifications

• 7+ years of experience in Product Development, Insurance industry or a related field.
• Bachelor's degree in Business or a related field and/or commensurate work experience.

Behavioral Competencies

• Certified Insurance Counselor (CIC)

Location

Hybrid- defined as working three or more days per week in the office if the employee's residence is within 50 miles of Westfield Center, OH; OR Remote-if the employee resides more than 50 miles from Westfield Center, OH.

Technical Skills

• New Product Development
• Customer Relationship Management
• Agile Product Development
• Go To Market Strategy
• Product Roadmap
• Product Management
• Business Analysis
• Acceptance Testing
• Enterprise Application Software
• Product Development Lifecycle

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.