Product Development Specialist

Maguire Insurance Agency Inc; Bala Cynwyd (PA); On-site; USD 76,700 - 85,700; Full time

Benefits offered by this job

Tuition reimbursement

401K match

Paid vacation

Medical benefits

Educational incentives

Family-friendly benefits

Investment incentives

Job summary

Maguire Insurance Agency Inc in Bala Cynwyd is seeking a Product Development Specialist (Compliance) to develop and amend policy wordings, coordinating with the Compliance team during the filing process.

You will draft coverage forms, prepare regulatory memos, and collaborate with various teams including Underwriting and Claims to ensure clarity and compliance. This position requires strong research and communication skills along with a relevant degree.

Comprehensive benefits package and competitive salary based on experience offered.

Qualifications

• Excellent research, detail, creative problem-solving, and project-management skills.
• Strong influencing skills to ensure alignment with various teams.
• Strong command of ISO Commercial Lines and regulatory concepts.
• Superior interpersonal, communication, and time-management skills.

Responsibilities

• Drafting and updating coverage forms and endorsements.
• Preparing memos for submission to Departments of Insurance.
• Researching competitor filings for market positioning.
• Monitoring regulatory changes and updating forms.
• Partnering with Underwriting and Actuarial for project clarification.
• Collaborating with Claims to refine form language.
• Compiling and organizing filing materials for submissions.
• Responding to DOI objections with necessary updates.
• Reviewing system requirements with IT.

Skills

Research skills

Creative problem-solving

Project management

Influencing skills

Communication skills

Education

Bachelor’s degree (or higher)

Job description

Job Summary

Product Development Specialist (Compliance) will develop new and amendment policy wordings and coordinate with the Compliance team during the filing process. The role reports to the Product Development Supervisor and works closely with teams in Compliance, Underwriting, Claims, Actuarial, Operations, and IT.

Typical Day – Responsibilities

• Drafting and updating coverage forms, endorsements, and rate/rule pages.
• Preparing clear, well‑supported explanatory memos for submission to Departments of Insurance (DOIs).
• Researching competitor filings to inform product market positioning.
• Monitoring regulatory and legal changes and translating them into timely updates to forms and rules.
• Partnering with Underwriting and Actuarial to clarify project intent and confirm rating approach.
• Collaborating with Claims to refine form language and improve clarity.
• Supporting State Filings by compiling and organizing filing materials for DOI submissions.
• Responding to DOI objections and coordinating updates with Underwriting and Actuarial.
• Reviewing system requirements with IT to ensure programming aligns with the approved filing.

Qualifications

• Excellent research, detail, creative problem‑solving, and project‑management skills.
• Strong influencing skills to ensure alignment with Underwriting, Actuarial, Operations, Claims, IT, and Compliance.
• Strong command of ISO Commercial Lines, ISO Manuals/Circulars, and regulatory concepts.
• Superior interpersonal, communication, and time‑management skills with the ability to develop and foster relationships with key stakeholders.
• Insurance designations a plus (CPCU, ASLI, AU, etc.).
• Bachelor’s degree (or higher) from an accredited college/university.

Compensation

National range $76,700.00 – $85,700.00. Final salary will be based on applicant experience and geographic location.

Benefits

• Comprehensive benefit package including tuition reimbursement.
• Generous 401K match.
• Paid vacation, medical benefits, educational incentives, and family‑friendly benefits.
• Investment incentives.

EEO Statement

Tokio Marine Group of Companies (including, but not limited to the Philadelphia Insurance Companies, Tokio Marine America, Inc., TMNA Services, LLC, TM Claims Service, Inc. and First Insurance Company of Hawaii, Ltd.) is an Equal Opportunity Employer. In order to remain competitive we must attract, develop, motivate, and retain the most qualified employees regardless of age, color, race, religion, gender, disability, national or ethnic origin, family circumstances, life experiences, marital status, military status, sexual orientation and/or any other status protected by law.