Product Development Specialist

Philadelphia Insurance Companies; Harrisburg (Dauphin County); On-site; USD 76,700 - 85,700; Full time

Benefits offered by this job

Tuition reimbursement

Generous 401K match

Paid vacation

Medical benefits

Job summary

A leading insurance firm in Harrisburg is seeking a Product Development Specialist to join their expanding team. This role involves drafting and updating policy wordings, collaborating with Compliance, Underwriting, and other teams to ensure products meet regulatory requirements. Ideal candidates possess excellent research and communication skills, along with a related degree. The compensation ranges from $76,700 to $85,700 depending on experience and location.

Qualifications

• Bachelor's degree from an accredited college/university preferred.
• Experience with ISO Commercial Lines and regulatory concepts.
• Ability to develop relationships with internal and external stakeholders.

Responsibilities

• Draft and update coverage forms, endorsements, and rate/rule pages.
• Prepare explanatory memos for submission to DOIs.
• Research competitor filings for market positioning.
• Monitor regulatory changes and update forms accordingly.
• Collaborate with various teams for project clarity and compliance.

Skills

Excellent research skills

Detail-oriented

Creative problem solving

Project management skills

Influencing skills

Strong communication skills

Time management skills

Interpersonal skills

Education

Bachelor's degree (or higher)

Insurance Designations (CPCU, ASLI, AU)

Job description

Description

Philadelphia Insurance Companies is expanding our Product Development team. The Product Development Specialist role will support our Property & Casualty products by drafting new and amending existing policy wordings and liaising with the Compliance team during the filing process. This role reports to the Product Development Supervisor. The Product Development Specialist will work closely with the Product Development team, and other stakeholders in Compliance, Underwriting, Claims, Actuarial, Operations and IT. This role will foster continuing development of knowledge of product lines and other functions.

Role Focus: Product Development Specialist (Compliance)

You’ll develop new products and strengthen existing offerings by drafting and updating coverage forms, endorsements, and rate/rule pages - making sure our products are clear, competitive, and compliant. You’ll partner closely with Underwriting, Actuarial, Claims, and IT to move product initiatives from concept to filing to product implementation. You’ll stay ahead of regulatory and legal changes, helping ensure our products continue to meet (and anticipate) evolving regulatory requirements.

A Typical Day May Include

• 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 help 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 to 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, regulatory concepts, along with a strong collaborative, proactive and self-starter nature
• Superior interpersonal, communication, and time management skills and ability to develop and foster relationships with key internal and external stakeholders and contribute in a dynamic, fast-paced environment and effectively deliver on multiple priority matters
• Insurance Designations a plus (CPCU, ASLI, AU, etc.,)
• Bachelor’s degree (or higher) from an accredited college/university preferred
• Compensation National range $76,700.00 - $85,700.00 (Ultimate salary offered will be based on factors such as applicant experience and geographic location.)

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.

Benefits

We offer a comprehensive benefit package, which includes tuition reimbursement and a generous 401K match. Our rich history of outstanding results and growth allow us to focus our business plan on continued growth, new products, people development and internal career opportunities. Additional information on Volunteer Benefits, Paid Vacation, Medical Benefits, Educational Incentives, Family Friendly Benefits and Investment Incentives can be found at https://www.phly.com/Careers/default.aspx.