Product Development Specialist

Philadelphia Insurance Companies; Jersey City (NJ); Hybrid; USD 77,000 - 86,000; Full time

Benefits offered by this job

Tuition reimbursement

401K match

Job summary

Philadelphia Insurance Companies, a Tokio Marine Group member, is expanding its Product Development team with nationwide consideration for a Product Development Specialist (Compliance). The role drafts policy wordings and liaises with Compliance during the filing process, reporting to the Product Development Supervisor.

The specialist works with Underwriting, Actuarial, Claims, IT and Operations to deepen product knowledge and regulatory expertise in a fast-paced environment.

Qualifications

• Strong research abilities and attention to detail.
• Excellent project management and organization skills.
• Ability to influence multiple stakeholders across departments.
• Solid understanding of ISO Commercial Lines & regulatory concepts.
• Excellent communication and relationship-building with internal/external stakeholders.

Responsibilities

• Draft and update coverage forms, endorsements, and rate/rule pages.
• Prepare clear memos for DOI submissions.
• Monitor regulatory changes and update forms accordingly.
• Collaborate with Underwriting and Actuarial to align project goals.
• Support state filings by organizing filing materials for DOI submissions.
• Coordinate with IT to ensure filing alignment with system requirements.

Skills

Research

Detail-oriented

Project management

Influencing

ISO knowledge

Interpersonal skills

Bachelor's degree

Education

Bachelor's degree

Job description

Marketing Statement
Philadelphia Insurance Companies, a member of the Tokio Marine Group, designs, markets and underwrites commercial property/casualty and professional liability insurance products for select industries. We have been in operation since 1962 and are nationally recognized as a member of Ward's Top 50 and rated A++ by A.M.Best.

Description

Job Description

Marketing Statement
Philadelphia Insurance Companies, a member of the Tokio Marine Group, designs, markets and underwrites commercial property/casualty and professional liability insurance products for select industries. We have been in operation since 1962 and are nationally recognized as a member of Ward's Top 50 and rated A++ by A.M.Best.

Philadelphia Insurance Companies is expanding our Product Development team with Nationwide consideration for a Product Development Specialist.

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)

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.
• We offer a hybrid work model that provides flexibility to work remotely while maintaining meaningful in-office collaboration with your team.
• Remote consideration will be given to qualified candidates located outside of the primary geographic region.

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