Sr. Product Development Specialist

Markel; Red Bank (NJ); On-site; USD 78,000 - 107,000; Full time

Job summary

Markel is seeking a Senior Product Development Specialist in the United States (NJ area) to lead form development for new and revised insurance products. You will draft documents, research coverage forms, and ensure regulatory compliance while collaborating with product leadership and regulatory teams.

The role requires 5+ years in commercial P&C insurance, strong communication, and the ability to interpret state regulations.

Qualifications

• Bachelor’s degree preferred.
• 5+ years in the commercial property and casualty insurance industry.
• Experience in product development.
• Knowledge of manuals and coverage forms.
• Ability to interpret state laws and regulations.
• Excellent communication skills.
• Strong analytical and problem-solving skills.
• Detail-oriented and organized.
• Project management experience preferred.
• Proficiency in Excel and Word.

Responsibilities

• Develop forms for new and revised coverages and products.
• Identify and confirm regulatory compliance.
• Research competitors’ forms and perform coverage comparisons.
• Analyze bureau form changes and impact on existing forms.
• Facilitate form project meetings by product or line of business.
• Prepare proprietary forms and filing notices for product filings.
• Assist with responses to state insurance department questions.
• Support form implementations with policy systems.

Skills

Form development

Regulatory compliance

Attention to detail

Project management

Communication skills

Education

Bachelor’s degree preferred

Tools

Excel

Word

Job description

What part will you play? If you’re looking for a place where you can make a meaningful difference, you’ve found it.

The work we do at Markel gives people the confidence to move forward and seize opportunities, and you’ll find your fit amongst our global community of optimists and problem-solvers. We’re always pushing each other to go further because we believe that when we realize our potential, we can help others reach theirs. Join us and play your part in something special! The Senior Product Development Specialist is responsible for form development of new or revised insurance products and programs, drafting insurance documents and researching coverage forms for Markel's US Insurance Division.

What you'll be doing

• Develop forms for new and revised coverages and products for product leadership that convey underwriting intent, demonstrate market competitiveness, and incorporate clear and supportable language for the successful resolution of claims
• Identify and confirm compliance with applicable regulations
• Research competitors’ forms and perform coverage comparisons as requested by the product line leader
• Analyze, interpret and communicate impact of bureau form changes, and determine impact on existing coverage forms
• Facilitate and conduct form project meetings by product, program, or line of business
• Prepare proprietary forms and filing notices to assist the Regulatory Compliance Specialists with accurate and timely submission of product filings
• Assist the Regulatory Compliance Specialists in their preparation of timely responses to form related questions posed by the State Departments of Insurance that arise throughout the filing process
• Provide concise information to Regulatory Business Analyst to support accurate form implementations with all applicable policy administration functional areas to facilitate the integrity of the company’s rules and forms contained within the company’s policy systems.
• Prepare communications regarding form management to product and business leadership
• Lead in special projects and underwriting support, including but not limited to, creating and maintaining underwriting rules describing the use of each insurance form and endorsement as well as performing training seminars as needed
• Assist, mentor, coach and proactively share knowledge in area of expertise with other associates to build the base of organizational knowledge within Product & Regulatory Services and Markel
• Participate in educational opportunities to enhance job related skills and knowledge

What we’re looking for

• Bachelor’s Degree preferred
• Minimum 5 years of experience in the commercial property and casualty insurance industry, preferably with experience in product development
• Knowledge of commercial insurance products including manuals and coverage forms
• Ability to conceptualize and design insurance forms and endorsements
• Ability to interpret state laws and regulations as applicable to the insurance policy life cycle
• Excellent communication skills
• Solid analytical and problem-solving skills
• Detail-oriented with strong organizational ability
• Project management experience preferred
• Technically competent in all standard business software applications including Excel and Word

US Work Authorization

US Work Authorization required. Markel does not provide visa sponsorship for this position, now or in the future.

Pay information

The base salary offered for the successful candidate will be based on compensable factors such as job-relevant education, job-relevant experience, training, licensure, demonstrated competencies, geographic location, and other factors.

The national average salary range for the Sr. Product Development Specialist is $78,000 - $107,250 with 15% incentive.

Who we are

Markel Group (NYSE – MKL) a fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory and investment operations around the world.

We’re all about people | We win together | We strive for better

We enjoy the everyday | We think further

What’s in it for you

In keeping with the values of the Markel Style, we strive to support our employees in living their lives to the fullest at home and at work.

• We offer competitive benefit programs that help meet our diverse and changing environment as well as support our employees’ needs at all stages of life.
• All full-time employees have the option to select from multiple health, dental and vision insurance plan options and optional life, disability, and AD&D insurance.
• We also offer a 401(k) with employer match contributions, an Employee Stock Purchase Plan, PTO, corporate holidays and floating holidays, parental leave.

Disclaimer

Markel is an equal opportunity employer. We do not discriminate or allow discrimination on the basis of any protected characteristic. This includes race; color; sex; religion; creed; national origin or place of birth; ancestry; age; disability; affectional or sexual orientation; gender expression or identity; genetic information, sickle cell trait, or atypical hereditary cellular or blood trait; refusal to submit to genetic tests or make genetic test results available; medical condition; citizenship status; pregnancy, childbirth, or related medical conditions; marital status, civil union status, domestic partnership status, familial status, or family responsibilities; military or veteran status, including unfavorable discharge from military service; personal appearance, height, or weight; matriculation or political affiliation; expunged juvenile records; arrest and court records where prohibited by applicable law; status as a victim of domestic or sexual violence; public assistance status; order of protection status; status as a smoker or nonsmoker; membership or activity in local commissions; the use or nonuse of lawful products off employer premises during non-work hours; declining to attend meetings or participate in communications about religious or political matters; or any other classification protected by applicable law.

Should you require any accommodation through the application process, please send an e-mail to the [e-mail].