Sr. Product Development Specialist

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

Job summary

Markel Corporation in Red Bank, NJ, is seeking a Senior Product Development Specialist to lead form development for new and revised insurance products. You will draft forms, analyze regulatory requirements, coordinate filings, mentor teammates, and support underwriting with rules and endorsements while ensuring accuracy across policy systems.

This role requires at least 5 years in commercial property and casualty insurance and strong communication, analytical, and project management skills.

Qualifications

• Bachelor’s degree preferred.
• 5+ years in commercial property and casualty insurance, product development experience.
• Ability to interpret state regulations applicable to policy life cycle.
• Strong communication, analytical and project management skills.

Responsibilities

• Develop forms for new or revised coverages and products to convey underwriting intent and market competitiveness.
• Analyze bureau form changes and impact on existing forms; prepare filing notices and support responses to state regulators.
• Lead form project meetings and assist regulatory specialists with filings and policy system integrity.
• Provide training and mentorship within Product & Regulatory Services; contribute to underwriting rules documentation.

Skills

Commercial insurance

Product development

Regulatory compliance

Communication skills

Analytical thinking

Education

Bachelor's Degree

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 DivisionWhat 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 claimsIdentify and confirm compliance with applicable regulationsResearch competitors’ forms and perform coverage comparisons as requested by the product line leaderAnalyze, interpret and communicate impact of bureau form changes, and determine impact on existing coverage formsFacilitate and conduct form project meetings by product, program, or line of businessPrepare proprietary forms and filing notices to assist the Regulatory Compliance Specialists with accurate and timely submission of product filingsAssist 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 processProvide 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 leadershipLead 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 neededAssist, 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 MarkelParticipate in educational opportunities to enhance job related skills and knowledgeWhat we're looking for:Bachelor’s Degree preferredMinimum 5 years of experience in the commercial property and casualty insurance industry, preferably with experience in product developmentKnowledge of commercial insurance products including manuals and coverage formsAbility to conceptualize and design insurance forms and endorsementsAbility to interpret state laws and regulations as applicable to the insurance policy life cycleExcellent communication skillsSolid analytical and problem-solving skillsDetail-oriented with strong organizational abilityProject management experience preferredTechnically competent in all standard business software applications including Excel and Word#LI-ABUS Work AuthorizationUS 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 betterWe enjoy the everyday | We think furtherWhat’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.Are you ready to play your part?Choose ‘Apply Now’ to fill out our short application, so that we can find out more about you.Caution: Employment scamsMarkel is aware of employment-related scams where scammers will impersonate recruiters by sending fake job offers to those actively seeking employment in order to steal personal information. Frequently, the scammer will reach out to individuals who have posted their resume online. These "job offers" include convincing offer letters and frequently ask for confidential personal information. Therefore, for your safety, please note that:All legitimate job postings with Markel will be posted on Markel Careers. No other URL should be trusted for job postings.All legitimate communications with Markel recruiters will come from Markel.com email addresses.We would also ask that you please report any job employment scams related to Markel to [e-mail] 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] agencies please.