National Auto and Umbrella Product Manager

March 5

🏈 Ohio – Remote

Although this job is listed in Ohio, this company may be open to hiring remote in other states.

💵 $97.2k - $155.4k / year

⏰ Full Time

🟠 Senior

🔴 Lead

✅ Product Manager

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Encova Insurance

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Encova Insurance is an insurance company dedicated to providing comprehensive insurance solutions for both personal and commercial needs. With decades of experience in the industry, Encova Insurance offers a wide range of products including home, auto, and workers' compensation insurance, while specializing in tailored commercial packages for complex businesses. They prioritize innovation and customer service, ensuring policyholders receive the support and coverage necessary for long-term success.

1001 - 5000 employees

💸 Finance

👥 B2C

📋 Description

•Manages personal lines products at a national level. •Assumes profit and loss responsibility and develops profitable growth strategies for assigned line of business. •Sets national underwriting direction and creates product roadmap for assigned line of business. •Monitors regulatory environment and oversees the implementation of regulatory mandated changes. •Coordinates with IT, State Product Management and Pricing to implement product enhancements. •Develops strategic plans to profitably grow assigned lines of business by working with key stakeholders within the organization. •Manages all changes to their assigned line of business. •Works with key stakeholders to identify needed product changes. •Evaluates, approves and prioritizes product enhancement requests. •Creates industry leading products and underwriting. •Maintains a multi-year product roadmap for assigned lines of business. •Works with IT to maximize available resources. •Monitors industry and regulatory trends. •Analyzes industry and competitor market information and acts as a subject matter expert for regulatory, coverage and underwriting issues. •Generates and champions major product and underwriting strategies and initiatives. •Collaborates with other functional areas to develop product enhancements, generate profitable growth and promote underwriting efficiency. •Conducts post implementation monitoring of product and underwriting enhancements. •Responsible to drive continuous improvement. •Mentors and trains Product Consultant staff. •Guides the work of Product Consultants impacting the Product Manager’s assigned line of business. •Supports the internal and external communications of Encova’s products, features or services. •Conducts agency visits with Sales/Underwriting. •Incorporates feedback in product and underwriting design. •Coordinates with the Learning & Education Group to design product and underwriting training. •Manages relationships with third party providers of coverage and underwriting solutions. •Responsible for establishing and achieving an annual expense budget for underwriting reports and third party coverage providers. •Works with key stakeholders to monitor and design business processes to insure proper matching of rate with risk to minimize premium leakage, and enhance the agent and policyholder experience.

🎯 Requirements

•Undergraduate degree in insurance, risk management, economics, finance, business administration or related field or equivalent knowledge in product management or underwriting. •Minimum of seven years of experience managing product with profit and loss responsibility or Associates degree equivalent plus a minimum of nine years of experience. •Background in Product Management required. •Underwriting and/or Claims experience is a plus. •Strong analytical skills and knowledgeable in analyzing financial results, profitability, and forecasting. •Ability to evaluate top and bottom line impacts of action plans and utilize various data to identify new profit and growth opportunities in the assigned state(s). •Advanced knowledge of actuarial and pricing concepts. •Familiarity with management practices with one or more years of supervisory experience preferred. •Experience managing and leading others preferred. •Must possess excellent interpersonal, communication (oral and written) and analytical skills. •Experience developing and implementing product or underwriting and coverage programs. •CPCU or working towards designation is preferred. •General knowledge of insurance industry, practices, standards, and concepts within related operations and field work. •Ability to effectively collaborate and influence others.

🏖️ Benefits

•401(k) •wellness programs •bonus incentive plans •flexible schedules •early close of office every Friday