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Role Description

The Product Manager is responsible for overseeing the bottom-line profit and loss primarily for the Professional liability lines in conjunction with other key stakeholders. The Product Manager develops action plans that support strategic direction for these products. You will actively participate in the analysis, development, maintenance, and implementation of products and programs, including pricing, procedures, research, and policy forms to support Product Management leadership with the continued development of profitable growth. You will work closely with key stakeholders to support growth and profitability through the entire product lifecycle.

• Analyze, evaluate, and develop recommendations and conclusions to influence profitability for multiple professional liability products in multiple states
• Execute and help design monitoring plans for new products and changes to existing products
• Ensure overall goals for production and underwriting profitability are met by analyzing key performance metrics such as premium growth, average rate levels, loss experience, and retention
• Initiate product strategies based on analysis of data with input from internal stakeholders, i.e. Actuarial, Claims, Marketing, Underwriting, etc.
• Understand the property and casualty insurance industry landscape, market trends, and customer and business needs to synthesize insights into key product improvements and deliverables
• Work closely with Business Analysts to ensure proper execution of business requirements for assigned product lines, including new product launches, rate changes, and product enhancements
• Coach, develop, and mentor Product Analysts. May have direct people management responsibility.
• Demonstrate accuracy, thoroughness, and attention to detail at all times; look for ways to improve and promote quality; apply feedback to improve performance; monitor own work to ensure quality.
• Display original thinking and creativity while meeting challenges with resourcefulness; generate suggestions for improving work; utilize innovative approaches and ideas
• Exhibit excellent communication skills and build strong relationships. Presents ideas and information in a manner that gets others' attention.
• Pursue training and development opportunities; strive to continuously build knowledge and skills; share expertise with others.
• Volunteer readily and undertake self-development activities; seek increased responsibilities and take ownership of tasks at hand; take independent actions and calculated risks; take advantage of opportunities but ask for and offer help when needed.

Qualifications

• Bachelor’s Degree in Actuarial Science, Business Management, Economics, Finance, Mathematics, or another analytics related field
• Minimum 5-7 years of relevant professional experience including previous working experience as a Product Manager or Jr/Asst Product Manager in Property and Casualty Insurance
• Experience working with Commercial professional liability products required
• Prior experience managing direct support staff preferred. Exhibits management and leadership skills
• Solid understanding of regulatory filings and actuarial pricing/ratemaking techniques
• Strong understanding of insurance rates, rules and forms
• Strong problem solving, communication, and analytical skills
• Outstanding written/verbal communication, presentation
• Highly organized, detail oriented, self-motivated, and be a self-starter in a fast-paced environment with demanding internal and external deadlines
• Excellent time management skills, with strong ability to juggle multiple priorities
• Proven ability to deliver quality results in a rigorous and dynamic business environment
• Proficient in MS Excel. Power BI experience preferred
• SQL or other programming experience with databases preferred

Benefits

• Full Suite of Medical Benefits
• Long Term Financial Incentives – STOCK!
• 401k with 3.5% Automatic Fully Vested Employer Contributions
• Competitive PTO + Holiday Program
• Lifestyle Spending Allowance
• Professional Development Assistance
• Career Exploration Opportunities
• Regular company-wide social events (even virtually!)

Company Description

At Palomar, we are committed to diversity, equality and inclusion in all facets of the organization. We have built an open culture that celebrates the diversity of our workforce, while actively championing equality and inclusion practices that make us a company people want to work with and work for.

We believe that diversity, equality and inclusion yields greater organizational creativity and productivity, which helps us serve our customers and partners more effectively. Delivering on our diversity commitment returns greater value to our shareholders and ultimately makes a positive impact to the communities in which we do business and to the people who live in them.