Small Business Product Development Manager

BUILD YOUR FUTURE, WHILE PROTECTING THEIRS.

You will be challenged. Rewarded. And valued for your unique experience, background and perspective. 

Join a team where hard work pays off and original thinking is celebrated. As you build your future at Westfield, you will quickly learn that protecting our customer’s future is at the heart of what we do. We deliver on our promise to help restore lives and rebuild businesses when the unexpected happens. Building relationships has been a part of our culture since 1848. 

Be a part of a team that recognizes and appreciates those who take initiative, seek opportunity and strive for innovation in a changing world.

SB Product Development Manager Job Summary

• Annual Salary:  $105,828 - $121,702 - $137,577 

The Small Business (SB) Product Development Manager designs and develops new small business products and enhances existing products for targeted lines of business or industry segments, in alignment with the forward-looking product roadmap. This role drives the optimization of small business products and functions and provides strategic direction of the products through experience, knowledge and understanding of product design, development and modernization. The SB Product Development Manager understands who the small business customer is by staying current on the market trends and competitive landscape and designs and delivers products that meet market needs. This role drives the overall product lifecycle of an offering from initial product design through on-going maintenance with a rigorous focus on speed to market and modular product design and in collaboration with cross functional teams within small business and across the enterprise. The SB Product Development Manager oversees the process for developing and deploying small business products, ensuring flexibility, simplification, standardization, rationalization and cost-optimization. 

Essential Functions (primary functions and/or reasons the job exists in order of importance)

Strategic Direction

1. Responsible for optimizing small business insurance products and functions and providing strategic direction of the products through experience with, knowledge and understanding of product design, development and modernization.

Product Planning & Prioritization

2. Conducts research initiatives for new product and service offerings, in partnership with the small business product management team, and serves as a secondary steward to help develop a product roadmap for long term strategy and vision for growth and profit.  

3. Stays current on the competitive landscape to understand external forces and trends. Consumes and understands market and competitive intelligence. Recommends and directs product changes in alignment with strategic direction for the line of business.

4. Stages gate reviews for management review and approval of new product development, artifacts, and milestones.

5. Drives the execution of product strategy by managing and implementing objectives as outlined in the product roadmap.

Product Design

6. Evaluates and identifies optimal product solution design (e.g. bureau vs. 3rd-party vs. proprietary) with an eye toward efficiency and speed-to-market measures.

7. Supports program business opportunities through product design.

Product Development

8. Develops product specifications, including coverage definition, product structure, required coverages, and product rules. Drafts language for policy forms and endorsements, product manuals and underwriting standards and guidelines, recognizing potential exposures and articulating rating structures. Makes recommendations for authority-related referrals as part of the line management process.

9. Creates proposals, project plans, leads key activities, and is the subject matter expert related to the detailed design and implementation of product development lifecycle, including product enhancements, launches or discontinuations.

• Leads project teams through the product design, development and maintenance activities associated with the product development lifecycle.

• Delegates tasks to develop team members and motivates them to ensure timely completion of key deliverables.  

• Manages relationships with individuals outside of the department to ensure product alignment across the enterprise.

10. Leads new product implementation leveraging modular product architecture, working closely with Small Business (SB) Product Development Analyst, Actuarial, IT and Underwriting as part of the product development lifecycle.

11. Conducts technical and product training for both internal business units and external business partners and customers, leveraging SB Product Development Analysts and the technical curriculum team.

Product Maintenance

12. Monitors bureau (ISO, AAIS, NCCI, etc) for emerging products and product enhancements and determines company action.

13. Serves as an internal advocate for assigned line(s) of business. Responsible for development and maintenance of the portion of the product portfolio specific to assigned lines of business.  

14. Collaborates with Product Management to monitor line of business (LOB) operating performance for small business.  

• Works with Product Management, Underwriting Practices, Commercial Lines Profit and Product,  Actuarial, and Business Leaders to research plan variances, analyze loss trends, ensure adherence to underwriting guidelines, and monitor other metrics (e.g. large losses).   

• Recommends and helps implement underwriting and product solutions to improve the health of specific lines of business.  

15. Provides consultation to underwriters on specific risks giving direction and expertise related to underwriting, exposures, guidelines and policy language.

16. Leads or serves as a subject matter expert in Line of Business Practice groups, to move forward initiatives for the LOB companywide. 

17. Travels occasionally to attend conferences, educational seminars and training, and/or travel between office locations.

Desired Qualifications/Experience/Certification/Education (in order of importance)

1. 10+ years of experience in commercial lines underwriting, product development and/or management, risk management, and/or claims.

2. Experience contributing to strategy development and understanding the impact and implications of decisions on other areas of the organization through previous projects and work experiences.   

3. Experience managing projects of various sizes including developing business requirements, delegating tasks, coaching others, and ensuring projects are completed on-time and within budget.

4. Experience tactfully and persuasively handling conflict.

5. Strong oral, written, and interpersonal skills, including facilitation and group presentation skills. 

6. Experience managing one or more significant change efforts in a business environment. 

7. Experience interpreting insurance financial metrics.

8. Strong knowledge and experience using Microsoft Excel, Word, PowerPoint and Outlook.

9. Industry designation (e.g., CPCU, CIC, CRM) desired. 

10. Bachelor’s degree in Business or Risk Management or commensurate experience. 

11. Valid driver’s license and a driving record that conforms to company standards.

Physical Requirements (specific to the role)

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  

• Ability to work effectively in an office environment for 40+ hours per week (including sitting, standing and working on a computer for extended periods of time).

• Ability to communicate effectively in a collaborative work environment utilizing various technologies such as:  telephone, computer, web, voice, teleconferencing, e-mail, etc.

• Ability to travel as required.

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.

Westfield offers a Total Rewards program that focuses on compensation, benefits and wellness, and includes perks like 401(k), pension plan, annual incentive, education reimbursement, flex-time, onsite fitness center and casual dress. Work-life balance, recognition, and learning and career development are all part of a rewarding career with Westfield.

To learn more about Westfield and the opportunities available, please visit us at westfieldinsurance.com.

We are an equal opportunity employer/minority/female/disability/protected veteran.