General Summary:
The Commercial Lines Product Manager (formal NJM title: Manager, Product Management) oversees the development and success of the Commercial Package and Umbrella products by defining, building and implementing vision and strategy, conducting market research, and collaborating with cross-functional teams. This role will report to the Vice President, Product Management. This position is physically based in our West Trenton, New Jersey corporate office.
Essential Duties and Responsibilities: Essential functions of this job are listed below in order of priority. Reasonable accommodations may be made to enable individuals to perform the essential duties.
• Support the organization in driving responsible and profitable growth across the Commercial Package and Umbrella lines of business.
• Execute the development and communication of the product vision, strategy, and roadmap.
• Work effectively with cross-functional teams including, Actuarial, Claims, Underwriting, Finance, Sales/Marketing, and Customer Service, to support state/product initiatives.
• Lead and develop a team of Actuarial and Business Insights Analysts.
• Assist in the annual planning process in collaboration with marketing, finance, and operations departments.
• Promote cross-functional collaboration and involve stakeholders in the decision-making process.
• Manage CAT exposures for assigned geographies within NJM’s corporate CAT strategy.
• Prepare and present rate changes and/or product recommendations, and business updates to the Executive Leadership Team (ELT) as needed.
• Proactively identify and evaluate new products and service concepts in collaboration with internal departments.
• Participate as a member of the business unit's leadership team, supporting the initiatives.
Required Qualifications: Knowledge, skills & abilities, experience, education, certification and/or license requirements. Regular and predictable attendance is an essential function of the job.
• Bachelor's (Masters preferred) in Mathematics, Economics, Finance, Actuarial Science or related field of Study.
• CPCU designation preferred, Actuarial experience a plus.
• 15+ years in the Commercial Lines P&C insurance industry, including a minimum of 5 years of Commercial Package and Umbrella product management experience.
• Workers’ Compensation and/or Commercial Automobile product management experience is a plus.
• Proven ability to assess market expansion opportunities across multiple states.
• Expertise in gathering competitive intelligence, conducting analysis, and providing insights on risk management, rates, and product recommendations.
• Strong analytical skills, both qualitative and quantitative.
• Demonstrated ability to analyze growth and profitability opportunities.
• Experience in leading, motivating, coaching, and developing staff.
Legal Disclaimer: NJM is proud to be an equal opportunity employer. We are committed to attracting, retaining and promoting a diverse and inclusive workforce that is fully representative of the diversity that exists in the communities in which we do business.
NJM reserves the right at any time to amend, add or delete any aspect of the job description for this position based on business needs
Compensation Information: The salary is commensurate with experience and credentials but is likely to fall in the $170,000 to $215,000 range.
Compensation: Salary is commensurate with experience and credentials.
Eligible full-time employees receive a competitive Total Rewards package, including but not limited to a 401(k) with employer match up to 8% and additional service-based contributions, Health, Dental, and Vision insurance, Life and Disability coverage, generous PTO, Paid Sick Leave, and paid parental leave in addition to state-mandated leave. Employees may also be eligible for discretionary bonuses.
Legal Disclaimer: NJM is proud to be an equal opportunity employer. We are committed to attracting, retaining and promoting a diverse and inclusive workforce that is fully representative of the diversity that exists in the communities in which we do business.
Top Skills
What We Do
NJM is among the Mid-Atlantic's leading property and casualty insurers. Founded in 1913, NJM's mission is to provide value-based insurance solutions to its policyholders with the highest levels of service, integrity, and financial stewardship. The Company operates in a mutual fashion for the exclusive benefit of its policyholders. Headquartered in West Trenton, NJ, with offices in Hammonton and Parsippany, NJM employs nearly 2,500 workers.
- 2019-2023 Forbes Best In-state Employer (Ranked #11 out of 89 NJ employers in 2023)
- 2018, 2019, 2020, 2021, certified by J.D. Power for providing "An Outstanding Auto Claims Experience" for personal lines customers*
- 2018, 2019, & 2020 Clearsurance Customers’ Choice Top Ranked Insurance Companies
- 2021 American Heart Association Gold Level Workplace Health Achievement
- 2020 American Heart Association Silver Level Workplace Health Achievement
- 2019 Forbes Best Mid-size Employers in the country
*J.D. Power Auto Claims Certification Program℠ recognition is based on successful completion of an audit, exceeding a customer experience benchmark through a survey of recent claims servicing interactions, and a Financial Strength rating. For more information, visit jdpower.com.
