Director, Product Development

At Coaction, we’re a unique mix of leaders, achievers, thinkers, and team players with a high-performance mindset and a diverse skillset. We bring our industry expertise together to continually push the boundaries of what insurance can be for our clients.

As Product Counsel, you will support Coaction’s underwriting teams by drafting and developing products across multiple verticals, with an emphasis on excess, general liability and auto. You will work closely with underwriting leaders on coverage, policy language, related regulatory issues, and product innovation.  You will attend meetings with brokers/producers and engage in thought leadership in connection with such products.  You will also participate in creating and executing underwriting guidelines.

Responsibilities:

• Assist in the product development process by working with underwriting, claims, and coverage teams to develop and draft new products, as well as improve existing products

• Review and provide advice in connection with developing and drafting new insurance products and improving existing products

• Advise on market standard offerings and opportunities for Coaction’s underwriting teams.

• Advise on specific implications of potential business decisions and initiatives to enhance opportunities and reduce business risk.

• Promote a consistent approach to coverage, coverage philosophy, coverage guidelines, and best practices.

• Provide counsel and strategic advice to business units and internal clients on all insurance product and regulatory related matters.

• Research, develop, and maintain policy forms and endorsements needed to support new and existing products

• Monitor industry trends and changes in law impacting the relevant vertical markets.

• Liaise with regulatory and operations teams during the form filing process, lead response efforts to critiques and objections from regulators, and collaborate with underwriting, claims, and coverage teams as necessary to resolve any such issues.

• Ensure successful implementation of key technical initiatives by consulting with executives and other company leaders and implementing plans to improve business effectiveness.

• Identify and analyze complex legal issues and make solution-oriented recommendations in resolving such issues in conjunction with Product Development Team.

Qualifications:

• 3-6 years of experience in either a law firm or relevant in-house position with an insurance focus, insurance product development experience, or claims experience.

• Strong command of insurance coverage matters and coverage implications of policy wording

• Strong experience with ISO, GL and Property forms

• Highly organized, analytical, and detail-oriented

• Ability to manage multiple projects in a dynamic environment

• Strong interpersonal skills with a collaborative and energetic style are essential

• Excellent writing and verbal communication skills and an eagerness to learn

• Desire to learn and gain exposure to new areas

• JD is preferred

**This is not a fully remote position. Applicants must sit in either our NYC or Morristown, NJ office on our hybrid work schedule.**

Salary range specific to for this role: $153,000-216,000 + discretionary incentive bonus + benefits depends on various factors including, without limitation, individual and organizational performance. The offered rate of compensation will be based on individual education, experience, and qualifications.  In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement. 

Equal Opportunity Employer

Coaction is an Equal Employment Opportunity employer. Coaction’s policy is not to discriminate against any applicant or employee based on race, color, religion, national origin, gender, age, sexual orientation, gender identity or expression, marital status, mental or physical disability, and genetic information, or any other basis protected by applicable law. Coaction also prohibits harassment of applicants or employees based on any of these protected categories.

If your application is selected, you will receive an email directly from the Coaction Recruiting Team at [email protected] asking you to contact a member of the Coaction Recruiting Team. Any other method of contact may be fraudulent.