Product Specialist - Commercial Insurance

The Casualty Product Specialist maintains the rates, rules, coverage forms, taxes, assessments and surcharges for an assigned line of business. The Products Specialist provides technical support to colleagues inside and outside of the department. The Product Specialist is also responsible for providing similar support for affiliated Old Republic International companies.

Responsibilities include:

• Review Circulars and notices published by ISO, independent rating bureaus, state Departments of Insurance and other state entities. Evaluate updates to rates, rules and forms and present recommendations to the Product Manager.
• Conduct periodic analysis of Old Republic Commercial Risk and competitor loss cost multipliers.
• Engage with Underwriting, Distribution and brokers to identify target markets and any unmet needs of those markets.
• Evaluate products offered by key competitors.
• Develop proprietary rates, rules and forms that meet the needs of target markets.
• Implement new and amended products in a timely fashion, including securing regulatory approval, updating policy administration systems, notices and associated processes, and communicating changes to Underwriting, Underwriting Operations and affiliated Old Republic companies.
• Assist the Product Manager with development of go-to market strategies and point of sale marketing materials.
• Respond to inquiries regarding coverage interpretation, loss-sensitive products and alternative rating options.
• Publish and maintain product guidelines.
• Research emerging issues and develop responses.
• Assist Underwriting with the development of underwriting guidelines and tools.
• Create and maintain internal reference materials.
• Develop training materials and conduct training sessions.
• Coordinate with third-party entities, as assigned.
• Complete research.
• Demonstrate commitment to Company’s Code of Business Conduct and Ethics, and apply knowledge of compliance policies and procedures, standards and laws applicable to job responsibilities in the performance of work.

• Proficient at reviewing bureau Circulars, preparing filings and securing regulatory approval.
• Understanding of all coverage forms, rules and rating plans published by ISO and independent rating bureaus.
• Understanding alternative rating rules, including large deductible, retrospectively rated programs, consent to rate, deregulation and NY Free Trade Zone.
• Proficient at drafting proprietary forms and rules.
• Working knowledge of competitor products.
• Able to manually rate all rating plans.
• Able to construct loss-sensitive policies.
• Proficient at applying proprietary pricing models.
• Strong organizational skills demonstrated by the ability to manage multiple priorities and complete all objectives in a timely and accurate manner.
• Skilled at writing clear and concise reference materials.
• Skilled at collaborating with others, internally and externally.
• Skilled at completing research and presenting findings.
• Skilled at providing technical training.
• Proficient with Microsoft Word, Excel, Outlook, Teams, Adobe Acrobat.
• Proficient with Verisk online tools.
• Able to work on a hybrid schedule, depending upon location.

Able to travel.