Note: The job is a remote job and is open to candidates in USA. Farmers Insurance is a company dedicated to making a real difference in people's lives through their innovative insurance solutions. They are seeking a Personal Lines Product Manager who will be accountable for profit, loss, and growth for assigned markets or products, while developing and communicating product change recommendations across various functions. The role requires strong analytical skills and expertise in pricing and underwriting principles to drive profitable growth and business results.
Responsibilities
- This position is accountable for profit, loss (P&L) and growth for assigned market or product
- The role develops, approves, and communicates product change recommendations cross-functionally
- The role focuses on pricing, segmentation, and complex analytics to develop market and product strategies
- This includes making strategic recommendations across pricing, underwriting, product design, and eligibility to drive profitable growth and business results
- This position requires natural curiosity, being comfortable with complex unstructured problem solving and dealing with ambiguity
- Provides people leadership through direct management or matrix leadership, including talent development, coaching, and performance accountability
- Has accountability for profit, loss, and growth outcomes for assigned markets or products, including ownership of results, tradeoffs, and corrective actions
- Utilize data, tools, dashboards, and reports in support of analyzing and managing the profit and growth of the business
- Develops and owns short and long term market and product strategies, aligning pricing, underwriting, and product actions to achieve business objectives
- Expertise of pricing and ratemaking principles and the rating and underwriting of products
- Demonstrate an expertise in marketplace insights, competitive intelligence, and regulatory issues to inform the management and design of products
- Understand the pricing and underwriting of competitor products in support of analyzing the performance of the business relative to the market and industry
- Develop, review, and approve product change recommendations, including rate level adjustments with a focus on matching price to risk
- Identify and lead the exploration of unstructured problems, such as investigation of variances, mix shifts, and impacts of competitor actions
- Leads regulatory strategy, Department of Insurance negotiations, and change management for assigned markets; accountable for filing outcomes and approvals
- Drives leadership alignment by framing tradeoffs, risks, and recommendations; influences decisions through clear articulation of strategy and outcomes
Skills
- High School Diploma or equivalent High school diploma or equivalent required
- Minimum 6 years of experience in US property & casualty (P&C) in a pricing or actuarial role; or related experience preferred
- Experience navigating negotiations with Departments of Insurance and leading product changes in complex regulatory states
- Possesses strong product knowledge
- Understands principles of P&C pricing and underwriting
- Understands key indicators of product health
- Understands how to review and assess competitor product positioning and go to market strategies
- Excellent interpretation of complex statistical data
- Demonstrated analytical skills
- Strong presentations skills, able to distill complexity to communicate nuanced concepts for specific audiences
- Possesses strong technical aptitude
- Experience in Excel is required
- Effective interpersonal skills
- Demonstrated strategic thinking and business acumen
- Bachelor's degree in business or related fields such as mathematics, physics, engineering, economics, finance, statistics, accounting, or actuarial science preferred
- People leadership experience preferred
Benefits
- Bonus Opportunity (based on Company and Individual Performance)
- 401(k)
- Medical
- Dental
- Vision
- Health Savings and Flexible Spending Accounts
- Life Insurance
- Paid Time Off
- Paid Parental Leave
- Tuition Assistance
Company Overview