Note: The job is a remote job and is open to candidates in USA. ProAssurance is an industry-leading specialty insurer specializing in healthcare professional liability and products liability for medical technology and life sciences. They are seeking an Insurance Product Development & Coverage Analysis Manager to oversee the development and regulatory implementation of new product lines for Medmarc, focusing on specialized E&S coverage offerings. The role involves collaboration with various departments to create new insurance products and providing coverage analysis and training.
Responsibilities
- Oversee the development of new insurance products, including by drafting coverage language and providing creative coverage solutions to meet the unique needs of the niche industry that Medmarc serves
- Develops a strategic vision for Medmarc's coverage offering, including by advising on coverage needs in the marketplace and strategies for growing new product lines profitably
- Manages the planning, development, drafting, implementation, and introduction of new and revised insurance products, including by leading the efforts of in-house subject matter experts and outside counsel
- Develops policy language for new and revised product offerings
- Advises on alternative coverage solutions in the context of the current legal and competitive environments
- Seeks input from key stakeholders, including Medmarc customers, on the content of Medmarc forms
- Prepares communications to leadership regarding form development and management
- Coordinates with business units outside of Medmarc and within the greater ProAssurance Company that are working on new product initiatives
- Provide day-to-day coverage analysis and consultation to support underwriting and account-management efforts
- Consults on and provides interpretation of coverage language
- Monitors and reports on the marketplace, including by analyzing the competition with respect to product offerings. Creates "side-by-side" analysis of competitor policies
- Consults with Underwriting on the development of customized coverage terms as required by the needs of specific accounts
- Responsible for developing and recommending proposed language for coverage endorsements
- Responds to questions about Medmarc's coverage terms, internally and externally
- Drafts customer communications related to coverage, either independently or in coordination with the Marketing and/or Legal Departments
- Advises on underwriting rules that describe the use of insurance forms and endorsements
- Develop and deliver educational content focused on Medmarc's policy forms and coverage terms
- Prepares and delivers presentations on coverage forms and policy language for internal and external audiences
- Creates educational materials related to coverage to be used during the new employee onboarding process and for continuing education initiatives
- Creates coverage guides and references to support the underwriting process
- Coordinates with the Legal Department and functional area responsible for state filings to ensure regulatory compliance and good market conduct
- Prepares supporting documentation, product comparisons, explanatory memorandums, and disclosures to support regulatory filings
- Assists with the preparation of timely responses to form-related questions posed by state insurance departments that arise throughout the filing process
Skills
- A bachelor's degree is required with a strong preference for candidates with a juris doctor (JD)
- Minimum of five years of experience in a casualty insurance environment, including insurance defense or coverage consultation work at a law firm
- Experience analyzing, interpreting, and developing coverage language
- Proven self-starter with strong relationship management skills and the ability to create productive relationships with insurance producers and agencies
- Able to create, build, and develop superior relationships with internal colleagues in different departments within the business unit and ProAssurance
- Superior analytical, negotiation, marketing, and sales skills
- Excellent listening, speaking, writing, and presentation skills
- Meets work deadlines and has excellent desk-management skills
- Proficient in Microsoft Office Suite
- Up to 10% travel
- CPCU, AIC, or ARM is highly desired
Benefits
- Build your career with us and enjoy access to a best-in-class benefits program.
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