Nationwide Mutual Insurance

VP, Product Development - PL

Posted on: 6 Feb 2021

Des Moines, IA

Job Description

If youre passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwides Property and Casualty team could be the place for you!

Job Description Summary

Role is responsible for Personal Lines products throughout the product lifecycle, to include: developing the Personal Lines strategy; product planning and execution in support of the Enterprise and Personal Lines business strategy; researching, assessing and defining product strategic vision, new product development with a focus on Telematics, usage based insurance, Smart Homes and IOT; pricing and demographics as impacted by technology, social media and industry trends; prioritizing product and customer requirements into product innovation.

Job Description

Reporting Relationships: Reports to SVP, PL Product & Underwriting. Direct reports include AVP, Director, Sr Consultant, Consultant and Specialist level roles. Seven indirect reports.

Key Responsibilities:

* Partners with Product Management, Distribution and State Team Interaction to work with Product office personnel (answering questions, participating in meetings, providing Pricing, Product and Underwriting perspective) or to work on current topics supporting the goals of the Product, Distribution and/or State team. Addresses issues with research results.
* Improves Personal Lines Processes. Implements work that results from new ideas from the Product Management Team, Distribution or State Team, competitors or from within the Personal Lines Department. Determines the benefits and unintended consequences and improves research capabilities.
* Develops new generation and future forward products for personal lines, including usage based and internet-based insurance products.
* Develops and builds project plans to implement new products and ideas.
* Plans and coordinates initiatives with product management and finance.
* Member of a cross functional team which assists Product, Pricing and Underwriting when making strategic decisions, implementing strategies and developing financial plans.
* Responsible for interacting with key vendors that supply external data and reports.
* Liaison with other companies and vendors to assess the impact of technology, social media and data aggregates and suppliers such as Facebook, Google and Amazon.
* Collaborates with Personal Lines peer product leaders, marketing and enterprise distribution partners.
* Oversees associate management, including hiring and placement, engagement and diversity, performance management and coaching, salary planning and administration. Accountable for determining requirements, roles, capabilities, structure, priorities, and practices for success.

May perform other duties as assigned.

Typical Skills and Experiences:

Education: Bachelors Degree in mathematics, business or finance required. MBA preferred preferably in a technically related area or industry related certifications preferred.

License/Certification/Designation:

Experience: A minimum of fifteen years of property and casualty product, pricing and underwriting experience, which includes at least ten years of experience managing director/officer level leaders. Skilled in project management principles and a minimum of five years of business or project management experience preferred.

Knowledge, Abilities and Skills: Strong understanding of the insurance industry and in-depth competitor knowledge. Demonstrated success leading multiple disciplines such as Product, Pricing, Sales, Underwriting, and/or Claims. Successful experience in a product management environment. Excellent ability to interact with peers and management, including verbal and written communication skills. Effective at interpreting and presenting complex information so that it is easily understood across a broad range of audiences. Strong strategic ability. Ability to effectively interact with executive leadership and frontline associates. Effective influencing skills.

Other criteria, including leadership skills, competencies and experiences may take precedence.

Staffing exceptions to the above must be approved by the hiring managers leader and HR Business Partner.

Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.

Job Conditions:

Overtime Eligibility: Exempt (Not Eligible)

Working Conditions: Normal office environment. Some travel may be required.

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.

Evaluation Activity: Sandy Rodgers, March 12, 2020

Smoke-Free Iowa Statement: Nationwide Mutual Insurance Company, its affiliates and subsidiaries comply with the Iowa Smokefree Air Act. Smoking is prohibited in all enclosed areas on or around company premises as well as company issued vehicles. The company offers designated smoking areas in which smoking is permitted at each individual location. The Act prohibits retaliation for reporting complaints or violations. For more information on the Iowa Smokefree Air Act, individuals may contact the Smokefree Air Act Helpline at 888-944-2247.

Nationwide Mutual Insurance

Columbus, OH

Nationwide Mutual Insurance Company, together with its subsidiaries, provides insurance and financial services for individuals and businesses in the United States. It offers homeowners, renters, condo, private client, flood, auto, motorcycle, snowmobile, car, ATV, RV, boat, personal watercraft, scooter, life, pet, dental umbrella, identity theft, accident, specialty liability, travel, and wedding insurance products; investment and retirement solutions, such as annuities, mutual funds, exchange traded funds, life insurance, and retirement plans; and banking services, including checking, savings, individual retirement, and money market accounts, as well as certificates of deposit; mortgage, factoring, and equipment financing services; and home, auto, and personal loans.

The company also provides business insurance products comprising business owner’s policy, liability, auto, workers' compensation, property, and excess and surplus. In addition, it provides back-office administrative support services, pensions, and long-term savings plans. The company was formerly known as Farm Bureau Mutual Automobile Insurance Company and changed its name to Nationwide Mutual Insurance Company in 1955. Nationwide Mutual Insurance Company was founded in 1925 and is headquartered in Columbus, Ohio.

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