VP, Product Development Manager at Chubb in Whitehouse Station, New Jersey

Job Description:

Chubb is the world’s largest publicly traded property and casualty insurer.  With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. A $5B+ division of Chubb, Personal Risk Services offers personal insurance solutions (home, auto, collections, excess, and many more) to successful families and individuals.

The Product Development Manager is responsible for the development and implementation of Chubb Personal Risk Services’ (PRS) products in North America.  

Reporting to the PRS Product Manager, the Product Development Manager leads 20 staff across three teams:  a team responsible for developing and scripting insurance contract language; a team responsible for rolling out product changes throughout the U.S.; and a team responsible for managing contract composition and rate on PRS’ technology platforms.

Key responsibilities:

• Collaborate with Line of Business Product managers and the Product Evolution manager to update core product language and develop new coverage options, driven by evolving client needs and an awareness of  regulatory issues, changing litigation and settlement trends, social trends, and the competitor landscape/ marketplace products.


• Manage end-to-end contract development for new products, including governance, resourcing, form development, IT requirements, user interface design, downstream reporting, ops support, employee training, agent/broker communication/training.


• Manage policy contracts and accompanying letters/ notices that generate from 7 quoting and issuance platforms, including unique proprietary forms on a complex cross-state, multi-line packaged product platform.


• Track industry contract standards/changes to consider which contract revisions we should adopt.


• Annually implement several hundred admitted and E&S product changes in collaboration with GC, IT, and create delivery strategies with field S&D and UW to ensure smooth product release and adoption.


• Ensure regulatory compliance and participate in state regulator dialog and negotiations.


• Partner with Underwriting on referrals, reinsurance treaty coverage changes and individual risks coverage issues.


• Work with the Emerging Hazards team in evaluating issues and exposures to implement contract changes as needed.


• Contribute to project recovery assessment and error prevention.


• Engage in governance, demand management and planning around product management scheduling and allocating/managing appropriate staff resources.


• Develop process efficiencies to streamline workflows and modernize processes.

Requirements:

• Proven experience as a direct and influence manager.


• Executive-level communication skills, written and oral, are required.


• Bachelor’s degree. Advanced degree in business or law a plus.


• Successful, multi-year experience in a management role for an insurance company.  Personal lines experience a plus. An understanding of end-to-end product development, including filing process, regulatory climate, and insurance product-related technology is also a plus.


• Proven project management skills, with a track record of working independently, managing competing priorities and meeting deadlines.


• Should be able to express product design concepts, such as operational trade-offs, contract structural design standards, and customer experience implications.


• Collaborative leadership skills.  Must work well with the team, be willing to train others, and lead through example. Must have a demonstrated record of partnering with teams across an organization and achieving business results.