Product Development Specialist 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. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally. 

 

The Product Development Specialist will be responsible for working with the commercial underwriting units and other service areas on policy language and development. Policy language development includes new insurance products, endorsements and manuscripts. Additional responsibilities include training; policy language analysis, comparison and review; and coverage consultation. Candidates must be able to work effectively in a team environment with underwriters, attorneys, product development specialists, claims, underwriting support services, actuarial, and other constituencies.

 

Major Functional Responsibilities:

 

A. Development of contract language that accurately reflects relevant underwriting strategies, loss considerations and state mandates;

B. Reviewing, analyzing, drafting and revising policy language and developing new products;

C. Review ISO, competitor and industry materials and their impact on Chubb products;

D. Consult and provide analysis of contract language;

E. Ensure consistency of language by line of business throughout commercial products;

F. Assist in preparation of all required supporting product documentation, comparisons, explanatory memorandums, annotated contracts, and disclosures;

G. Provide guidance regarding marketing materials and contract training;

H. Provide manuscript policy language to support account specific transactions;

I. Assist in responding to regulatory criticisms and mandates; and

J. Adhere to Chubb’s standards, guidelines and templates for product development.

 

Knowledge and Skills:

 

Candidates for this position must have at least 5-7 years of property & casualty insurance contract development or insurance law experience. The candidate should have superior writing and language comprehension skills; strong analytical acumen and an advanced understanding of commercial underwriting and property & casualty insurance industry theories and practices. Candidates must demonstrate a high proficiency in time management, leadership, influence, and project management skills.

 

Candidates must have a proven track record of results achievement, customer development, collaboration, teamwork, problem solving, and marketing/negotiation skills. Candidates must have strong interpersonal and communication skills and the ability to effectively interact with a broad spectrum of constituencies.