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Years of Experience
Date Last Verified
Product Development Consultant The candidate develops and manages a product line for an area of business maintaining and updating portfolios to ensure compliance with state and federal laws. Provides technical support on product related issues to internal and external business partners. Explores new product ideas determining viability from a marketing, underwriting, and regulatory standpoint through product review sessions with business unit heads, brokers, and third party administrators. Reviews and modifies proposed advertising material, as needed, ensuring that it correctly reflects the product design and complies with all applicable insurance laws. Leads, guides and mentors other product development and compliance staff. Develops and manages new products through all stages of implementation. Oversees the drafting and filing with states of all policy and certificate documentation. Works with pricing department to monitor product experience and coordinate rate filings with state insurance departments as well as the most complex products. Analyzes contents of objections and/or concerns raised by the state insurance departments and responds accordingly. Develops and maintains product-related training manuals. Provides technical support and sign-off responsibility on product sales promotion pieces. Consults and provides guidance on compliance and product issues. May perform additional duties as assigned.
Qualification and Experience
The candidate should preferably have a Law degree. Professional designations would also be preferred. Must have 9+ years of relevant work experience within policy drafting and commercial insurance product development. Experience with commercial claims such as D & O/LPL also helpful. Should have in-depth knowledge of company's insurance products and processes, benefit types, the regulatory environment, and contract drafting and filing. Strong knowledge and understanding of contract language is required. Knowledge of Microsoft Office Suite as well as other business related-systems is needed.
Ref. #: LEG0000A4
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