Oversee the implementation of all product line research and development and manage products to ensure reasonable growth and profitability is attained. Monitor and recommend markets Farm Bureau should pursue and what companies will provide the competition.
Actively monitor and identify issues related to changes in statutory, regulatory, and legislative activity. File and ensure approval of products and rates with appropriate authorities.Manage the success of the assigned products from conception to end of life including product specifications, development, implementation, and monitoring. This includes growth, profit, market share, agent satisfaction, customer satisfaction, service support and competitiveness responsibilities.Develop, execute and communicate the business plan for the assigned products.Work with Agency, Marketing, Underwriting, Claims, and other departments to anticipate the needed changes in products, in order to support company goals and business plans.Develop and implement new products and changes to existing products by coordinating with marketing, agency, pricing, underwriting, claims, IT and other areas as needed.Serve as the product expert regarding our products and products offered by our competitors.In conjunction with Agency, Marketing and other areas manage product research including economic, social and market trends to identify potential product opportunities and challenges.Ensure assigned products are in compliance with existing company policies, state and federal laws and regulations.
Job Requirements
College degree required, preferably in Business Administration, Finance or Marketing plus a minimum of ten years experience within the insurance industry preferred (products, marketing, actuarial, underwriting, legal or claims), preferably with five years management experience.
Personal lines experience (including farm owners) product knowledge strongly preferred.
Chartered Property Casualty Underwriter (CPCU) required. Chartered Financial Analyst (CFA) preferred. BMust have strong financial, analytical, creative and problem solving skills. Strong oral and written communication skills. Ability to work collaboratively in a team environment and ability to translate market needs to tangible products.
A successfulProduct Directorfor personal lines must possess:
-Solid knowledge ofcurrent Farm Bureau Member’s Choice products
-Working knowledge of AgMax products or the ability to develop this knowledge
- Excellent industry product knowledge
-UnderstandState regs& statutesability to applyto current& future policy language
- Ability to ensure that policy language is compliant with all applicable regulations
- Ability to participate on committees as needed, such as Claims Watch List
-Skills to manage the product aspect of projects
- Work collaboratively w/ pricing mgmt to determine project timing w/ available resources
- Supervisory experience to be able to work with product analysts on very detailed work
as they develop recommendations to make product changes or design new products
- The ability to work closely with Information Technology resources to
- Develop business requirements
- Troubleshoot system issues
- Develop communication for business unit staff and agents
- Design processesensuringpolicyholders are made whole when a system issueimpacts them
Learn more about FBL Financial Group, Inc. at:
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