Product Development Specialist (Hybrid)

Job Description

Job Description

Our employees are at the heart of what we do: helping people, businesses and society prosper in good times and be resilient in bad times. When you join our team, you are bringing this purpose to life alongside a passionate community.

Feel empowered to learn and grow while being valued for who you are. At Intact, we commit to supporting you in reaching your goals with tools, opportunities, and flexibility. It’s our promise to you. 

Who we are

At Intact Insurance Specialty Solutions, we are experts at what we do in protecting what makes businesses unique. Our deep understanding of the specialty insurance market is the foundation for our customized solutions, backed by targeted risk control and claims services. Our employees are passionate about providing insurance coverage that’s aligned to our targeted customer groups.

Intact’s Global Specialty Lines business spans across more than 20 verticals in four distinct markets: U.S., Canada, UK and Europe. The following opportunity is for our U.S. team.

The opportunity

We currently have an opportunity for a Product Development Specialist to join our North American Specialty Underwriting team based in one of our Intact offices nationwide on a hybrid schedule. The Product Development Specialist coordinates complex commercial lines product development projects and maintains data integrity for the company. Serves as a company-wide technical expert in product development and regulatory matters affecting products, policies and procedures. Develops complex products for commercial lines. Coordinates activities across functions and divisions within the organization. Trains new members of the legal, compliance or product development teams and provides guidance to lower-level associates or other business areas.  Some of the Product Development Specialist responsibilities include but are not limited to:

• Develops or amends commercial insurance products including forms, rules and rating structures.
• Researches concepts, analyzes data, and develops contract language and rating methodologies. 
• Reviews state statutes, regulations and other requirements to ensure products are compliant. Assists in drafting responses to state insurance department inquiries on regulatory matters.
• Establishes and conveys product development strategies to business areas. Serves as the senior technical expert in the area of product development and regulatory matters pertaining to new or amended products and services. Advises leadership of underwriting, marketing, legal, information technology, and actuarial groups of developments
• Reviews, researches and monitors developments in product development including conducting continual analysis of competitors’ and rate bureaus’ products to develop or amend company products. Reviews fliers, newsletters, laws and regulatory/legislative developments and incorporates changes within our products.
• Assembles complex project plans, monitors work efforts on a daily basis, and ensures products are delivered in accordance with established schedule. Provides advice to stakeholders of developments.
• Prepares background material for independent filings, for submission to the states, including filing memorandums, side by side comparisons and supporting documentation. Amends the products to meet state requirements and prepares responses to states to achieve approval of products.  Works with the state filing group to plan and coordinate filings to required states.
• Reviews circulars from rating bureaus for changes impacting our products. Prepares and distributes analysis of the revisions, their impact and proposes necessary action to leadership.  Develops new or revised rules and forms to implement changes within our products.
• Drafts notice language for policyholder for advisement of coverage or other changes to the insured’s policy.
• Provides new or revised forms, rules and rates and implementation instructions to IT staff to incorporate into policy-writing systems. Coordinates implementation with underwriting, actuarial and operations. Assists field operations with product and coverage issues.
• Maintains databases of historical, pending and in- force forms and rules for company’s independent products.
• Trains new team members in product development protocols and procedures. Provides technical support to team members and other functional areas to develop new or revised products.

The expertise you bring

• Bachelor’s degree required.
• 5-7 years of increasing experience in insurance functions.
• Actuarial exams, RPLU, CPCU, and advanced legal degrees preferred.

Our salary ranges are determined by many factors including location, role, experience and skillset of the candidate. The following ranges displayed reflect the target base salary for new hires; however, your recruiter will provide more specific compensation details during the hiring process. The typical base salary range for this position is: $97,000 - $137,000, based on the factors aforementioned. For candidates located in San Francisco, CA; Washington DC; our Massachusetts based offices and the New York City metro area, the base salary range is $122,000 - $143,000. In addition to base salary, full time Intact employees are also eligible for bonus potential and a full range of benefits to include but not limited to:

• Comprehensive medical, dental and vision insurance with no waiting period
• Competitive paid time off programs
• 401(k) savings and annual contributions of up to 12% of annual salary
• Mental health support programs, life and disability insurance, paid parental leave and a variety of additional voluntary benefits

This position will remain posted until a final candidate is selected. Once the role is filled, this job posting will be removed.    

Why choose Intact

We live our Values:   We are committed to acting with the highest of ethical standards through our five core values: integrity, respect, customer driven, excellence and social responsibility.

Our commitment to Diversity: Founded in our values, we see diversity as a strength and aspire to create an environment where everyone can be themselves, grow and succeed. Together, we will stand up for what’s right to build an inclusive society.

Manage your Time: What you accomplish matters more than hours in the office. We are committed to creating a positive and supportive environment in which you perform your best. Our Time-Off and Flexible Work Arrangement options help foster a healthy work-life balance. 

Check out our Glassdoor reviews to see why people love working for Intact!

Our promise to you

Our Values are foundational to our success at Intact. You’ll make a difference every day when you live our Values, do your best work, are open to change, and invest in yourself.

In return, we promise you support, opportunities, and performance-led financial rewards in a flexible work environment where you can:

• Shape the future: Help us lead an insurance transformation to better protect people, businesses and society.
• Win as a team: Collaborate with inspiring people to do your best work every day and together, stand up for what is right.
• Grow with us: Refresh and reinvent your skills, learn from our diverse teams, lift others up, and grow.

About Intact  

At Intact Insurance Specialty Solutions we are experts at what we do. Our deep understanding of the specialty insurance market is the foundation for our customized solutions, backed by targeted risk control and claims services. Our employees are passionate about providing insurance coverage that’s aligned to our targeted customer groups. Today, we help protect over a dozen industries with tailored coverages and services.

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