Product Specialist (Commercial Lines)

Job Description

Product Specialist (ISO Commercial Lines)
Job Summary

Seeking a highly skilled and detail-oriented Product Specialist (ISO Commercial Lines) to join a Regulatory Compliance Services team. The successful candidate will play a pivotal role in drafting policy wordings, ensuring regulatory compliance, and managing state filings. If you have a strong background in commercial insurance product development and regulatory compliance.
Compensation Package

• Competitive compensation package available
• Comprehensive health, dental, and vision insurance.
• 401(k) Plan
• Professional development opportunities.

Responsibilities

As a Product Specialist, your key responsibilities will include:

• Drafting policy wordings, endorsements, and applications for commercial insurance products, including Commercial Auto, General Liability, Workers Compensation, Excess Workers Compensation, and NCCI Products.
• Collaborating with business units to create or revise rating plans and usage rules.
• Providing product development support for multiple products simultaneously.
• Conducting research on competitor insurance products and creating product comparisons as needed.
• Preparing and submitting SERFF form, rate, and rule filings to State Departments of Insurance for multiple insurance products, and drafting responses to state objections.
• Reviewing and analyzing ISO and NCCI circular bulletins to implement product changes in a timely manner.
• Analyzing and summarizing insurance laws, rules, and regulations to ensure compliance with state and federal requirements.
• Participating in the implementation of policy forms and rates.
• Fostering a culture of continuous improvement, collaboration, and innovation across departments.
• Handling additional tasks or projects as assigned.

Qualifications/Requirements

To be successful in this role, you should meet the following qualifications:

• Bachelor's degree in Business Administration, Insurance, or a related field.
• At least 3 years of experience drafting language for commercial insurance forms.
• Proven experience in preparing and submitting form, rate, and rule filings to State Departments of Insurance.
• A minimum of 3 years of experience reviewing, analyzing, and summarizing insurance laws and regulations.
• Familiarity with insurance-related applications such as PK1Cloud (formerly statefilings.com), ISO, and NCCI is a plus.
• Strong analytical, organizational, and communication skills.
• Ability to manage multiple projects and deadlines effectively.

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