Note: The job is a remote job and is open to candidates in USA. ProAssurance is an industry-leading specialty insurer that specializes in healthcare professional liability and products liability for medical technology and life sciences. They are seeking a Product Development and Coverage Analysis Manager to oversee the development and regulatory implementation of new product lines for Medmarc, focusing on specialized coverage offerings. The role involves collaboration with various departments to draft new insurance products, provide coverage training, and conduct policy language analysis.
Responsibilities
- Oversee the development of new insurance products, including by drafting coverage language and providing creative coverage solutions to meet the unique needs of the niche industry that Medmarc serves
- Develops a strategic vision for Medmarc's coverage offering, including by advising on coverage needs in the marketplace and strategies for growing new product lines profitably
- Manages the planning, development, drafting, implementation, and introduction of new and revised insurance products, including by leading the efforts of in-house subject matter experts and outside counsel
- Develops policy language for new and revised product offerings
- Advises on alternative coverage solutions in the context of the current legal and competitive environments
- Seeks input from key stakeholders, including Medmarc customers, on the content of Medmarc forms
- Prepares communications to leadership regarding form development and management
- Coordinates with business units outside of Medmarc and within the greater ProAssurance Company that are working on new product initiatives
- Provide day-to-day coverage analysis and consultation to support underwriting and account-management efforts
- Consults on and provides interpretation of coverage language
- Monitors and reports on the marketplace, including by analyzing the competition with respect to product offerings. Creates "side-by-side" analysis of competitor policies
- Consults with Underwriting on the development of customized coverage terms as required by the needs of specific accounts
- Responsible for developing and recommending proposed language for coverage endorsements
- Responds to questions about Medmarc's coverage terms, internally and externally
- Drafts customer communications related to coverage, either independently or in coordination with the Marketing and/or Legal Departments
- Advises on underwriting rules that describe the use of insurance forms and endorsements
- Develop and deliver educational content focused on Medmarc's policy forms and coverage terms
- Prepares and delivers presentations on coverage forms and policy language for internal and external audiences
- Creates educational materials related to coverage to be used during the new employee onboarding process and for continuing education initiatives
- Creates coverage guides and references to support the underwriting process
- Coordinates with the Legal Department and functional area responsible for state filings to ensure regulatory compliance and good market conduct
- Prepares supporting documentation, product comparisons, explanatory memorandums, and disclosures to support regulatory filings
- Assists with the preparation of timely responses to form-related questions posed by state insurance departments that arise throughout the filing process
Skills
- A bachelor's degree is required with a strong preference for candidates with a juris doctor (JD)
- Minimum of five years of experience in a casualty insurance environment, including insurance defense or coverage consultation work at a law firm
- CPCU, AIC, or ARM is highly desired
- Experience analyzing, interpreting, and developing coverage language
- Proven self-starter with strong relationship management skills and the ability to create productive relationships with insurance producers and agencies
- Able to create, build, and develop superior relationships with internal colleagues in different departments within the business unit and ProAssurance
- Superior analytical, negotiation, marketing, and sales skills
- Excellent listening, speaking, writing, and presentation skills
- Meets work deadlines and has excellent desk-management skills
- Proficient in Microsoft Office Suite
- Up to 10% travel
Benefits
- Access to a best-in-class benefits program
Company Overview