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- Responsible for driving all financial metrics relating to the Flood Lines of Business
- Sets and communicates clear LOB Product strategy, to ensure PRS's Flood offering is aligned with Chubb's personal lines target market and value-added strategy in order to create a competitive advantage
- Develop and manage all Flood pricing, underwriting and coverages. Coordinate and prioritize implementation of resultant changes with other PRS functional departments
- Develops annual Flood rate plan based upon the PRS Actuarial Pricing Study rate indications
- Manage and drive Flood priorities within the PRS systems
- Accountable for driving profitable growth of Flood line of business
- Work with Field Product Leader, field teams and Digital Distribution Lead to develop strategies to increase submission flow of profitable Flood new business
- Monitor industry pricing, underwriting and contract changes and internally developed competitive analysis to educate the organization and potentially make revisions to our programs as warranted
- Advance underwriting and pricing accuracy by identifying and implementing reliable sources of verified third party data
- Develop, lead and monitor various projects
- Partners with the Catastrophe Modeling team to monitor areas of catastrophe and aggregation concerns and leads appropriate business actions to achieve corporate goals
- Develops and implements catastrophe management strategies
- Develop and implement underwriting models/guidelines which support the division's target market strategy and enable appropriate underwriting business awareness identification/declination of risks which cannot be adequately priced or have catastrophe concerns
- Engage with internal and external business partners to drive line of business awareness, facilitate on-site and virtual training on rating & coverage enhancements, Flood related topics
- Provide periodic communications to the overall PRS teams regarding "state of the class" such as performance/results patterns, trends, competitive subjects, strategies, product and pricing developments/changes, etc.
- Collaborate in a team environment with Field Product Management, Sales, Underwriting, Risk Consulting, Operations, IT, Claims, General Counsel, and Actuarial to achieve business plans
- Work with Marketing to develop new marketing materials and resource tools
- Represent Chubb on various industry committees and conferences
- An in-depth knowledge of personal lines high net worth strategies, products, and pricing
- Strong understanding of flood lines of business including rate indications, pricing, and coverage. This includes an understanding of geographic and regulatory issues/concerns
- Expertise with multivariate pricing segmentation and underwriting models
- Expertise and in-depth knowledge of personal lines market
- Possess strong leadership, collaboration, communication, and influence management skills
- Strong interpersonal, analytical and negotiation skills
- Demonstrated abilities to manage multiple priorities and develop long-term strategies
- Demonstrated ability to effectively interact with all levels of internal and external business partners
- Strong analytical and critical thinking skills with strong attention to detail
- Successful, multi-year experience in a personal insurance product management role
Vice President, PRS Flood Product Leader - Chicago, IL, United States - Chubb
Description
Job Description JOB SUMMARY:#J-18808-Ljbffr