Vice President of Product Management

At Allstate, great things happen when our people work together to protect families and their belongings from life’s uncertainties. And for more than 90 years our innovative drive has kept us a step ahead of our customers’ evolving needs. From advocating for seat belts, air bags and graduated driving laws, to being an industry leader in pricing sophistication, telematics, and, more recently, device and identity protection. 

Job Description

The Vice President of Product Management for Group Health Products is responsible for the development and management of products and services to support the overall financials and health of self-funded, stop loss, and group fully insured products as well as contribute to the achievement of profit and growth targets for the products. This job is accountable for making decisions on bringing products to market, incorporating sales feedback and market intelligence, and overseeing activities for countrywide product and rollouts. This position will manage product managers or consultants in accomplishing this work.

Key Responsibilities:

• Lead team of Product Managers to successfully manage and grow group health product line

• Manage two or more Product Managers and/or Consultants, including performance management, workforce planning and recruitment activities

• Lead short and long-term strategies to achieve market share growth and profitability targets on a countrywide basis

• Execute strategies to ensure the integration and execution of product, pricing and risk management for countrywide usage

• Leverage expertise and team findings to drive initiatives and strategic fit for product line

• Manage / perform complex work assignments and problem resolution across systems, processes or channels and navigate obstacles to deliver the work product

• Design and support innovations in all aspects of the product development lifecycle

• Oversee the creation of communication plans, product development, and problem resolution of product or implementation issues

• Ensure alignment of operational parameters to get new products/projects implemented

• Responsible for seeking out resolutions to barriers for downline and across stakeholders in order to achieve business objectives

• Work closely with Portfolio Manager to ensure alignment on overall business strategy across broad internal stakeholders

• Work directly with stakeholders and cross functional AORs including Marketing, Sales, Underwriting, Actuarial, and Account Management to align on strategies and execution methods

• Work directly with third party vendors such as TPAs, medical networks, pharmacy benefit managers, point solutions, and MGU

• Oversee TPA processes to ensure operational alignment

• Coordinate team evaluation of new offerings for the program

• Oversee and own product relationships with third party partnerships such as TPAs, medical networks, pharmacy benefit managers, and point of service solutions as assigned

 • Review applicable updates to program documents and the Summary Plan Description for the self-funded program

• Oversee provider negotiations and payment parameters for reference-based pricing product

• Ensure cohesive strategy between all group health lines.

• Work closely with sales to understand market needs, remove barriers on escalated issues, and align on strategy

• Oversee marketing and go-to-market initiatives identifying Allstate Benefits’ value proposition and product differentiation; assist with review of marketing materials

• Work closely with compliance and legal teams to understand new law and regulation impacts on product line and ensure proper implementation

 

Supervisory Responsibilities:

This job does have supervisory duties

Preferred Qualifications:

Education and Experience

• Bachelor’s degree or equivalent experience

• 7+ years relevant experience

 

Certificates, Licenses, Registrations

• None

 

Functional Skills

• Expertise in level-funded health plans

• Expertise in stop-loss/excess-loss insurance

• Expertise of product, pricing, underwriting and insurance regulation, with solid working knowledge of Allstate Benefits self-funded plans and product offerings including reference-based pricing

• Demonstrated business acumen with knowledge of health insurance industry and company economics

• Advanced problem-solving skills

• Advanced people management skills

• Experience working with Pharmacy Benefit Management programs

• Expertise in business contract review

• Advanced ability to work with legal and compliance teams to draft summary plan description changes to align with the self-funded program offerings

 

Skills

Compensation

Compensation offered for this role is $134,400.00 - 217,350.00 annually and is based on experience and qualifications.

The candidate(s) offered this position will be required to submit to a background investigation.

Joining our team isn’t just a job — it’s an opportunity. One that takes your skills and pushes them to the next level. One that encourages you to challenge the status quo. And one where you can impact the future for the greater good.  

You’ll do all this in a flexible environment that embraces connection and belonging. And with the recognition of several inclusivity and diversity awards, we’ve proven that Allstate empowers everyone to lead, drive change and give back where they work and live. 

Good Hands. Greater Together.

Allstate generally does not sponsor individuals for employment-based visas for this position.

Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.

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