Insurance Product Development Manager

The Insurance Product Development Manager at Honeycomb Insurance is responsible for leading the development and management of insurance products, overseeing the filing lifecycle, and ensuring compliance with industry regulations. This role includes researching and maintaining coverage forms, monitoring industry trends, preparing formal filings for state insurance departments, and providing strategic recommendations to senior management.

To be considered for the Insurance Product Development Manager role at Honeycomb Insurance, candidates should have a Bachelor’s degree in Business, Finance, Insurance, or a related field, along with more than 5 years of experience in insurance product management. A strong understanding of insurance principles, market dynamics, and compliance is essential for success in this position.

The Insurance Product Development Manager plays a crucial role in compliance by managing the filing process for new and revised product forms, ensuring adherence to regulatory requirements, and monitoring changes in state laws. The manager develops training programs and guidance for underwriting to support compliance throughout the organization.

The ideal Insurance Product Development Manager at Honeycomb Insurance should be proficient in product management and analytics tools, as well as ISO or AAIS, Excel, and SERFF. Strong communication, project management, and analytical skills are also important for effectively navigating this fast-paced role.

At Honeycomb Insurance, the Insurance Product Development Manager can expect numerous growth opportunities, including advancing within the company as we expand our product lines and market reach. Employees are encouraged to contribute strategically, enhancing their skills while benefiting from a collaborative and forward-thinking environment.

When answering this question, highlight specific product development projects you've worked on, emphasizing your role in compliance, market analysis, and collaboration with cross-functional teams. Providing quantitative results and outcomes can make your experience more compelling.

Explain your methodology for market research, including how you identify customer needs and analyze competitors. Mention any specific tools or data analysis techniques you use, and provide an example of how market research informed your product development decisions.

Discuss your approach to staying updated on regulations and how you integrate compliance checks throughout the product lifecycle. Mention experiences where your proactive compliance measures helped avoid potential issues.

Talk about your communication skills and describe a situation where you successfully integrated feedback from stakeholders. Emphasize your ability to balance diverse perspectives while driving product goals.

Share a specific challenge you encountered, such as regulatory hurdles or market shifts, and explain how you overcame it. Focus on your problem-solving skills and adaptability in high-pressure situations.

Describe a product launch, detailing your role from concept to execution, including research, stakeholder collaboration, and monitoring of outcomes post-launch. Highlight the impact your management had on the project’s success.

Discuss how you leverage data analytics to inform product decisions. Give examples of specific metrics you've tracked, how they've influenced product features, or how you’ve provided insights based on data analysis.

Explain your prioritization process, which could include assessing project impact, aligning with organizational goals, and stakeholder input. Provide an example of successfully managing multiple priorities simultaneously.

Reflect on your approach to teamwork, whether it's through empowering team members, fostering open communication, or setting clear expectations. Share examples that illustrate how your leadership style has bolstered team performance.

Discuss your passion for innovation in the insurance field, as well as your commitment to improving customer satisfaction and compliance. Sharing your enthusiasm for making a positive impact in the industry can resonate strongly with interviewers.