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Commercial Lines Product Specialist

Company Description

We help the world see new possibilities and inspire change for better tomorrows. Our analytic solutions bridge content, data, and analytics to help business, people, and society become stronger, more resilient, and sustainable.

Job Description

Verisk’s ISO Commercial Lines Product Development division is looking for a highly motivated Commercial Property Product Development team member who will conceptually and technically develop new and revised insurance programs in response to the changing business environment.

We look to this role for strategic thought leadership on Commercial Property, Inland Marine and Output Policy lines of business. You will use your understanding of coverages, markets, industries, legal and regulatory trends, our customers, and our competitors to gauge impacts on our insurance programs, provide actionable insights, and create new products and product enhancements. You will also collaborate with our product strategy leaders and compliance experts to react to emerging trends and create new insurance products and related information.

The better we know our customers, the better we can serve them. Customer focus will guide all aspects of your work. You will engage with customers and respond to their feedback with key developments while also developing products that anticipate their needs. This includes participating in panels and other customer forums, representing the products to customers, meeting with them individually and being a key customer resource. You may also represent us at industry conferences and with professional organizations, including preparing and giving presentations and authoring or co-authoring white papers or articles.

As part of a small staff of line-of-business experts you will collaborate with all stakeholders by inviting perspectives, contributions, and partnerships within the team, the unit, the company, and with our customers and business partners. You will:

  • Take an active role in the organization and development of property multi-state filings;
  • Organizing commercial property panel meetings including compiling, organizing and distributing agendas and minutes;
  • Facilitate legal review of product changes and enhancements; and
  • Work with the actuarial department as necessary.

Within Verisk, this person works regularly with other departments including the Actuarial department, Compliance, Government Relations, Operational Support and Publication Support.

Qualifications

  • Bachelor's degree or equivalent experience.
  • Minimum 5 to 10 years P&C insurance experience with strong knowledge of coverages in Commercial Property, Inland Marine and/or Output Policy lines of business required including robust knowledge of market, industry, and competitor trends.
  • Excellent development and analysis of policy forms required.
  • Proven research and analytical skills.
  • Pro-active problem solver.
  • Detail oriented.
  • Excellent verbal and written communication skills.
  • Comfortable presenting at industry events.
  • Experience building great internal or external customer relationships that focus on gaining actionable insights and forming collaborative partnerships with the goal of innovation, product improvement, or ease of use.
  • CPCU, other industry designations, or law degree a plus.
  • Some travel will be required

#LI-ZP1

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Additional Information

In 2022, Verisk received Great Place to Work® Certification for our outstanding workplace culture for the sixth year in a row and second-time certification in the UK, Spain, and India. We’re also one of the 38 companies on the UK’s Best Workplaces™ list and one of 18 companies on Spain’s Best Workplaces™ list.

For over fifty years and through innovation, interpretation, and professional insight, Verisk has replaced uncertainty with precision to unlock opportunities that deliver significant and demonstrable impact. From our historic roots in risk assessment, we’ve grown to provide analytic insights that help transform industries focused on some of the world’s most critical areas. Today, the insurance industry relies on Verisk to be, and to make the world, more productive, resilient, and sustainable.

Verisk works in collaboration with our customers and at the intersection of people, data, and advanced technologies. Through proprietary platformed analytics, advanced modeling, and interpretation, we deliver immediate and sustained value to our customers and through them, to the individuals and societies they serve, with greater speed, precision, and scale.

We’re 9,000 people strong, committed to translating big data into big ideas. We help others see new possibilities and empower certainty into big decisions that impact individuals and societies. And we relentlessly and ethically pursue innovation to help move our customers, and the world, toward better tomorrows.

Everyone at Verisk—from our chief executive officer to our newest employee—is guided by The Verisk Way, to Be Remarkable, Add Value, and Innovate.
• Be Remarkable by doing something better each day in service to our customers and each other
• Add Value by delivering immediate and sustained results that drive positive outcomes
• Innovate by redefining what’s possible, embracing challenges, and pushing boundaries

Verisk Businesses

Underwriting Solutions — provides underwriting and rating solutions for auto and property, general liability, and excess and surplus to assess and price risk with speed and precision

Claims Solutions — supports end-to-end claims handling with analytic and automation tools that streamline workflow, improve claims management, and support better customer experiences

Property Estimating Solutions — offers property estimation software and tools for professionals in estimating all phases of building and repair to make day-to-day workflows the most efficient

Extreme Event Solutions — provides risk modeling solutions to help individuals, businesses, and society become more resilient to extreme events.

Specialty Business Solutions — provides an integrated suite of software for full end-to-end management of insurance and reinsurance business, helping companies manage their businesses through efficiency, flexibility, and data governance

Marketing Solutions — delivers data and insights to improve the reach, timing, relevance, and compliance of every consumer engagement

Life Insurance Solutions – offers end-to-end, data insight-driven core capabilities for carriers, distribution, and direct customers across the entire policy lifecycle of life and annuities for both individual and group.

Verisk Maplecroft — provides intelligence on sustainability, resilience, and ESG, helping people, business, and societies become stronger

At Verisk you can build an exciting career with meaningful work; create positive and lasting impact on business; and find the support, coaching, and training you need to advance your career. We have received the Great Place to Work® Certification for the 7th consecutive year. We’ve been recognized by Forbes as a World’s Best Employer and a Best Employer for Women, testaments to our culture of engagement and the value we place on an inclusive and diverse workforce.  Verisk’s Statement on Racial Equity and Diversity supports our commitment to these values and affecting positive and lasting change in the communities where we live and work.

Verisk Analytics is an equal opportunity employer.

All members of the Verisk Analytics family of companies are equal opportunity employers. We consider all qualified applicants for employment without regard to race, religion, color, national origin, citizenship, sex, gender identity and/or expression, sexual orientation, veteran's status, age or disability.

http://www.verisk.com/careers.html

Unsolicited resumes sent to Verisk, including unsolicited resumes sent to a Verisk business mailing address, fax machine or email address, or directly to Verisk employees, will be considered Verisk property. Verisk will NOT pay a fee for any placement resulting from the receipt of an unsolicited resume.

HR CCPA Privacy Notice.pdf

 

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What You Should Know About Commercial Lines Product Specialist, Verisk

Join Verisk as a Commercial Lines Product Specialist and be part of a team dedicated to changing the world for the better! Based in Jersey City, NJ, you'll play a pivotal role in our ISO Commercial Lines Product Development division. If you’re a passionate individual with a zest for developing innovative insurance programs, then this is the perfect opportunity for you. In this role, you will leverage your extensive insurance knowledge to develop and refine Commercial Property products, while also diving into Inland Marine and Output Policy lines. Your strategic insights will not only help us respond to emerging trends but also anticipate our customer's needs, ensuring we maintain our position as industry leaders. Collaborative by nature, you'll engage with customers directly, gathering feedback that will shape our offerings and participating in industry events to advocate for our products. You'll work closely with various departments, including Actuarial and Compliance, ensuring that the products we develop meet the highest standards and address our clients' needs. Your contributions will be crucial in organizing multi-state filings and participating in high-level discussions with stakeholders. With a minimum of 5 to 10 years of experience in P&C insurance, your analytical and problem-solving skills will shine as you navigate the complexities of the market. We're looking for someone who values relationships and is comfortable presenting at conferences to promote our products. Bring your passion for innovation and help us transform the insurance landscape at Verisk, where we turn analytics into actionable solutions. Join us and let’s inspire change together for a brighter tomorrow!

Frequently Asked Questions (FAQs) for Commercial Lines Product Specialist Role at Verisk
What are the responsibilities of a Commercial Lines Product Specialist at Verisk?

As a Commercial Lines Product Specialist at Verisk, you will be responsible for the conceptual and technical development of new insurance programs. This involves working on Commercial Property, Inland Marine, and Output Policy lines while leading strategic thought initiatives. You'll engage with customers to gather insights and represent our products at industry events, ensuring they are relevant and compliant with emerging trends.

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What qualifications do I need to apply for the Commercial Lines Product Specialist position at Verisk?

To apply for the Commercial Lines Product Specialist position at Verisk, you require a Bachelor's degree or equivalent experience, along with 5 to 10 years of P&C insurance experience focusing on Commercial Property, Inland Marine, or Output Policies. Strong analytical, problem-solving skills, and excellent communication abilities are also essential in this role.

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How does Verisk promote innovation through the Commercial Lines Product Specialist role?

At Verisk, innovation is a core aspect of the Commercial Lines Product Specialist role. You'll be encouraged to engage with clients, analyze market trends, and actively participate in developing new insurance products. By collaborating with internal teams and promoting customer feedback, you will play a crucial part in driving product enhancements and ensuring our offerings remain at the forefront of the industry.

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What experiences are beneficial for a Commercial Lines Product Specialist at Verisk?

Beneficial experiences for a Commercial Lines Product Specialist at Verisk include a background in P&C insurance, particularly in analyzing and developing policy forms. Comfort in presenting at industry events, collaborating across departments, and building strong customer relationships will also be valuable as these skills drive product innovation and improvements that meet client needs.

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What is the company culture like at Verisk for a Commercial Lines Product Specialist?

The company culture at Verisk is supportive and innovative, celebrated through continuous improvement and collaboration. As a Commercial Lines Product Specialist, you'll work within a small, dynamic team, where your insights are valued. With recognition as a Great Place to Work, Verisk encourages individual growth and the pursuit of excellence while fostering a spirit of engagement and diversity.

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Common Interview Questions for Commercial Lines Product Specialist
Can you describe your experience with Commercial Property insurance and how it applies to the role at Verisk?

In answering this question, detail your background in Commercial Property insurance, highlighting specific areas such as product development, analyzing market needs, and your familiarity with regulatory standards. Explain how your expertise can contribute to creating innovative insurance products at Verisk.

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How do you stay updated on industry trends that can affect product development?

Discuss your methods for staying informed, such as attending industry conferences, joining professional organizations, or subscribing to relevant publications. Emphasize your proactive approach in collecting insights that enable you to propose product enhancements in line with emerging trends.

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What strategies do you use to gather customer feedback effectively?

Explain any frameworks or techniques you've used, such as surveys, focus groups, or one-on-one interviews, to collect actionable insights. Talk about how you prioritize customer input and translate it into product developments that enhance their experience.

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How would you handle conflicting feedback from various stakeholders?

Demonstrate your conflict resolution skills by outlining a systematic approach. You might discuss gathering all perspectives, evaluating the underlying needs, and facilitating discussions that align everyone towards common goals while keeping the customer's best interest in focus.

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What is your process for collaborating with other departments for product development?

Detail your collaborative approach, emphasizing open communication, regular check-ins, and involving key stakeholders early in the development process. Sharing successful examples of past collaborations can further showcase your ability to work cross-functionally.

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Can you provide an example of a successful product you developed and the impact it had?

Select a specific product you contributed to and describe the process from concept to launch. Discuss metrics such as sales growth, customer satisfaction, or market share gained to provide concrete evidence of your impact.

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What challenges do you foresee in the role of a Commercial Lines Product Specialist?

Identify potential challenges such as regulatory changes, competitive pressures, or evolving customer expectations. Illustrate your problem-solving abilities by explaining how you would approach these challenges to ensure successful product management.

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What role do analytical skills play in the development of insurance products?

Highlight the importance of analytical skills in interpreting market data, customer feedback, and competitor offerings. Explain how these skills aid in making informed decisions that promote product innovation and address market needs.

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Describe your experience with regulatory compliance in the insurance industry.

Share specific examples related to compliance processes you’ve navigated in previous roles. Explain how you ensured products met all regulations and legal standards before being introduced to the market.

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What motivates you to work in the insurance industry, specifically in product development?

Reflect on what draws you to the insurance sector, such as the opportunity to create value, innovate, and impact customers' lives positively. Share any personal anecdotes that connect your passion for this field to your career aspirations.

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DATE POSTED
December 13, 2024

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