Commercial Lines Product Development Specialist

At Selective, we don't just insure uniquely, we employ uniqueness.

Selective is a midsized U.S. domestic property and casualty insurance company with a history of strong, consistent financial performance for nearly 100 years. Selective's unique position as both a leading insurance group and an employer of choice is recognized in a wide variety of awards and honors, including listing in Forbes Best Midsize Employers in 2024 and certification as a Great Place to Work in 2024 for the fifth consecutive year.

Employees are empowered and encouraged to Be Uniquely You by being their true, unique selves and contributing their diverse talents, experiences, and perspectives to our shared success. Together, we are a high-performing team working to serve our customers responsibly by helping to mitigate loss, keep them safe, and restore their lives and businesses after an insured loss occurs.

Position supports profitability improvement and profitable growth initiatives for assigned lines of business. Understands rates, rules and forms relative to Insurance Services Office (ISO), Selective proprietary and American Association of Insurance Services (AAIS). Works in conjunction with Sr. C/L Product Development Specialist to provide project management on new product development as well as enhancements to existing products and filings related to bureau circulars. All job duties and responsibilities must be carried out in compliance with applicable legal and regulatory requirements.

• Maintains a single point of responsibility for Insurance Services Office (ISO), Selective proprietary and American Association of Insurance Services (AAIS) rates, rules and forms supported by the Business Analyst * Line of Business personnel's expertise. Maintains inventory, and is works with LOB Manager to be accountable for governance of, existing rates, rules and forms as well as future enhancements and managing filing preparation.
• Ensures a consistent business process and tools for product development as respects Selective proprietary rates, rules and forms and decisions relative to ISO and, AAIS circulars and bulletins. Conducts research and analysis relative to the development of new products and enhancements to existing products, sometimes working in partnership with corporate underwriting, including competitor reviews.
• Based on direction from LOB Manager, responds to Line of Business decisions (adopt /delay/ non-adopt) on ISO and AAIS circulars relative to Selective proprietary products including creation and submission of necessary state filings transmittals. Collaborates with the Business Analyst, Line of Business regarding requirements.
• Responsible for project management comprising new product development as well as enhancements to existing products. Monitoring and progress of results.
• Prioritizes product development projects with input of core stakeholders. Cross-functional collaboration includes: Business Services Unit [BSU]; Legal; Compliance; State Filings; Actuary; Claims; Corporate Underwriting; Field Underwriting; Safety Management. May attend Commercial Lines Projects meetings.
• Analyzes existing manuscript endorsements and determines acceptability based on clarity, accuracy, and compliance with each state's regulations; along with LOB Manager, develops alternative solutions using filed forms, or provide alternative language that is compliant, clear, and concise. Tracks usage in accordance with established controls.
• Works with LOB Manager to create and provide educational materials and training programs for new products or enhancements for agents and regional personnel with corporate underwriting to ensure thorough understanding of products and services.
• Assesses the competitive landscape in order to identify underwriting, pricing, coverage and product penetration opportunities to recommend for enhancement of our profitability.
• Provides exceptional customer service to agents, regional personnel, Line of Business analysts, corporate underwriting, State Filings, Compliance, Legal and other stakeholders as identified.

Knowledge and Requirements

• Strong technical underwriting knowledge. Strong working knowledge of ISO and AAIS circulars and bulletins. Ability to research and analyze coverage. Ability to create draft forms, communicate needs and collaborate with core stakeholders to complete. Ability to manage a project. Pro-active, driven and takes initiative

Education and Experience

• College degree preferred. 7+ years Commercial Underwriting experience.
• The following experience is preferred: 3+ years specific business segment experience;
• 3+ years Risk Management and/or reinsurance experience
• 3+ years Field Underwriting; and/or 3+ years agency experience.

Selective Insurance offers a total rewards package that includes a competitive base salary, incentive plan eligibility at all levels, and a wide array of benefits designed to help you and your family stay healthy, achieve your financial goals, and balance the demands of your work and personal life. These benefits include comprehensive health care plans, retirement savings plan with company match, discounted Employee Stock Purchase Program, tuition assistance and reimbursement programs, and paid time off plans. Additional details about our total rewards package will be provided during the recruiting process.

The actual base salary is based on geographic location, and the range is representative of salaries for this role throughout Selective's footprint. Additional considerations include relevant education, qualifications, experience, skills, performance, and business needs.

Selective is an Equal Employment Opportunity employer. That means we respect and value every individual's unique opinions, beliefs, abilities, and perspectives. We are committed to promoting a welcoming culture that celebrates diverse talent, individual identity, different points of view and experiences - and empowers employees to contribute new ideas that support our continued and growing success. Building a highly engaged team is one of our core strategic imperatives, which we believe is enhanced by diversity, equity, and inclusion. We expect and encourage all employees and all of our business partners to embrace, practice, and monitor the attitudes, values, and goals of acceptance; address biases; and foster diversity of viewpoints and opinions.