Product Manager-Commercial Lines
| Company | Allstate Insurance Company |
|---|---|
| Location | Chicago, IL, USA |
| Salary | $85600 – $134620 |
| Type | Full-Time |
| Degrees | Bachelor’s |
| Experience Level | Senior, Expert or higher |
Requirements
- Bachelor’s degree in Business, Actuarial Science, Statistics, Economics, or related field (Preferred)
- Minimum 7-10 years of experience in product management within the commercial auto or broader insurance industry, with a demonstrated track record in product development and state launches
- Experience managing product P&L and working with cross-functional teams
- Proficiency in SQL, Python, R, SAS, or Power BI is strongly preferred
- Strong understanding of regulatory compliance in commercial auto insurance
- Excellent analytical, problem-solving, and decision-making skills
- Effective communicator with experience collaborating across departments and leading project teams
Responsibilities
- Lead the development and execution of product strategies to ensure competitive positioning and profitability in target markets.
- Drive product innovation, including the creation of new coverage options, pricing models, and state-specific adjustments, with a focus on achieving P&L targets.
- Conduct market research, competitor analysis, and performance evaluations to refine product offerings and anticipate market needs.
- Maintain direct responsibility for the product’s P&L, balancing revenue growth, loss ratios, and expense controls.
- Analyze product performance, track KPIs, and use data insights to inform strategic decisions on pricing, underwriting, and loss control.
- Collaborate with actuarial, underwriting, and finance teams to ensure alignment on financial goals and risk assessments.
- Utilize SQL, Python, R, SAS, and Power BI to analyze product performance, build predictive models, and identify opportunities for growth and profitability.
- Design and interpret analyses to support product decisions, collaborating with data scientists and actuarial teams to leverage advanced analytics.
- Develop reporting dashboards and tools in Power BI to provide ongoing insights to senior leadership.
- Ensure compliance with state regulations and filing requirements, working closely with the legal and compliance teams.
- Monitor regulatory changes and proactively adjust product strategies to align with evolving laws and industry standards.
- Serve as the subject matter expert on commercial auto insurance trends, laws, and competitor activities within assigned regions.
- Act as a liaison between Claims, Sales, Operations, and other business units to align product initiatives with company goals and customer needs.
- Work with field and agency partners to drive product adoption, identify training needs, and communicate performance expectations.
- Lead product planning and launch activities, coordinating with marketing, IT, and underwriting to ensure seamless implementation of new products or updates.
Preferred Qualifications
- Proficiency in SQL, Python, R, SAS, or Power BI is strongly preferred
- Bachelor’s degree in Business, Actuarial Science, Statistics, Economics, or related field (Preferred)