Job Summary

Responsible for the development and execution of a successful strategy for the profitable growth of Farmers Personal Auto, Home, Umbrella and FWS products in the assigned territory. Further, this individual must identify key markets within their assigned territory where growth could be detrimental to our profitability and take necessary steps to ensure the health of the exchanges. Also critical to success is the development, implementation, marketing and strategic positioning of the designated products.

Responsible for managing all aspects of their product for multiple states. Determines product strategy including coverage, risk selection criteria, underwriting policy and positioning. Develops rate structure and underwriting guidelines so required profit margins are met. Responsible for risk accumulation for catastrophe loss. Develops product implementation procedures to ensure an orderly change. Ensures that changes are implemented effectively by working with functional managers on proper scheduling.

Key Tasks & Accountabilities

• Drives the overall strategic vision for new and existing business through collaboration with the Distribution leadership team.
• Design a product and pricing strategy aimed at meeting our corporate profitability goals while continuously enhancing our competitive position.
• Receive approval for Farmers personal auto and home filings from Departments of Insurance.
• Implement product and pricing changes which simplify the agent quoting process and enhance our customer satisfaction.
• Work with Distribution in order to optimize the implementation of Personal Lines product changes and to help the Field in measurement and tracking of key initiatives.
• Work with the Government Relations team to promote regulatory reform to enhance Farmers’ competitive positioning in the territory.
• Work with Product Management leadership team and with the Recruiting department to design and implement enhancements to our PM recruiting and training programs in order to attract and retain world class talent.
• Performs other duties as assigned.

Relationships/Other Requirements

Internal:

• Product Zone Head
• President of Personal Lines
• Chief Executive Officer
• Senior Distribution Leadership, including Head of Zone and Head of Territory
• Chief Underwriting Officer
• Chief Marketing Officer
• Head of Service Operations
• Head of IT
• Chief Claims Officer
• Legal
• GAIA

External:

• High level of interaction with various levels of seniority at respective Departments of Insurance and Legislature to a lesser degree.
• High level of interaction with Field Operations.
• Medium level of interaction with Trade and Lobbying organizations.
• Medium level of interaction with external recruiters, comparative rater and other insurance solutions vendors.

Travel

Regular travel to assigned territory to meet with members of the Market Operating Team, Territory Office employees, DMs, agents, regulatory entities, etc.

Qualifications/Experience

A master’s degree is preferred for this role. Ideally 10-15 years of industry experience. Must have Auto and Home Product Management experience. Experience managing several areas of an insurance company (product, marketing, claims, etc.) is beneficial as it provides a perspective on how product changes can impact the rest of the organization. An understanding of IT is critical to success in this role.

Knowledge

A deep understanding of the Auto and Property insurance industry along with knowledge of the key competitors is critical to success in this role. Knowledge of Insurance Code and Code of Regulations and compliance requirements, product and pricing techniques. In depth understanding of competitive environment in assigned territory and nationally. Understanding of the impact of global and local economic and regulatory trends on the insurance marketplace.

Beyond the technical skills, understanding the actions and motivation of our key competitors will help leverage our strengths vs. weaknesses, while simultaneously working on strengthening our vulnerabilities. Ability to drive and lead change management strategies to align with the Farmers Brand.

Technical Skills

A thorough understanding of the Personal Lines business, including the ability to develop personal lines strategy, including pricing, reserving, underwriting and statistical. Advanced mathematics and actuarial techniques, economics, finance. Extensive knowledge of competitive product and pricing techniques and new product offerings. Contract management and negotiation skills.

Advanced leadership skills, critical and analytical thinking, recruiting and people development skills. Also, advanced presentation skills, including the ability to influence others (who are not direct reports) is a necessary skill. Strong ability to engender creative discussion across interdepartmental lines and achieve consensus in order to drive change.