A strong, trusted insurance partner, Berkshire Hathaway Specialty Insurance (BHSI) provides a broad range of commercial property, casualty and specialty insurance coverages and outstanding service to customers around the globe. Part of Berkshire Hathaway’s insurance operations, we bring our solutions to market with our stellar brand name, top-rated balance sheet, and the expertise of our global team of professionals with excellent capabilities and character. Want to be part of the team building the finest property, casualty and specialty lines insurance company in the world?
BHSI is seeking an experienced and talented Senior Product Development Specialist to join our State Affairs team. This position can be based from our Boston, New York, or Chicago office locations. The State Affairs team supports BHSI’s admitted platform holistically to ensure profitable and compliant products are built, filed, implemented, monitored, reported and maintained. We are looking for an individual who has a high level of accountability, sense of urgency, attention to detail and excellence of character. Our culture is fast-paced, challenging, ever-changing yet rewarding. This position will be a great fit for an outside-the-box problem solver who is self-motivated, adaptable, positive and collaborative.
Duties & Responsibilities:
· Daily analysis of ISO and AAIS Commercial Lines form/rate/rule circulars to determine the necessary company action (e.g.: proposed adoption decision, filing impacts, required amendments to proprietary coverage offerings and downstream system impacts) and required communication to internal stakeholders
· Routine monitoring of current marketplace to maintain industry knowledge related to products, competitor intelligence, case law, jurisdictional/regulatory conditions and emerging issues
· Develop/revise contractual forms/endorsements and manage/maintain the company’s portfolio of admitted forms for a variety of commercial insurance lines in support of Underwriting Business Unit initiatives
· Collaborate with Underwriting Business Units to create enhancements and revisions to their admitted products and support the filing package/objection response creation responses to garner approval countrywide
· Liaise with IT to ensure new and revised admitted product specifications (rate, rule, forms, output) are implemented accurately in multiple policy administration systems. Will also participate in regular UAT to confirm the accuracy of our policy administrative systems.
Qualifications, Skills and Experience:
· 5+ Years of relevant property & casualty industry experience in multiple aspects of product development
· Insurance educational studies such as IIA and CPCU
· Experience reviewing ISO and AAIS Circulars, with advanced knowledge of ISO commercial rules, rates and forms; knowledge of ISO and AAIS web resources
· Experience with implementing/validating rating engines
· A solid understanding of business insurance pricing principles, manual rules, policy forms, and underwriting guidelines and how these components contribute to positive corporate underwriting results.
· Advanced multi-tasking and prioritization skills to manage rapidly shifting projects effectively
· Strong interpersonal skills, with the ability to proactively work in a team environment as well as independently
NOTE: This job description is not intended to be all-inclusive. Team Member may perform other related duties as negotiated to meet the ongoing needs of the organization