Director of Product Management

Mutual of Enumclaw was founded in 1898 by local farmers who wanted to look out for each other. That spirit continues to define our company culture. We are committed to cultivating and preserving a culture of inclusion and connectedness. Our employees are proud of our thoughtful approach to insurance, and it shows. In January 2024, we were recognized as Washington's Best Company to Work For (our twelfth year in a row as one of the top 100) by Seattle Business magazine, based on a survey of our employees.

Mutual of Enumclaw works exclusively with local independent agents to offer insurance products for individuals, families, farms, and businesses. We currently operate in Washington, Oregon, Idaho, Utah, Arizona, Montana and Wyoming.

The Director of Product Management reports to the Vice President of Product Management and is responsible for driving strategy and profitable growth for assigned regions and products. This role is directly responsible for P&L ownership and working closely with cross functional teams across the enterprise to develop strategy, drive innovation, and deliver consistent results by executing sound decisions through insights, analytics, collaboration, pricing and underwriting discipline.

Location: Hybrid position with approximately 20% travel.

Hiring Range: $167,309 - $192,394

Salary Range: $167,309 - $221,465

*The hiring range represents Mutual of Enumclaw’s current hiring pay scale for this role. Mutual of Enumclaw reserves the right to modify or update this range any time. Exact compensation may vary based on skills and experience. Compensation is only one part of our entire total rewards package. To see some of the benefits and perks we offer, please click here.

Supervisory Responsibilities:

• Lead product management team to drive profitable growth in existing and new market states for all products.
• Drive Profitable Growth in assigned states.
• Responsible for planning, directing, and managing all phases of product development and management for Personal Lines of business.
• Provide product development expertise and leadership involving statistical analysis, market trends, and competitive analysis, opportunity assessment aligned with business strategy, development/evaluation of coverage with all associated factors, regulatory processes/issues, and distribution system requirements.
• Lead product development training, operations, and technology-based strategic initiatives.
• Provide management oversight and direction for assigned product development, IT, and actuarial staff.
• Provide technical and management input to top management involving market requirements, product offerings, pricing/rate analysis, and automation tools/trends.
• Manage, mentor, coach, and guide assigned staff and perform effective succession planning.

Responsibilities:

• Foster an environment of employee development, stakeholder partnership, analytic excellence, and broad business/communication management aptitude.
• Demonstrate mastery of highly complex product development and insurance industry practices, methodologies, and procedures.
• Collaborate with Information Technology to streamline processes and product development work.
• Apply in-depth knowledge of the P&C insurance industry to drive the creation of growth and profit opportunities for insurance products.
• Prioritize projects to maximize customer value, selling opportunities, and revenue generation.
• Assess product opportunities and develop recommendations for applicable lines of business in all states.
• Cultivate creative and productive product development, “idea management”.
• Foster an entrepreneurial, results-oriented Product Management business team.
• Provide expertise and consultation to Marketing, Underwriting, Claims, and the agent distribution system involving revenue generation and market retention, expansion, diversification, and product development efforts.
• Devise, launch, and execute business development programs and services to achieve business plan objectives.
• Collaborate with Business Units to maintain existing business revenue and target new growth areas.
• Provide insights and recommendations on alternative distribution system identification, utilization, and implementation.
• Stay current on relevant pending legislative or rulemaking proposals and advise on ramifications of the passage of such rules or laws.
• Assure that the Products Team is apprised of the Company and organizational goals and understands their contribution to achieving those goals.
• Initiate and maintain involvement in relevant trade, industry, professional, and/or civic associations appropriate for the Company's business strategies.
• Function as a role model in building highly effective, engaged teams.

Required Skills/Abilities: 

• Proven experience in working with Actuarial/Advanced Analytics expertise and leveraging it into tangible business results.
• In-depth comprehension/utilization of product development financial and competitive analysis.
• Proven experience in Product Development, including revising existing products, developing new products for existing territories, and creating new or adapting existing products for new state entry.
• Solid understanding of Underwriting, & Marketing is extremely helpful.
• Strong understanding of the Independent Agent Distribution Channel, including sales & Agency Management.
• A solid understanding of Claims relating to product financial performance, customer retention, and satisfaction.
• In-depth knowledge of regulatory compliance and geographical expansion approaches.
• Expert in relationship cultivation, negotiation, conflict resolution, collaboration, influence, consulting/advisory, decision-making, and leadership skills.

Education and Experience: 

• Bachelor's degree in Business, Actuarial, Mathematics, Statistics, Risk Management, Finance, Operations Research, or other relevant degree programs.
• Advanced degree preferred.
• CPCU, CIC, and other insurance industry designation(s)/certification(s) preferred.
• Significant experience in the areas of regulatory approval management, actuarial principles, project management and business strategy management.
• 9+years' extensive and specialized Property Casualty experience
• 6+ years of Product Management experience
• 2+ years of experience managing a Product Management team

Physical Requirements: 

• Prolonged periods of sitting at a desk and working on a computer, including video conferencing.