Head of Pricing & Product Mgmt. (Business Insurance)

Job Description

We are Farmers! 
Join a team of diverse professionals at Farmers to acquire skills on the job and apply your learned knowledge to future roles at Farmers. Farmers Insurance also offers extensive training opportunities through the award winning University of Farmers named by Training magazine amongst top 10 corporate training units in the world. 

Want to learn more about our culture & opportunities? Check out farmers.com/careers and be sure to follow us on Instagram and LinkedIn!

Job Summary 

This role is responsible for the development of best in class pricing strategies for Auto, Commercial Multiple Peril (CMP) and Worker Compensation in Business Insurance.  This role will collaborate with the Product development team to identify key product and pricing offerings for commercial business in order to generate profitable growth. This strategic partner must develop strategy for line of business. Further, this key individual must identify key markets 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 Auto, CMP and Worker Compensation product platform.

Essential Job Functions 
  • Responsible for the development and execution of a successful strategy to grow profitably the Farmers Auto, CMP and Workers Compensation program platform
  • Drives the overall strategic vision for new and existing business through collaboration with the Product development team.
  • Work with Product 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
  • Work with Kraft Lake to understand declined risks, align strategy, and support underwriting decisions on expansion/contraction of appetite
  • Work with the Government Relations team to promote regulatory reform to enhance Farmers’ competitive positioning in the territory
  • Manage Growth Initiatives team, which plays a key role in driving cross-functional collaboration between Business Insurance and both Distribution & Marketing
  • Work with Field Operations in order to optimize the implementation of Commercial product changes and to help the Field in measurement and tracking of key initiatives
  • Implement product and pricing changes which simplify the agent quoting process and enhance our customer satisfaction
  • Receive approval for filings of Commercial Lines rates/forms/rules from Departments of Insurance
  • Design a pricing strategy aimed at meeting our corporate profitability goals while continuously enhancing our competitive position
Physical Actions 
  • Upwards of 30% travel expected for the role.  Requires managing teams based on both Woodland Hills, CA and Independence, OH.  
Education Requirements 
  • Four year college degree (preferred)
  • Insurance education such as CPCU or related courses 
Experience Requirements 
  • 5 years leadership experience with large operations
  • 10 years Business Insurance industry experience preferably with underwriting and/or field management experience
  • Experience managing/developing a senior group of managers, underwriters and operations/service center personnel
Special Skill Requirement 
  • Role requires a thorough comprehension of business insurance and its key disciplines and processes including insurance products, coverages, underwriting guidelines, servicing needs, etc.
  • Must be skilled and knowledgeable in relationship management and communication with key business executives
  • Ability to effectively interact with all levels of Farmers internal and external business partners
  • Ability to deal with ambiguous situations and issues
  • Creativity in resolving unique and challenging business problems
  • Ability to manage teams across time zones with consistent execution
  • Ability to achieve results by taking a proactive long-term view of business goals and objectives
  • Knowledge of Insurance Code and Code of Regulations and compliance requirements, product and pricing techniques
  • Understanding of the impact of global and local economic and regulatory trends on the insurance market place
  • Extensive knowledge of competitive product and pricing techniques and new product offerings
  • Critical thinking skills are required
  • Understanding of actuarial disciplines needed to effectively manage product profitability
  • Understanding of contracts
  • Excellent verbal and written communication skills
  • Ability to negotiate with field sales force and departments of insurance
  • Public speaking is required
  • Ability to develop strategic long terms plans and implement tactical moves to execute them

Farmers is an equal opportunity employer, committed to the strength of a diverse workforce. 

Schedule: Full-time

Job Posting: 03/09/2020

Other Locations: United States, California, Woodland Hills