Summary
We are seeking to hire a Product Development Director to be based out of our London office.
The role will provide technical expertise and leadership within the product development area. Responsible for all Product Management across all CNA Hardy geographies (12 POS/jurisdictions and 10 languages across the Company and Lloyds underwriting platforms).
Key Responsibilities
- Directs and coordinates activities with senior management to ensure efficient, effective and timely service to internal and external customers. Confers with senior management to formulate and ensure adherence to compliance and operational policies and procedures. Works with management to develop financial plans and budgets.
- Drives the enhancement and supplements the offering of the product development function as a market leading resource for product development, working with colleagues to implement the strategic goals of the business.
- Liaises with multiple functions in global offices directing strategy for Product development.
- Accountable for development and update of all products to include the review and approval of all standard policy documents; phase in approval of all non-standard policies; take on non-product work and special projects as able.
- Oversees and approves standard policy documents updates; manages a team who create supporting documentation to include coverage matrix, key facts, schedules and endorsements.
- Reviews and approves all standard broker policy documents.
- Drives the production of guidelines and checklists to assist Underwriters in reviewing and approving non-standard documents.
- Directs the work activities of staff to support policy issuing system development and internal policy systems.
- Collaborates with the legal function to monitor coverage litigation and update standard policy documents.
- Responsible for refining standard policy documents, rationalising Definitions and General Conditions, building up precedents.
- Comply with all applicable legal and regulatory requirements and ensure, at a level appropriate to the position, that appropriate measures are in place to ensure this compliance
- Manages a team of Product Development Advisers to deliver organizational product development objectives.
- May perform additional duties as assigned.
Skills, Knowledge & Experience
- Excellent collaboration skills - someone who can work well with Underwriting and Claims, and our Continental and US teams; can do training presentations
- Project management skills - can manage multiple wordings / classes simultaneously and take responsibility for delivery of their own workload with limited supervision
- Analytical skills - issues are identified and assessed within a commercial framework quickly
- Proven expert knowledge of insurance business including product development, underwriting, claims, legal, and regulatory.
- Ability to resolve short term problems while supporting long-term objectives.
- Strong interpersonal skills required to interact effectively with relevant business areas and external contacts.
- Strong organisational skills.
- Solid computer skills including strong working knowledge in Microsoft Office Suite, Adobe, and other business related software systems.
- Strong knowledge of commercial and standard insurance contracts, coverage, and regulatory issues.
- Expertise in policy drafting essential across all lines
- Previous experience to include creation and drafting of insurance products from scratch
- Appropriate knowledge of all relevant regulatory and legal requirements applicable to the position
- More than 10 years practical experience in an insurance company or broker is desirable, or with a law firm specialising in insurance, dealing specifically with drafting, reviewing and advising Underwriters and/or Claims Technicians in connection with insurance policy wordings.
The Company
CNA Hardy is a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets. We offer a highly specialised and comprehensive portfolio of innovative and market leading products. Coverage is available to businesses of all sizes for domestic, international and global exposures.
