Product Development Expert - Cyber - Allianz - New York

Job description

We are looking for a Product Development Expert based in either New York or Chicago.

The Impact You Will Have

This role will support the efforts and execution of the Product Development strategy for the North American Cyber, Tech & Media practice as led by the Regional Head of Cyber, Tech and Media for NA in collaboration with the Regional Product Head of Financial Lines NA and as supported by the Global Line of Business (LoB) Head and Global Product Development. The position will support the efforts to strategically drive the innovation and execution of refreshed or new product offerings as well as customized wording for specific accounts. Will work collaboratively with Underwriting, Claims and Legal teams to create and define a market leading presence for product innovation in the Cyber sector. Additionally, this role will liaise with a panel of value-added service providers for Allianz cyber policyholders and support consideration and selection of new service providers or service offerings.

Some of your specific responsibilities could include:

Develop, implement, and modify products (Line of Business specific or cross-line), standard wordings and coordinate product-specific organisational matters of LoB with PCs, Regions etc.

Ensure global knowledge sharing with regard to special products/enhancements, specific UW knowledge for LoB Products.

Develop, define North American Product and Services Strategy in accordance with the underwriting strategy as defined by the Regional LoB Head as supported by the Global LoB Head.

Represent CUO LoB internally and externally to customers, brokers, service providers, the industry, and other organisations.

Identify litigation trends, coverage trends, market developments incl. market potentials and clients.

Monitor new (legal) developments, coordinate and steer regional / country issues (e.g. liability and insurance law development).

Make suggestions for UW authorities for special products to Head of Cyber and Head of Financial Lines.

Enhance and refine underwriting of products during the introduction period (including claims monitoring, sales support and portfolio monitoring).

What You’ll Bring to the Role

5-7 Demonstrable track record of product development.

5-7 Experience of working internationally with strong ability for cross border adaption.

Comprehensive technical knowledge of LoB products, coverages, underwriting practices, pricing processes and sales distribution channels.

Risk Assessment and Management: ability to assess risk exposures and hazards relevant to Cyber, Tech and Media E&O.

Portfolio Management: assist the Regional Head of Cyber to analyze trends and scenario plans with respect to Product.

Contract Drafting and Interpretation: design, develop and implement consistent, robust wordings.

Pricing: analyze current performance against various benchmarks with a view to ensure adequate progress and satisfactory performance in product wordings including specific terms and conditions.

Bachelor’s Degree, preferably degree in Law, or comparable discipline.

Preferably completion of professional insurance qualification (e.g. CII).

Experience in applying artificial intelligence (AI) and machine learning (ML) to improve business processes and decision-making is preferred.

The annual base salary range base pay range for this role is $121,188 - $217,550. The annualized represents a nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role, the skills, education, training, credentials and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

Offers “Allianz”

Job description