Product Development Business Partner
New York , United States
Your jobProduct Development Business Partner
We are open to this role being located in: NYC, Princeton, Philadelphia, Chicago, or San Francisco
We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.
The Insurance Operations
Munich Re US has launched a new insurance operations described as Munich Re Specialty Insurance (MRSI) that unites the strengths and expertise of Munich Re’s specialty commercial teams in North America. This allows for the development of an overarching sales strategy through which the specialty risk appetite and product offerings can be profitably optimized and expanded.
As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.
Future focused and always one step ahead
This Product Development Business Partner role will support our US underwriting teams by drafting and amending policy forms, liaising with the regulatory and operations teams during the form filing process, and collaborating with claims and underwriting teams. This role reports to the Head of Product Development.
In this position you will:
- Create insurance coverage forms for multiple business units and coverage lines, including General Liability (Casualty, Excess and Umbrella), Commercial Auto, Workers Comp and Professional Liability (including Lawyers Professional and A&E).
- Remain apprised of U.S. case law, regulations, legal trends and emerging issues affecting reinsurance coverage matters.
- Compare and analyze competitor insurance policies, providing a competitive edge, best-in-class products and deliberative underwriting.
- Research, develop and maintain coverage forms and endorsements needed to support new and existing products to meet industry developments and trends.
- Perform industry and regulatory research to support client needs and product compliance, and coordinate special projects to support strategic goals, as needed.
- Provide thought leadership and product support to assigned business lines including analyzing industry trends, regulatory developments and product innovations.
Your profileSuccessful candidates will possess the following experience/skills/qualifications:
- Juris Doctor Degree from an accredited law school preferred.
- 6-10 years advanced experience of products, concepts and procedures relating to insurance industry and product development from previous law firm or relevant insurance company experience in product development, claims or progressive underwriting experience.
- Extensive knowledge of product development process and product knowledge based on previous law firm or relevant insurance experience in product development or claims in Standard, Specialty, Primary and Excess lines of business, including sophisticated underwriting applications and techniques.
- Strong command of general insurance product concepts, regulatory concepts, legal concepts, along with a strong collaborative, proactive and self-starter nature
- Superior interpersonal, communication, and time management skills
- Solid ability to contribute in a dynamic, fast-paced environment and effectively deliver on multiple priority matters
At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company - that's among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.
As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help you stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.