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With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.
VP, Product Line Management
Department: Corporate Underwriting
Reports to: SVP, Product Line Management
The Vice President, Corporate Underwriting Product Line Manager is responsible for providing leadership, direction and advice to business units writing/coordinating the Property and Casualty lines of business.
Major Duties And Responsibilities
On behalf of Corporate Underwriting, and working with the CUOs and business unit leadership, assure we have developed comprehensive underwriting strategies by line of business in support of business initiatives and overall profitability. As Arch writes the same product in several business units, the Product Line Manager leader is charged with understanding those portfolios, highlighting inconsistencies in underwriting approach, and partnering with Business Unit Leaders to resolve and provide guidance, and support sound business solutions. Participate in training on various Line of Business topics. Consult with product development and compliance as they develop policy language to address coverage concerns.
An initial key function for the role will be establishing credible support function for Line of Business Management. Long term success is to create expertise in the Product Line Management unit of Corporate Underwriting and ensure we assist Business Units to achieve their business plan profitably. Duties and Responsibilities include:
• The key resource for underwriting guidance and expertise for all business units in support of Arch’s underwriting including insights into coverage nuances in response to emerging issues and current litigation, and tailored responses to industry niche coverage concerns. This includes the preparation of reports and white papers on issues and trends that have impact across the Arch Insurance organization.
• Create and implement underwriting guidelines, principles, and best practices applicable to the lines of business across the organization in conjunction with business units and the senior management team of the business units. This is distinct from business unit guidelines that relate to specific business unit issues and strategies, which are the sole province of the business unit. Be an active partner in implementation of those strategies to ensure that the underwriting team is fully cognizant of Arch best practices and those precepts embedded in the strategy. Where there are conflicting approaches among business units for the line of business, present options to senior management to adjudicate the preferred approach and communicate the decision reached.
• Partnering with other areas of the organization, i.e. claims, actuarial in order to have a deep understanding of the claim history within the Lines of Business for Arch and the industry to understand the loss drivers by coverage and to be able to address them with language enhancements while also providing technical solutions and direction.
• Analyze market needs and trends as they impact underwriting initiatives and provide competitor information to management & underwriting staff.
• Provide guidance to Product Development in creation of wordings to address ongoing coverage concerns, requests for manuscript wordings, and other key drivers that ensure our policy wordings are accurate and up-to-date. Identify operational improvements to create efficient product delivery and best in class customer experience.
• Participate on global and local line of business councils to identify common themes as well as potential strategies across the Arch Insurance Group. This includes discussion of emerging issues, coverage concerns, underwriting guidelines/strategies with applicability across business segments and geographies.
• Provide hands on review, management, and advice for any business unit undertaking a new venture.
Qualifications
A senior level underwriter and leader, with 15+ years of experience as both a field underwriter and at the Corporate/Home Office level. This person requires an expert level of technical expertise in General Liability, Umbrella/Excess, Workers Compensation, Property and Auto Liability. Able to effectively communicate issues and concerns into concise policy documents such as white papers and guidelines, and communicate strategies, concerns, and issues to Arch Insurance senior leadership. Ability to work with and influence senior executives, business unit leadership, and underwriting support units to enable a highly coordinated approach to the lines of business.
Abilities/Competencies
• Expert level technical ability on the Property and Casualty lines of business.
• Knowledge of emerging issues in the Property and Casualty insurance marketplace.
• Adept at building and managing teams of specialized, technical experts
• Ability to think strategically – plan our future.
• Demonstrated organizational agility in working across business units, as well as other service units (e.g. Operations, Product Development, Compliance, IT, Actuary)
• Ability to effectively communicate at all levels across the organization.
• In terms of Arch Experience Values –“Be the Solution” and “Be Passionate about the Voice of the Customer” – in this case the Arch business units – while balancing the need for consistency and efficiency in the organization.
For individuals assigned or hired to work in California, Colorado, Hawaii, Jersey City, NJ; New York State; and/or Washington State, the base salary range is listed below. This range is as of the time of posting. Position is incentive eligible.
$180,000 – $240,000
• Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above range may be modified in the future
• Click here to learn more on available benefits
Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn’t the right fit but you’re interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch’s Talent Acquisition team.
