Financial Institutions Product Officer – New York, NY

Zurich North America is looking for a Financial Institutions Product Officer to join our Management Liability Insurance Team. This role will focus on helping to develop portfolio strategy and oversee and drive product development (new policy forms, endorsements, and products) and product/coverage innovation to help drive profitable growth and portfolio success. The Financial Institutions Product Officer will develop and coordinate product launch strategy for maximum market impact and will develop Communications and Marketing plans (product brochures, FAQ’s, brochures etc.).

We are looking for a thought leader, someone who can deliver innovation and thought leadership in the market place while increasing Zurich’s overall market visibility via panel participations, broker engagement and interfacing with brokerage counterparts to proactively identify, assess and capitalize on emerging issues within Financial Institutions and support development of broker customization.

Additional responsibilities for the Financial Institutions Product Officer include:

  • Working with market basket heads to evaluate strategy, determine and prepare business case and product value proposition.
  • Delivering competitive policy forms and coverage extensions that enable renewal retention, new business growth and profitability.
  • Tracking potential changes in law or emerging issues, determining if it is a risk or opportunity, determining options, recommending option to business leads, including impact and steps to implement.
  • Proactively drive opportunities & problems, with solutions, to Market Basket heads
  • Leading and coordinating product training for UWs
  • Having a deep understanding of claim inventory and what is driving claims-monitoring frequency, severity and pricing, working with underwriting and actuary to understand trend, impact and portfolio performance.
  • Maintaining/ updating underwriting guidelines while working with underwriting leadership to ensure underwriting guidelines reflect current underwriting strategy and appetite, maintaining consistency across MSG and Financial Lines where appropriate. Technical Director and MSG Head hold authority for guideline updates.
  • Maintaining an efficient inventory within the endorsement library. Monitoring manuscript usage to ensure endorsements are filed as appropriate
  • Leading an efficient manuscript endorsement process, ensuring endorsement drafting has contract clarity, consistency across departments where applicable and timely delivery of solutions. Ensuring strength in contract construction that can limit touchpoints.
  • Leveraging Data & Analytics, IT, Technical UW Product Management/Emerging Solutions to identify data or tools that can be incorporated into the underwriting process to improve ease of use, efficiency and UW decision maker
  • Identifying service provider opportunities (pre or post claim) that are value add and marketing benefit
  • Evaluating and communicating key underwriting/marketplace issues to peers and senior management staff

Basic Qualifications:

  • JD and 7 or more years of experience of law practice specializing in the insurance area

Preferred Qualifications:

  • Experience developing and coordinating product launch strategies along with communications and marketing plans
  • Advanced and in-depth experience underwriting multiple financial lines insurance products within the E&O and D&O space
  • Strong portfolio management, underwriting and/or product development skills
  • Experience working with actuaries, interpreting actuarial results including loss triangles and actual vs. expected loss reserving information
  • Excellent team building, influencing and organizational skills, along with strong presentation skills
  • Strong executive presence and the ability to interact with the C-Suite

Imagine working for a company that truly cares about their employees, customers, stakeholders, and communities they serve.

Imagine working for a values-driven organization that has the ambition and desire to be the best global insurance provider in the world.

Zurich is that place where 55,000 employees across approximately 200 countries and territories are all focused on helping people and helping companies protect what is truly most important to them. We are a values-driven organization that takes pride in the work that we do every day and we have the ambition to be the best global insurer in the world.

EOE disability/vets

Zurich does not accept unsolicited resumes from search firms or employment agencies. Any unsolicited resume will become the property of Zurich American Insurance. If you are a preferred vendor, please use our Recruiting Agency Portal for resume submission.

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