Willis Towers Watson
Insurance Product Development Technical Manager
Posted on Nov 1 Short Hills, NJ 1 view
The Role
- Knowledge in NCCI (and independent bureaus) for Workers Compensation from a rate, form and rule perspective, including experience with NCCI/Independent Bureaus rating and form manuals.
- Knowledge in all ISO products, casualty (auto, general liability, excess and umbrella) and property, from a rate, form and rule perspective, including experience with the ISO and NCCI/Independent Bureaus rating and form manuals.
- Experience in product (including endorsements) drafting for Casualty and Property lines of insurance and the development of rating rules as part of the admitted filing process.
- Experience in developing/reviewing/monitoring of state filing vendors, state filing process, SERFF process for all lines of insurance, including tracking/monitoring/responding to various filing objections/criticisms as part of the filing process.
- Assist with finding and implementing solutions for insurance products for new and existing policy forms in IT Solutions.
- Experience monitoring and implementing any needed maintenance filings for all admitted product rate and form filings.
- Experience with leading/coordinating closely with IT, Underwriting and other stakeholders to analyze and interpret static and dynamic policy forms and define rate and forms rules for system generation/automation.
- Work with Underwriting, IT and others to perform research and analysis and develop rate and form rules for insurance policy contracts, documents, specifications, requirements, letters, reports, records and/or filings that meet customer needs and are in compliance with state and federal laws.
- Submits approved company rates/forms/endorsements for system programming, including triaging new company forms/endorsements for proper System formatting and functionality.
- Submits approved rating changes or rating enhancements for programming after gaining clear understanding of underlying business need and desired functionality.
- Conducting periodic System utility/file Quality Control reviews to ensure that correct forms/endorsements and rating elements are programmed.
- Researching, discussing, trouble-shooting issues/problems raised by System users (underwriters, underwriting support representatives & raters) and suggesting and facilitating practical solutions.
- Retrieving, understanding and interpreting various System vendor information releases and communicating same to State Filings, Line of Business Managers, and others as appropriate.
- Promoting understanding of System capabilities and limitations.
- Assign and track form numbers, development and Management of a Product Development Library.
- Ability to draft Product Development memos, bulletins and other information related to product development matters.
The Requirements
- Familiarity and experience with applicable Casualty and Property state regulatory reporting obligations, including but not limited to: ALIR Commercial Auto reporting (mandatory and optional); NISS Licensed statistical reporting body for Property and Casualty; Unit Stat Work Comp reporting for audited exposures, premium and loss info; NAIC Auto Statistical reporting; State Supplemental reporting for the annual statement; and State Special Risk Report for NY special risks.
- Experience with responding to State Crits for WC, Auto and other lines around reporting (not product filings)
Compensation and Benefits
Base salary range and benefits information for this position are being included in accordance with requirements of various state/local pay transparency legislation. Please note that base salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).
Compensation
The base salary compensation range being offered for this role is $140,000 USD - $190,000 USD. This role is also eligible for an annual short-term incentive bonus.
Company Benefits
WTW provides a competitive benefit package which includes the following (eligibility requirements apply):
Health and Welfare Benefits:
Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)Leave Benefits:
Paid Holidays, Annual Paid Time Off (includes paid state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave), (Washington State only)Retirement Benefits:
Contributory Pension Plan and Savings Plan (401k). All Level 38 and more senior roles may also be eligible for non-qualified Deferred Compensation and Deferred Savings Plans. If Level 38 or more senior role is in Washington State, you must add the retirement benefits paragraph to the job description. Please note: Producer Sales roles are not currently eligible for the WTW Pension Plan.
