Rating Plan Development Director at Nationwide Mutual Insurance Company

If you’re passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

Rating plan development is critical to Nationwide success for Property, enabling profitable growth and preventing adverse selection.  Our strategies to implement segmentation for our Property products, including optimal solutions for new and renewal customers as well as consideration for not just Homeowners but Tenant, Condo and Dwelling Fire, will evolve with the industry as new learnings come from climate change, population movement and our Protector focus.

As a Director, you'll lead a team responsible for the long-term strategy development and innovative design of our property rating plan.  You’ll also be accountable for partnering primarily with Pricing and Technology to ensure currency of the rating plans and timely, quality updates are brought to market on a regular cadence.  You'll direct all aspects of the segmentation lifecycle:  research, analyze, build, deploy, monitor.  You'll also be responsible for day-to-day operational and staff management and accountable for business results.

Key Responsibilities:  

Provides thought leadership to influence our property product’s long-term strategic priorities and goals.  Provides strategic direction and ensures strategic objectives are met.  Proactively seeks out opportunities to interact with other business partners to ensure stakeholder alignment. Recognized across the organization for expertise in rating plan knowledge and insurance products.

Leads team of product development professionals who have subject matter expertise with property rating plan.  Manages all activities and functions of the team who designs, develops, and manages deployment and updating of new and innovative rating plan solutions. Oversees team responsible for all phases of the process including many that do not report to them directly.  Leads the development and gains alignment on funding, resource planning, and consensus for a multi-year plan for rating plan updates.  Responsible for ensuring highest priority initiatives are delivered with high quality.  

Leads broad working teams that explore and advance pricing segmentation approaches/methodology/in-market rating through machine learning and traditional methods. This includes pricing for new rating features as well as the identification/testing of potential new rating characteristics, data, plans and models that would differentiate Nationwide in the marketplace.

Ensures ongoing consultation and collaboration with business partners to advance the customer experience.  Partners to evolve the customer experience to effectively support program advancements throughout the entire customer journey including billing, claims and app experiences.

Directs a variety of collaborative relationships with vendors, partners, and suppliers to support product development efforts, including vendor selection for new features in the rating plan. 

Provides associate management including performance, salary planning and administration, training and development, workflow and organization planning, day-to-day management, hiring and placement and disciplinary actions for direct and possibly indirect reports.


May perform other responsibilities as assigned.  

Reporting Relationships: Typically reports to AVP, Product Development and Delivery - PL.  Manages a team of 4-6 professionals (Product Consultant, Business Info Spec Lead).

Typical Skills and Experiences:  

Education: Undergraduate degree in mathematics, actuarial science, business, finance, marketing, economics, or related technical field preferred. Graduate studies in related areas preferred.

License/Certification/Designation: ACAS or FCAS designations highly desired. Process-related certifications preferred. Product-related technical insurance course work (CPCU, CPU, LOMA) preferred.

Experience: Typically, ten or more years in product development, pricing, innovation, or operations preferred. Experience leading teams, complex projects, and vendor management desired.

Knowledge, Abilities and Skills: Demonstrated expertise of property and casualty insurance products, actuarial methodologies, and insurance concepts. Strategic and innovative lens to develop solutions needed in the future.  Displays command of legal and regulatory requirements in area of assignment as well as pricing procedures and methodologies. Excellent understanding of business and market trends to support program design and levers to improve performance. 

Ability to manage people and projects. Excellent relationship building and collaboration skills. Excellent verbal and written communication skills to effectively collaborate, influence others, present information and communicate with leadership.  Conveys messages effectively to all audiences using creative approaches.  Ability to clearly articulate findings and recommendations.  Demonstrated ability to build consensus, lead groups to decisions, and champion projects to completion.  Leadership skills evidenced by the ability to get results through other people.  Administrative ability to plan, coordinate and assess the work of others, and strong personnel leadership skills to train, develop and empower staff.
Other criteria, including leadership skills, competencies and experiences may take precedence. 
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Job Description Summary

Our work is essential to helping Nationwide build future capability to serve customer needs. Keeping existing products relevant and marketable and building new products takes research, critical thinking, practicality and collaboration. If you enjoy gathering input and information, working independently and on a team and creating innovative solutions for customers, we want to know more about you!

As a Director, you'll lead a team responsible for developing new personal or commercial insurance line products and making enhancements to existing products. You'll lead all aspects of the design, build, launch, and iterative development efforts to ensure effective design, development, pricing and integration into product offerings. You'll be responsible for day-to-day operational and staff management of product development and accountable for business results.

Job Description

Key Responsibilities: 

• Manages all activities and functions of a staff who designs, develops configuration, customization, deployment and updating of new and innovative personal or commercial lines products and significant improvements to current products. Oversees staff responsible for all phases of the process.

• Directs a staff that leads projects that explore and advance pricing segmentation approaches/methodology. This includes pricing for prototype products under development and enhanced product offerings, as well as the identification/testing of potential new rating characteristics that would differentiate Nationwide in the marketplace.

• Leads the development and gains alignment, funding, resource planning, and consensus for a multi-year plan for larger product innovations like Telematics and SmartHome.

• Supervises efforts to improve the customer adoption rates of new product introductions/improvements. Partners with field product, sales activation, customer service, marketing, digital and IT to achieve growth objectives and expense targets.

• Leads team of product development professionals who provide subject matter expertise on products and/or new programs focused on identifying and anticipating customer needs.

• Leads the initial launch of new products and/or product enhancements and continued development of the product. Ensures ongoing consultation and collaboration with core business partners from across the company for a successful product launch and customer experience. Leads the team that creates the business case, acquires the needed funding and is accountable for business results.

• Directs a variety of collaborative relationships with vendors, partners and suppliers to support product development efforts, including vendor selection and management for new products and initiatives. Leads service evaluations regarding a variety of outside consulting service vendors.

• Leads major projects and may serve as the business delivery executive. Recognized across the organization for expertise in product development.

• Provides associate management including performance, salary planning and administration, training and development, workflow and organization planning, day-to-day management, hiring and placement and disciplinary actions for direct and possibly indirect reports. 

May perform other responsibilities as assigned.

Reporting Relationships: Reports to Associate Vice President or Vice President. Direct reports typically include senior consultant and below insurance product professionals.

Typical Skills and Experiences: 

Education: Undergraduate degree in mathematics, actuarial science, business, finance, marketing, economics or related technical field preferred. Graduate studies in related areas preferred.

License/Certification/Designation: ACAS or FCAS designations highly desired. Process-related certifications preferred. Product-related technical insurance course work (CPCU, CPU, LOMA) preferred.

Experience: Typically, 10 or more years in product development, pricing, marketing or operations preferred. Experience leading teams, complex projects and vendor management desired.

Knowledge, Abilities and Skills: Demonstrated expertise of property and casualty insurance products, actuarial methodologies and insurance concepts. Displays command of legal and regulatory requirements in area of assignment as well as pricing procedures and methodologies. Excellent understanding of business trends to support process design and operations to improve performance. In-depth understanding of insurance and financial services industry, focusing on the Nationwide enterprise and key competitors. Ability to manage people and projects. Effective verbal/written communication skills. Solid understanding of actuarial concepts and other sophisticated statistical concepts. Demonstrated ability to build consensus, lead groups to decisions, and champion projects to completion.

Other criteria, including leadership skills, proficiencies and experiences may take precedence.

Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.

Values: Regularly and consistently demonstrates the Nationwide Values.

Job Conditions: 

Overtime Eligibility: Exempt (Not Eligible)

Working Conditions: Normal office environment. Occasional travel. Non-standard or extended work may be required based on project needs.

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people to perform a somewhat different combination of duties. 

Benefits

We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here.

Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.

Smoke-Free Iowa Statement: Nationwide Mutual Insurance Company, its affiliates and subsidiaries comply with the Iowa Smokefree Air Act. Smoking is prohibited in all enclosed areas on or around company premises as well as company issued vehicles. The company offers designated smoking areas in which smoking is permitted at each individual location. The Act prohibits retaliation for reporting complaints or violations. For more information on the Iowa Smokefree Air Act, individuals may contact the Smokefree Air Act Helpline at 888-944-2247.

NOTE TO EMPLOYMENT AGENCIES:

We value the partnerships we have built with our preferred vendors. Nationwide does not accept unsolicited resumes from employment agencies. All resumes submitted by employment agencies directly to any Nationwide employee or hiring manager in any form without a signed Nationwide Client Services Agreement on file and search engagement for that position will be deemed unsolicited in nature. No fee will be paid in the event the candidate is subsequently hired as a result of the referral or through other means.

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