Insurance Product Development Specialist at Richmond National
Richmond National · Glen Allen, United States Of America · Onsite
- Professional
- Office in Glen Allen
Job Title: Insurance Product Development Specialist
Location: On-site in Glen Allen, VA
Responsibilities:
Product Design & Innovation
Preferred Qualifications:Skills and Experience
Location: On-site in Glen Allen, VA
Responsibilities:
Product Design & Innovation
- Lead the development of new commercial lines insurance products and enhance existing products.
- Translate underwriting strategies into policy forms and coverages, endorsements, applications and related materials.
- Monitor market trends, competitor offerings, and legal/regulatory/judicial changes to inform product enhancements.
- Draft and review policy forms and endorsements to ensure legal soundness and clarity.
- Coordinate within internal legal and compliance department to validate state-specific regulatory adherence.
- Partner with actuarial to align form language and risk appetite.
- Support underwriting and claims with coverage interpretations, training, and documentation.
- Collaborate with IT and operations teams to implement policy changes into systems and processes.
- Lead internal initiatives for product standardization, innovation pilots, or compliance audits.
Preferred Qualifications:Skills and Experience
- Bachelor's degree and 3+ years of commercial lines insurance experience, and/or equivalent combination of education and relevant insurance experience.
- 3+ years in a product development, claims, underwriting, coverage, or related role.
- Expertise in policy or contract drafting, coverage analysis, and/or insurance law interpretation or contract law interpretation.
- Exceptional drafting, communication, and analytical skills.
- Familiarity of insurance regulatory frameworks across states.
- Familiarity with ISO Forms.
- Proficiency in Microsoft Office.
- Experience with product lifecycle management tools (i.e. Mozart) is a plus.
