Product Manager - Insurance Services

Career Area:

Finance

Job Description:

Your Work Shapes the World at Caterpillar Inc.

When you join Caterpillar, you're joining a global team who cares not just about the work we do – but also about each other.  We are the makers, problem solvers, and future world builders who are creating stronger, more sustainable communities. We don't just talk about progress and innovation here – we make it happen, with our customers, where we work and live. Together, we are building a better world, so we can all enjoy living in it.

Role Definition

• Manages portfolio volume and profitability for covered industries or products.

Responsibilities

• Drive strategy and advocate for product specific needs, partnering on rate and non-rate action to address indication, gain strategic alignment, and ensure compliance.
• Partner cross functionally to deliver competitive and profitable products, as well as launch new products in support of the Enterprise, the Dealerships and our End Customers.
• Preparing proposals and insurance summaries based on evaluation of client coverage needs.
• Building and maintaining strong relationships with clients and insurance carrier representatives and resolving customer inquiries.
• Developing programs and products, implementing robust pricing, risk validation, enrollment and documentation processes.

Consideration for Top Candidates:

• Previous experience leading a team and actively shaping company culture
•  Product management for medium to large business accounts.
•  Ability to engage, influence, and leverage resources across the broader organization to drive desired vision and outcomes.
•  Advanced research, statistical, analytical, processing and mathematical skills with ability to structure and conduct analyses.

Skill Descriptors
Products and Services: Knowledge of major products and services and product and service groups; ability to apply knowledge of product and service appropriately to diverse situations.
 Level Extensive Experience: 
•    Oversees development activities for multiple products or product lines.
•    Develops procedures for product planning, development, and delivery cycles.
•    Promotes understanding of multiple product and service groups and their interdependencies.
•    Monitors regulatory and environmental issues and considerations.

Risk Management: Knowledge of processes, tools and techniques for assessing and controlling an organization's exposure to risks of various kinds; ability to apply knowledge of risk management appropriately to diverse situations.
 Level Working Knowledge: 
•    Produces and interprets common risk assessment and management reports.
•    Identifies common technology, security, or financial risks relevant to own function or unit.
•    Implements or manages risk management for own area.
•    Evaluates risk assessment models and techniques relevant to a specific line of business.

Communicating Complex Concepts: Knowledge of effective presentation tools and techniques to ensure clear understanding; ability to use summarization and simplification techniques to explain complex technical concepts in simple, clear language appropriate to the audience.
 Level Extensive Experience: 
•    Introduces technical terminology to listeners in the context of the product or service.
•    Uses effective analogies to help an audience understand a novel feature of a product or service.
•    Explains important details as they relate to the basic value of the product or service.
•    Approaches communication challenges from various angles to find the one that works.

Customer/Market Focus: Understanding of the importance of remaining aware of shifting market priorities and ability to respond to internal and external customer needs in a manner that consistently adds value.
 Level Extensive Experience: 
•    Implements improvements to methods for maintaining customer responsiveness.
•    Recommends new products and services based on changing customer needs and success criteria.
•    Responds proactively to market and competitive shifts so as to maintain advantage.
•    Delivers superior customer value consistently and within targets.
•    Negotiates successful outcomes on behalf of difficult or dissatisfied customers.

Commercial Insurance: Knowledge of commercial insurance products, market segments and marketplaces; ability to enable a more effective application of the insurance organization's business.
 Level Basic Understanding: 
•    Explains the basic concepts and terminology of commercial insurance.
•    Demonstrates what primary market segments and product lines are in commercial insurance.
•    Lists major types of commercial insurance products and compares their characteristics.
•    Describes the channels through which commercial insurance products are sold.

Knowledge of Insurance Operations: Knowledge of the full spectrum of activities, practices, tools and considerations for insurance operations; ability to apply knowledge of insurance operations to provide administrative support to the insurance business.
 Level Working Knowledge: 
•    Explains the various roles and functions of insurance business units.
•    Assists in a specific stage of the insurance support process using standard guidelines.
•    Uses key tools, systems and processes to support business insurance operations.
•    Follows laws and regulations to implement basic administrative support for insurance operations.

Property and Casualty Insurance: Knowledge of concepts, features and benefits of property and casualty insurance; ability to utilize knowledge of property and casualty insurance in the insurance products development, marketing, sales and other related functions.
 Level Working Knowledge: 
•    Follows best practices and standard operating procedures regarding property and casualty insurance underwriting and claim processing.
•    Researches key competitors, products and clients in the property and casualty marketplace.
•    Discusses key characteristics of various property and casualty insurance products.
•    Assesses existing property and casualty insurance finances and accounting mechanisms.

Addressing Customer Needs: Knowledge of the principles and practices for addressing customer needs; ability to meet customer needs by offering appropriate products in an appropriate manner.
 Level Basic Understanding: 
•    Describes the basic offerings of a product line and their primary features.
•    Identifies the flexible product features that may help meet specific customer needs.
•    Compiles a list of different product features and how they may or may not be significant to different customers.
•    Researches different types of customers and how to address their various needs.

Relocation is available for this position.Visa Sponsorship is not available for this position. This employer is not currently hiring foreign national applicants that require or will require sponsorship tied to a specific employer, such as, H, L, TN, F, J, E, O. As a global company, Caterpillar offers many job opportunities outside of the U.S which can be found through our employment website at www.caterpillar.com/careers.

Posting Dates:

June 25, 2024 - July 9, 2024

Any offer of employment is conditioned upon the successful completion of a drug screen.   

EEO/AA Employer.  All qualified individuals - Including minorities, females, veterans and individuals with disabilities - are encouraged to apply.

Not ready to apply? Join our Talent Community .