We are looking for an insurance product leader with a proven ability to develop, and maintain outperforming insurance products
Cover is a national insurance brokerage, licensed in all 50 states, working with more than 35 carriers. We source our customers entirely from our iPhone and Android apps. Right now, we rank #1 for searches of insurance on the AppStore in Canada, and within the top 10 in the US on any given day. The company is backed by Y Combinator and many other world-class investors.
As an Insurance Product Manager, you will come armed with insurance industry knowledge, and requisite knowledge of insurance product development, rate analysis, and navigating a disparate regulatory environment. You will work with leadership across each function of the business to support the development of insurance products that are novel, reflect our values and are underwritten to a profit. You will do this alongside a team of colleagues who have founded and exited successful tech startups, and come from a diverse set of technology companies.
- You will own all aspects of insurance product development. You will build a team around you to develop a roadmap for state by state roll out, handle filings and provide rate analysis. This high-performing individual can be based out of our San Francisco or Toronto offices.
- You’re excited to work in an early-stage, entrepreneurial environment with high-caliber colleagues
- You are fired up to “go beyond” - working with select fronting and reinsurance partners to align economic interests, and align with outperformance of your products
- You want to get your hands dirty by learning (or improving at) what it takes to be an operator
- You can build relationships and work effectively across functions, to drive the development and implementation of insurance products you design
- You always have a perspective on what to do next, and can prioritize on the fly as new needs and information emerges
- You are experienced working with senior executives, and you know how to translate those interactions to tangible impact
- You can find information “where none exists” - including interviews, mystery shopping, and other creative methods of developing sources of insight
- You can absorb and synthesize information rapidly, separating the signal from the noise
- Selects, trains, and develops an effective high performing team of analysts
- Conducts performance appraisals, recommends salary adjustments, promotions and transfers.
- Monitors the quality and productivity of work within the unit, and recommends and implements changes on an on-going basis for improvement.
- Lead the research, analysis, and recommendations for final rate picks and product coverages.
- Manages filings and negotiates with Department of Insurance to gain approvals.
- Provides support on the development of state strategies by focusing analyst resources on value-added research and analysis. This includes comparative rater supplied data, competitive filings, system process, vendor products, and other elements.
- Keeps abreast of industry trends in the area of sales, losses, legal developments, coverage, packaging and distribution methods. Makes reports and recommendations as appropriate.
- Monitors trends in PL business including new business, quote and close rates, growth, profit, retention and customer profiles to identify needed changes.
- You will play a critical role in our go-to-market success, and beyond.
In your first 3 months on the job, you will:
- Begin to build a team of pricing and business analysts to support the development of product filings
- Take over key relationships with reinsurance partners, fronting carriers
- Interface with our policy administration software team to further refine our rating engines
- Assist in the development of rate filings, spot-check assumptions, start to work with respective DOIs to launch in our next set of states
After that, you will:
- Manage a team of highly analytical product, audit and compliance analysts of different levels
- Lead team that provides competitor analysis, filings, and and performs rate testing
- Manage projects that drive product development, pricing strategy, profitability and growth
- Help chart out a nationwide insurance product roll out strategy
- From here, you may:
- Lead all of insurance product development at Cover
- Move into Business Operations, Product, or Growth, where you may see opportunities to flex / expand a skillset
- Bachelor’s degree, preferably with an engineering or business focus
- Demonstrated knowledge of the Personal Lines Property and Casualty insurance industry including pricing, product, underwriting practices, and competitive analysis
- Experience working with DOI’s, internal and external legal counsel, and the management and execution of insurance filings
- Strong technical aptitude and attention to detail; can confidently project manage a complex effort with many moving pieces
- Excellent interpersonal skills; people want to hang out with you once they’ve met you, and your team members proactively seek your input and guidance
- Outstanding presentation, verbal, and written communication skills
- The ability to not be deterred - relentless in driving to impact
- Some additional, uncorrelated bit of “edge” that makes you stand out from an already exceptional field of talented candidates.
- Residence in or willingness to move to, the San Francisco Bay area or Toronto
Insurance is a very big business
There are hundreds of admitted insurance companies processing north of $500B in insurance premiums across all lines of property, life and specialty insurance in the US. Most of these companies operate on technology platforms built many decades ago. As a result, they suffer from glaring inefficiencies that are passed on to their customers in the form higher prices, poor customer and product experiences that haven’t adapted to the expectations of modern customers.
Our approach requires bringing service, analytics and technology together in an elegant way, and doing so in an industry that has historically lacked all three. This will mean applying creativity and flexibility to every interaction with customers and partners, while always looking for ways to make them - and, by extension, us - more successful.
Building a national insurance entity from scratch is something few people can claim to have done - you’ll be one of them. We’re passionate about bringing world-class product and consumer experiences to insurance, and financial services, building fair & sustainable products and delivering lasting value to our customers. We’re looking for people who won’t settle for less than building category-defining products.
We currently offer the following benefits and will continually evolve them with the goal of efficiently attracting, retaining, and leveraging the very highest quality talent:
Highly competitive salaries and stock option grants
Health, dental, for you and your family
Flexible work hours
Unlimited vacation policy
A slew of perks that make your life outside of work easier
We believe in equal opportunity.
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.