UPC INSURANCE Product Manager (Personal Lines Insurance) Salary in the United States

How much does a Product Manager (Personal Lines Insurance) make at companies like UPC INSURANCE in the United States? The average salary for Product Manager (Personal Lines Insurance) at companies like UPC INSURANCE in the United States is $123,763 as of August 27, 2021, but the range typically falls between $104,711 and $142,814. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.  View the Cost of Living in Major Cities

About UPC INSURANCE

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What does a Product Manager (Personal Lines Insurance) do at companies like UPC INSURANCE?

Overview

Summary:  The Product Manager is responsible for meeting company growth and profitability goals for the Homeowners and Dwelling Fire programs in their designated states and/or regions. The Product Manager is responsible for product analysis, research and development, and management of loss and expense ratios and reinsurance costs. The Product Manager will work with Senior Management to develop the annual business plan for the residential programs.

 

Organizational Relationships: The Product Manager reports to the Director of Product Management. This position also has regular contact with the company’s vendors, as well as all other company departments.

Responsibilities

  • Conduct regular periodic in-depth loss analysis of the Homeowners and Dwelling Fire programs
  • Implement and monitor ongoing portfolio optimization process in order to minimize reinsurance costs
  • Lead product development efforts for new state/product launches and closely support delivery partners in Project Management Office, Sales, Marketing, Claims and other departments
  • Work with the company’s actuarial team for all rate filings of the products
  • Make other filings as needed that do not involve the necessity of using the company’s actuary
  • Perform ongoing periodic rate and product reviews
  • Conduct market analysis for competitive positioning and rate making as needed
  • Work regularly with Chief Revenue Officer, Chief Operations Officer, Chief Claims Officer, Director of Underwriting, Sales Directors and Regional/Territory Managers to constantly evaluate market, product features, and forms.
  • Work with internal and external partners to implement changes to the products
  • Other duties or projects not defined in this position description as directed by the Executive Team and/or Product Management leadership

Qualifications

Education and/or Experience:  Several years insurance industry experience, with a minimum of five in Product Management; college degree preferred.

 

Certificates/Licensure: Insurance industry designations helpful but not required.

 

Competencies:To perform the job successfully, an individual should demonstrate the following behaviors:

  • Motivation/Initiative: Motivated and curious, willing to ask questions, research issues and take on challenging projects/assignments; creative, brings new ideas to the table, exhibits self-confidence. Has strong achievement motivation and tenacity.
  • Administrative Skills: Possesses ability to organize and follow-through on multiple tasks, recognizes and attends to important details with accuracy and efficiency, effectively prioritizes work of staff members. Works to complete goals, tasks and plans, anticipates potential problems and analyzes alternative solutions.
  • Interpersonal Style: (Interpersonal Skills, Communication, Teamwork); develops/ maintains effective working relationships; listens attentively to others; communicates ideas clearly (written & verbal); relates to people in an open/ sincere manner; participates effectively in meetings; assists in finding solutions as well as identifying problems; communicates appropriately with supervisor, managed staff and co-workers. Able to manage other individuals and maintain calm and reliable demeanor in the face of challenges.
  • Self-Management: (Adaptability/Flexibility, Stress Tolerance, Autonomy); adapts readily to changes in routine; works effectively in stressful situations; needs limited guidance and direction; is comfortable working in a fast paced environment; is reliable and dependable; is results-oriented; maintains productivity and composure under pressure; views problems as opportunities to create solutions.
  • Thinking Skills: Diagnoses problems efficiently; gathers sufficient input before making decision or plans; makes timely decision, quickly determines sources of problem, identifies information needed to solve problem and analyzes alternative solutions, communicates issues and decisions effectively to team.
  • Customer Orientation: Sensitive & responsive to internal and external customer needs; demonstrates skills in customer services and satisfaction; maintains a positive attitude, willing to listen to customer problems and seeks solutions; stays in tune with changing needs of customers.

 

Environmental Demands: The duties of this position are typically performed in an office setting. There may be some minimal road and air travel involved. 

 

Physical Requirements: This position requires minimal physical exertion. However, in order to properly perform the functions of the job, good speaking and hearing skills are required.

 

Mental Requirements: Skills necessary for the effective performance of this position’s job functions include: decision-making and analytical abilities, excellent interpersonal skills, effective problem-solving, oral and written communication capabilities, ability to fully utilize computers and computer programs.

 

Equipment Used: Computers, calculators, telephones.

Check out Product Manager (Personal Lines Insurance) jobs in Virginia

Product Manager, Revenue Cycle Management

Change Healthcare - Annandale, VA

Personal Lines Account Manager

The Jonus Group, LLC - Chantilly, VA

Product Manager, Insurance N.A. Segment

S&P Global - Charlottesville, VA

Account Executive Personal Lines

Executive Placements, LLC. - Columbia, VA

$104,711 Low Average $123,763 High $142,814

Understand the total compensation opportunity for Product Manager (Personal Lines Insurance) at companies like UPC INSURANCE, base salary plus other pay elements

Average Total Cash Compensation

Includes base and annual incentives

$104,711
$142,814
$123,763
The chart shows total cash compensation for the UPC INSURANCE Product Manager (Personal Lines Insurance) in the United States, which includes base, and annual incentives can vary anywhere from $104,711 to $142,814 with an average total cash compensation of $123,763. Total compensation includes the value of any benefits received in addition to your salary and some of the benefits that are most commonly provided within a total compensation package including bonuses, commissions, paid time off, and Insurance. The total cash compensation may get paid differently by industry, location, and other factors.
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