VP, Insurance Product Management

Insurance Product Management

Boston, MA

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Rated 4.7/5

(5056 reviews)

About NEXT

Location: Waltham, MA (hybrid)   NEXT’s mission is to help entrepreneurs thrive. We’re doing that by building the only technology-led, full-stack provider of small business insurance in the industry, taking on the entire value chain and transforming the customer experience.    Simply put, wherever you find small businesses, you’ll find NEXT.   Since 2016, we’ve helped hundreds of thousands of small business customers across the United States get fast, customized and affordable coverage. We’re backed by industry leaders in insurance and tech, and we still have room to grow — that’s where you come in.   The VP, Insurance Product Management will play a pivotal role in shaping the future of our insurance offerings. This individual will be responsible for leading the end-to-end lifecycle of our insurance product portfolio, from ideation and strategy to execution and optimization. As a key member of the leadership team, you will work closely with distribution channel leaders, engineering leaders and other cross-functional teams to create innovative products that meet the evolving needs of the insurance market. This role is pivotal in leveraging cutting-edge technology to transform our underwriting, pricing, and claims processes, harnessing the power of Generative AI and Machine Learning models to accelerate automation and drive innovation.   What You’ll Do:  <ul> <li>Product Strategy & Vision: Develop and execute a clear, forward-thinking insurance product strategy that delivers on business objectives and growth targets. Define and execute a roadmap for product launches, enhancements, and market expansions in both existing and emerging insurance verticals.</li> <li>Insurance Product Development: Lead the end-to-end insurance product development process, from market research through ideation, implementation and optimization <ul> <li>Collaborate with claims leaders to inform designs of insurance coverages </li> <li>Partner with engineering teams to design modular platform solutions and specify technical business requirements for agile, high quality insurance product delivery.</li> <li>Work closely with underwriting and actuarial teams to build proprietary and innovative rating and underwriting systems for effective risk segmentation and profitability.</li> </ul> </li> <li>Go-to-Market Strategy: Collaborate with distribution channel leaders to develop effective go-to-market strategies for all insurance products. Provide thought leadership and expertise to enable the successful positioning of products in the marketplace.</li> <li>Financial Performance: P&L accountability by line of business through ongoing management of insurance products, including all pricing and underwriting decisions, performance monitoring, and iteration based on data-driven insights. </li> <li>Risk & Compliance Management: Ensure all products comply with regulatory requirements and industry standards, working closely with legal and compliance teams to navigate the complex insurance landscape.</li> </ul>  Key Attributes: <ul> <li>Exceptional Collaboration Skills: Ability to engage with diverse teams and stakeholders, fostering trust and transparency while balancing competing interests.</li> <li>Emotional Intelligence: Strong interpersonal skills with a high degree of self-awareness, empathy, and tact in navigating difficult conversations and managing stakeholder dynamics.</li> <li>Conflict Management: Proven experience in diffusing tension and resolving conflicts productively, ensuring that all parties feel heard and valued.</li> <li>Strategic Influence: Skilled in influencing others through persuasion, understanding, and relationship-building.</li> <li>Accountability and Ownership: Takes decisive action to meet or exceed targets, continuously evaluating performance, and making adjustments when necessary to deliver impactful results.</li> </ul> What We Need:  <ul> <li>Experience:  <ul> <li>12+ years of experience in commercial insurance product management, with at least 6 years in a leadership role, ideally in an InsurTech or insurance company. </li> <li>Experience in managing complex, multi-disciplinary teams and driving product development from ideation to execution.</li> </ul> </li> <li>Deep Industry Knowledge:  <ul> <li>In-depth knowledge of the commercial lines P&C insurance industry, including products, underwriting, claims, distribution channels, and regulatory environment. </li> <li>Familiarity with emerging trends in InsurTech and digital transformation within insurance is highly desirable</li> </ul> </li> <li style="font-weight: 400;">Leadership: <ul> <li>Proven ability to lead cross-functional teams and navigate the complexities of working in a high-growth, fast-paced environment. </li> <li>Strong experience in setting strategic direction and delivering results.</li> </ul> </li> <li>Analytical Skills: Strong ability to analyze market trends, customer data, and product performance to inform decision-making and drive continuous improvement.</li> <li>Customer-Centric Mindset: A passion for creating user-centered, innovative products that solve real-world problems and improve the customer experience in the insurance space.</li> <li>Communication Skills: Exceptional written and verbal communication skills with the ability to effectively present to senior leadership, external partners, and cross-functional teams.</li> <li>Educational Background: Bachelor’s degree in Business, Finance, Insurance, or a related field (Master’s or MBA preferred).</li> </ul> Unstoppable Qualities:  <ul> <li>Experience working in a SaaS (Software as a Service) environment or building insurance products that leverage technology, AI/ML, and data.</li> <li>Understanding of actuarial models and pricing structures.</li> </ul>  <div class="content-conclusion">  Don’t meet every single requirement? Studies have shown that some underrepresented people are less likely to apply to jobs unless they meet every single qualification. At NEXT, we are dedicated to building a diverse, inclusive and respectful workplace, so if you’re excited about this role but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyways. You may be just the right candidate for this or other roles.   One of our core values is 'Play as a Team'; this means making sure everyone has an equal chance to participate and make a difference. We win by playing together. Next Insurance is an equal opportunity employer and prioritizes building a diverse and inclusive workplace. We provide equal employment opportunities to all employees and applicants of any type and do not discriminate based on race, color, religion, national origin, gender, age, sexual orientation, physical or mental disability, genetic information or characteristic, gender identity and expression, veteran status, or other non-job-related characteristics or other prohibited grounds specified in applicable federal, state, and local laws. Next's policy is to comply with all applicable laws related to nondiscrimination and equal opportunity and will not tolerate discrimination or harassment based on any of these characteristics. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training. </div>