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Product Development Specialist in Whitehouse, NJ at Chubb Group of Insurance Companies

Date Posted: 6/23/2018

Job Snapshot

Job Description

Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally. 


The North America Office of General Counsel (“OGC”) Product Development Specialist position resides in OGC’s Policy Language Center of Excellence (“CoE”) and is responsible for working with the commercial underwriting units and other service areas on policy language development. Policy language development includes new contracts, endorsements and manuscripts. Additional responsibilities include training; policy language analysis, comparison and review; and coverage consultation. Collaboration and working in a team environment with underwriters, claims, underwriting support services, actuarial, and other constituencies are essential.


Major Functional Responsibilities:


A. Development of contract and form language that accurately reflects the underwriting strategies, loss issues and state mandates.

B. Review ISO, competitors and industry materials and their impact on Chubb products.

C. Consult and provide interpretation on language development and analysis.

D. Ensure consistency of language by line of business throughout commercial products

E. Assist in preparation of all required supporting product documentation; comparisons, explanatory memorandums, annotated contracts, disclosures etc.

F. Provide input for marketing materials and contract training

G. Provide manuscript policy language to support account specific transactions.

H. Assist in responding to regulatory criticisms and mandates.

I. I. Maintain forms and product templates for mandated language to be used globally

J. Captures each form's unique business intent for field users and related contract applicability information.


Knowledge and Skills:


Candidates for this position must have at least 7-10 years of property & casualty insurance contract development or underwriting experience. Additionally, experience in Insurance Services Office industry standard contracts and endorsements is desirable. The candidate should have superior writing and language comprehension skills; strong analytical acumen and an advanced understanding of commercial underwriting and property & casualty insurance industry theories and practices. Candidates must demonstrate a high proficiency in time management, leadership, influence, and project management skills.


Candidates must have a proven track record of results achievement, customer development, collaboration, teamwork, problem solving, and marketing/negotiation skills. Candidates must have strong interpersonal and communication skills and the ability to effectively interact with a broad spectrum of consistencies. 


Education:

Bachelor’s degree required.

CPCU or similar designation desirable.


Chubb offers a competitive compensation package and comprehensive benefits package including life, health and dental, vision, a generous retirement savings plan, disability coverage, stock purchase plan, flexible spending accounts, tuition reimbursement, and business casual dress. At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religion, age, sex, sexual orientation, transgender, national origin, disability, genetic information, veteran or marital status, or any other characteristic protected by law.