Arch Capital
VP, Product Line Management - Workers Compensation
Arch Capital, Chicago, Illinois, United States, 60290
Overview
With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility?.
Position Summary
The Vice President, Corporate Underwriting Product Line Manager role emphasizes strategic influence and collaboration with Business Units, ensuring that Workers Compensation underwriting strategies are developed with input from BUs and aligned with corporate goals. The position supports consistency across portfolios while recognizing appropriate differences, and works closely with underwriting, product development, compliance, actuarial, claims, and risk control. It does not dictate business unit strategy or set authority levels but rather advises and supports enterprise-wide Workers Compensation initiatives. On behalf of Corporate Underwriting, and working with business unit leadership, this individual will assure that Arch has developed comprehensive underwriting strategies for the Workers Compensation business in support of business initiatives and overall profitability. Since Arch writes the same product in several business units, the Workers Compensation Product Line Manager is charged with understanding those portfolios, ensuring consistencies in the underwriting approach, providing guidance and supporting sound business solutions and coordinating training on various Workers Compensation topics. The individual will consult with product development and compliance as they develop policy language to address coverage concerns and will also work with the other functional areas (actuarial, claims, risk control, etc.) to ensure that Arch has necessary end-to-end capabilities to successfully write this line of business. Read all the information about this opportunity carefully, then use the application button below to send your CV and application. Department:
Corporate Underwriting
Reports to:
Senior Vice President, Corporate Underwriting Product Line Management
Location:
Hybrid role - based in a major metropolitan East coast or Midwest city
Responsibilities and Accountabilities 1. Line of Business Strategy & Thought Leadership Develop and implement comprehensive underwriting strategies for Workers Compensation that identify capabilities needed across the organization to deliver results aligning with Archs profitability and growth goals (Return to Work, managed care, etc.)
Lead the creation and dissemination of enterprise level underwriting guidelines (dividend plan use, concentration, etc.), principles and best practices applicable across the organization in conjunction with business units and the senior management team of the business units. Provide consultation for development of Business Unit underwriting guidelines.
Serve as the primary corporate subject matter expert for Workers Compensation, providing strategic insights on coverage nuances (e.g., monopolistic states, stop-gap coverage, jurisdictional rules) and emerging industry issues.
Represent the Workers Compensation line in internal councils and external industry forums, contributing thought leadership and market insights.
Develop and deliver training programs on Workers Compensation topics, including optional forms, coverage selections, coverage coordination (stop gap, EL, etc.) and jurisdiction-specific rules (monopolistic states, Guam, Puerto Rico, USVI, etc.).
Partner with Claims, Actuarial, Ops and IT to enhance data capture, analytics, and system capabilities that support underwriting decisions.
Partner with Risk Control to align underwriting analysis with the latest workplace hazards, risk patterns and vulnerabilities.
2. Portfolio Analysis & Market Insights Analyze portfolio performance and claim trends to understand loss drivers. Provide strategic influence rather than directive authority, sharing cross-BU learnings to enhance enterprise performance and recommend strategic adjustments to segmentation and underwriting rules (compensability, medical and indemnity trends, etc.).
Develop state-level market attractiveness report that would include commentary around loss trends, regulatory environment, bureau rate adequacy, guidance on rate filing flexibility, etc. This should be done in conjunction with input from Actuarial and Claims and would assist in driving Business Unit geographic strategies.
Coordinate with Strategic Analytics to establish portfolio management tools that can be used at the enterprise and Business Unit levels to optimize book performance.
Monitor competitor activity and market developments to inform underwriting initiatives and strategic positioning.
Prepare reports and white papers on emerging issues, litigation trends, and regulatory changes impacting Workers Compensation.
Monitor and interpret regulatory changes at state and bureau levels; assess impact on underwriting, pricing, and product development (Reform, circulars, surcharge issues, NCCI and APCIA notices).
3. Establish and monitor aggregation standards 4. Monitor loss trends including medical and indemnity trends, compensability (coordination with Claims and Actuarial) Required Skills and Abilities A senior level underwriter and leader, with 10+ years of experience in both field underwriting and Corporate/Home Office roles. This individual possesses expert-level knowledge and technical expertise in Workers' Compensation. They must be able to effectively communicate issues and concerns into concise policy documents such as white papers and guidelines, and communicate strategies, concerns, and issues to Arch Insurance senior leadership. They must have the ability to work with and influence senior executives, business unit leadership, and underwriting support units to enable a highly coordinated approach to the lines of business. Education and Experience
Knowledge of emerging issues within the Workers Compensation insurance marketplace.
Adept at building and managing teams of specialized, technical experts.
Ability to think strategically plan our future.
Demonstrated organizational agility in working across business units, as well as other service units (e.g. Operations, Product Development, Compliance, IT, Actuary).
Ability to effectively communicate at all levels across the organization.
In terms of Arch Experience Values Be the Solution and Be Passionate about the Voice of the Customer - in this case the Arch business units while balancing the need for consistency and efficiency in the organization.
Salary and Benefits: $145,700 - $202,770/year. Salary is base and incentive eligible; total compensation will consider location, scope, responsibilities, qualifications, talent availability and business needs. Arch offers comprehensive benefits including medical, dental, vision, 401k, PTO, holidays, parental leave, and other programs. The above pay range may be modified in the future. Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isnt the right fit but youre interested in working for Arch, create a job alert and join our talent community to share your preferences with Archs Talent Acquisition team. #J-18808-Ljbffr
The Vice President, Corporate Underwriting Product Line Manager role emphasizes strategic influence and collaboration with Business Units, ensuring that Workers Compensation underwriting strategies are developed with input from BUs and aligned with corporate goals. The position supports consistency across portfolios while recognizing appropriate differences, and works closely with underwriting, product development, compliance, actuarial, claims, and risk control. It does not dictate business unit strategy or set authority levels but rather advises and supports enterprise-wide Workers Compensation initiatives. On behalf of Corporate Underwriting, and working with business unit leadership, this individual will assure that Arch has developed comprehensive underwriting strategies for the Workers Compensation business in support of business initiatives and overall profitability. Since Arch writes the same product in several business units, the Workers Compensation Product Line Manager is charged with understanding those portfolios, ensuring consistencies in the underwriting approach, providing guidance and supporting sound business solutions and coordinating training on various Workers Compensation topics. The individual will consult with product development and compliance as they develop policy language to address coverage concerns and will also work with the other functional areas (actuarial, claims, risk control, etc.) to ensure that Arch has necessary end-to-end capabilities to successfully write this line of business. Read all the information about this opportunity carefully, then use the application button below to send your CV and application. Department:
Corporate Underwriting
Reports to:
Senior Vice President, Corporate Underwriting Product Line Management
Location:
Hybrid role - based in a major metropolitan East coast or Midwest city
Responsibilities and Accountabilities 1. Line of Business Strategy & Thought Leadership Develop and implement comprehensive underwriting strategies for Workers Compensation that identify capabilities needed across the organization to deliver results aligning with Archs profitability and growth goals (Return to Work, managed care, etc.)
Lead the creation and dissemination of enterprise level underwriting guidelines (dividend plan use, concentration, etc.), principles and best practices applicable across the organization in conjunction with business units and the senior management team of the business units. Provide consultation for development of Business Unit underwriting guidelines.
Serve as the primary corporate subject matter expert for Workers Compensation, providing strategic insights on coverage nuances (e.g., monopolistic states, stop-gap coverage, jurisdictional rules) and emerging industry issues.
Represent the Workers Compensation line in internal councils and external industry forums, contributing thought leadership and market insights.
Develop and deliver training programs on Workers Compensation topics, including optional forms, coverage selections, coverage coordination (stop gap, EL, etc.) and jurisdiction-specific rules (monopolistic states, Guam, Puerto Rico, USVI, etc.).
Partner with Claims, Actuarial, Ops and IT to enhance data capture, analytics, and system capabilities that support underwriting decisions.
Partner with Risk Control to align underwriting analysis with the latest workplace hazards, risk patterns and vulnerabilities.
2. Portfolio Analysis & Market Insights Analyze portfolio performance and claim trends to understand loss drivers. Provide strategic influence rather than directive authority, sharing cross-BU learnings to enhance enterprise performance and recommend strategic adjustments to segmentation and underwriting rules (compensability, medical and indemnity trends, etc.).
Develop state-level market attractiveness report that would include commentary around loss trends, regulatory environment, bureau rate adequacy, guidance on rate filing flexibility, etc. This should be done in conjunction with input from Actuarial and Claims and would assist in driving Business Unit geographic strategies.
Coordinate with Strategic Analytics to establish portfolio management tools that can be used at the enterprise and Business Unit levels to optimize book performance.
Monitor competitor activity and market developments to inform underwriting initiatives and strategic positioning.
Prepare reports and white papers on emerging issues, litigation trends, and regulatory changes impacting Workers Compensation.
Monitor and interpret regulatory changes at state and bureau levels; assess impact on underwriting, pricing, and product development (Reform, circulars, surcharge issues, NCCI and APCIA notices).
3. Establish and monitor aggregation standards 4. Monitor loss trends including medical and indemnity trends, compensability (coordination with Claims and Actuarial) Required Skills and Abilities A senior level underwriter and leader, with 10+ years of experience in both field underwriting and Corporate/Home Office roles. This individual possesses expert-level knowledge and technical expertise in Workers' Compensation. They must be able to effectively communicate issues and concerns into concise policy documents such as white papers and guidelines, and communicate strategies, concerns, and issues to Arch Insurance senior leadership. They must have the ability to work with and influence senior executives, business unit leadership, and underwriting support units to enable a highly coordinated approach to the lines of business. Education and Experience
Knowledge of emerging issues within the Workers Compensation insurance marketplace.
Adept at building and managing teams of specialized, technical experts.
Ability to think strategically plan our future.
Demonstrated organizational agility in working across business units, as well as other service units (e.g. Operations, Product Development, Compliance, IT, Actuary).
Ability to effectively communicate at all levels across the organization.
In terms of Arch Experience Values Be the Solution and Be Passionate about the Voice of the Customer - in this case the Arch business units while balancing the need for consistency and efficiency in the organization.
Salary and Benefits: $145,700 - $202,770/year. Salary is base and incentive eligible; total compensation will consider location, scope, responsibilities, qualifications, talent availability and business needs. Arch offers comprehensive benefits including medical, dental, vision, 401k, PTO, holidays, parental leave, and other programs. The above pay range may be modified in the future. Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isnt the right fit but youre interested in working for Arch, create a job alert and join our talent community to share your preferences with Archs Talent Acquisition team. #J-18808-Ljbffr