Product Development Director

Position: Product Development Director

Company: A leading specialist in commercial insurance, serving clients within the Lloyd's and company markets.

Function / Area: Legal
Reports to: VP, General Counsel
Location: London/Hybrid

Salary: IRO £120,000 - £150,000

Position Summary:

• This role offers a unique chance to lead and innovate within the product development sphere in the commercial insurance sector.
• The Product Development Director will be responsible for overseeing all aspects of product management across multiple geographies and languages, ensuring compliance and operational efficiency.

• Collaborate with senior management to deliver efficient and effective service to both internal and external customers.
• Develop and implement strategic goals for product development, enhancing the function as a market-leading resource.
• Liaise with global offices to direct product development strategy.
• Oversee the creation and approval of standard and non-standard policy documents, ensuring they meet compliance and operational standards.
• Manage a team of Product Development Advisers, guiding them to achieve organisational objectives.
• Ensure all legal and regulatory requirements are met, implementing appropriate compliance measures.
• Collaborate with the legal team to monitor coverage litigation and update policy documents accordingly.

• Over 10 years of practical experience in an insurance company, broker, or law firm specialising in insurance, with a focus on policy wordings.
• Exceptional collaboration skills, with the ability to work effectively with Underwriting, Claims, and international teams.
• Strong project management abilities, capable of handling multiple tasks and delivering results with minimal supervision.
• Analytical prowess, able to identify and assess issues within a commercial framework swiftly.
• Extensive knowledge of the insurance business, including product development, underwriting, claims, legal, and regulatory aspects.
• Proficient in resolving short-term problems while supporting long-term objectives.
• Excellent interpersonal skills to interact with various business areas and external contacts.
• Strong organisational skills and solid computer proficiency, particularly in Microsoft Office Suite and Adobe.
• Expertise in policy drafting across all lines, with experience in creating and drafting insurance products from scratch.