Loss Portfolio Transfer Product Manager

Our client, recently celebrating its third year of being named a “Best Place to Work” by Business Insurance magazine, is one of the industry’s premier alternative market insurance providers that offers a broad range of risk funding products through insurance agents and brokers. The company continues to expand and adapt its product lines to better meet the needs of today’s employer. Because of their growth in the Loss Portfolio Transfer department, this financially stable carrier is adding to staff.

JOB SUMMARY:

Coordinate and execute the Company’s strategy as related to the Loss Portfolio Transfer (LPT) product offering and will report to the Vice President – Loss Portfolio Transfer.

ESSENTIAL FUNCTIONS:

Responsible for the LPT product offering and contributing to the achievement of LPT production goals through individual and joint marketing calls on brokerage community, state regulators, investment bankers, merger & acquisition, and other potential purchasers of the transfer of liabilities.

Identification of potential market sources of business for the LPT product.

Communication directly with Brokers, Third Party Administrators, and Internal Business Development staff with regards to the production of LPT business.

Travel as necessary to participate in the solicitation and educational presentations for LPT prospect opportunities either individually or in conjunction with Business Development personnel including presence at industry trade shows and associations.

Review and ensure completeness of LPT submission including application and supporting data for pricing analysis by internal actuarial staff.

Liaison with internal Legal and Compliance to coordinate structure of proposed coverage structure and transactional approval with state regulators if necessary.

Review and analyze actuarial pricing for completeness and methodology.

Conclude and recommend pricing strategy in offering terms to LPT prospect.

Facilitate issuance of preliminary and final quotes.

Liaison with Claim Department to facilitate claim audit including audit report for presentation of actuarial staff.

Determine, recommend, and present pricing analysis for approval of both preliminary and final terms and condition on LPT prospects.

Secure LPT premium and coordinate issuance of coverage vehicle structure, including reconciliation process at conclusion of transaction.

Provide LPT details and coordinate account set up with Claims and Finance Department on all concluded transactions.

ADDITIONAL RESPONSBILITIES;

Perform any ad hoc reporting and/or necessary data manipulation.

QUALIFICATIONS:

College degree with well-rounded insurance experience with a minimum of 5 years’ in primary insurance, actuarial reserving, or alternative markets with emphasis on either Claims or Underwriting disciplines.

Self-starter, with a high level of initiative, having the ability to complete projects in a timely fashion with little supervision and direction.

Communication skills, written and oral, that will work effectively with all areas and levels, internal and external audiences.

Must be detail oriented and analytical with the ability to work on multiple assignments efficiency, including the ability to prioritize.

Understanding of compliance and regulatory issues with the ability to work with various state agencies.

Familiarity with actuarial methods, processes, and application.

Understanding of compliance and regulatory issues with the ability to work with various state agencies.

Proficiency in Microsoft Office (Word, Excel, PowerPoint and Outlook).

Ability to travel.