Head of Small Business Product

Head Of Small Business Product

At Westfield Small Business, we are committed to leading innovation and excellence in the small business insurance sector. Our goal is to empower independent agents with a broad risk appetite and automated solutions to enable efficient growth and uncover new opportunities. By prioritizing superior customer service and disciplined underwriting, we ensure consistent and stable financial outcomes, making us a reliable partner in our customers' success. We utilize advanced technology and data analytics to streamline our processes and deliver exceptional value to our clients. Join us and be part of a team that is revolutionizing the small business insurance industry through strategic agency partnerships, innovative capabilities, and cutting-edge automation.

The Head of Small Business Product is responsible for leading the insurance portfolio, shaping and executing product strategy, and overseeing product implementation and performance. This role also drives market research and collaborates closely with cross-functional teams to ensure alignment and impact across the business. Working closely with senior executives, the Head of Small Business Product Management makes strategic decisions and leads the product management lifecycle. The role ensures alignment with the Small Business segment's strategy, defines risk appetite and product strategies, ensures customer-centric product offerings, and enables profitable growth. The role leverages market intelligence, customer insights, and data-driven insights for product performance evaluation. The role executes in alignment with the governance required to ensure decision-making across actuarial, product management, product development, sales, and underwriting is well integrated and maintains a sense of independence wherever necessary. This role will lead the line of business and state product teams in managing the job responsibilities below.

Financial Performance and Portfolio Management : Accountable for product performance, including renewal retention, new business growth, and loss ratios, to ensure profitability and sustainability. Collaborate with underwriting and actuarial teams to assess and execute initiatives related to product mix, rate adequacy, rate management, and market opportunities. Utilize data-driven insights to refine product offerings, improve risk selection, and maximize long-term profitability. Establish clear performance metrics for the product portfolio, tracking growth, retention, and profitability to ensure strategic alignment and market competitiveness. Works with the Finance function to set standards and execute an efficient and accurate business planning process.

Product Strategy : Provide strategic leadership in defining and managing the Small Business product portfolio, ensuring alignment with market demands, organizational goals, and customer needs. Identify opportunities for growth in profitable segments, assess emerging risks, and address unique exposures, ensuring the portfolio aligns with the company's overall goals for financial performance and market competitiveness. Balance product design with pricing strategies and underwriting guidelines to deliver solutions that align with the company's risk appetite and financial goals.

Product Roadmap Management : Develop and implement a product roadmap for Small Business, prioritizing innovation, competitiveness, and profitable growth. This role will drive innovation in the product design of policy features, pricing structures, coverage options, and writing company utilization, leveraging agent and customer feedback, market insights, and data analytics. Lead the end-to-end development of new insurance products and the enhancement of existing offerings, focusing on customer value, agent usability, and operational efficiency. Oversee the continuous improvement of pricing models to adapt to market dynamics. Collaborate with