Director Product Development
Company Details
Vela Insurance ServicesVela Insurance Services provides specialized Excess and Surplus Lines Casualty and Professional Liability insurance solutions in the following market segments: Construction, Specialty Casualty, & Professional Liability. We offer national service and local knowledge to our exclusive wholesale broker network and the businesses they serve.
The Company is an equal employment opportunity employer.
Responsibilities
The Product Development Director supports the VP of Underwriting in leading the development, enhancement, and governance of Vela’s products. This role manages the product portfolio, oversees form and endorsement development, and ensures product alignment with underwriting strategy and market needs while partnering closely with Segment Leaders and underwriting teams.
• Manage the product library and ensure accuracy, consistency, and accessibility for underwriting teams.• Support the VP of Underwriting in evaluating new product ideas and enhancements based on market trends, underwriting needs, and strategic priorities.• Maintain product documentation, usage guidelines, and version control.• Develop and maintain underwriting guidelines, appetite statements, and product usage standards.• Provide product expertise to Segment Leaders and underwriters, including training and communication on product changes.• Assist in implementing best practices for product governance, documentation, and lifecycle management.• Monitor emerging underwriting issues, legal developments, and market trends relevant to Vela’s product portfolio.• Ensure product compliance with regulatory requirements in partnership with Finance and Operations.• Recommend product adjustments or new offerings based on competitive intelligence and market shifts.• Work with the VP of Underwriting to analyze underwriting performance, product profitability, and portfolio trends.• Identify areas for improvement and recommend changes to enhance underwriting results and product effectiveness.• Support the development of reporting, dashboards, and feedback loops to track product performance.• Provide guidance and mentorship to product development staff or underwriting contributors involved in product work.• Foster strong working relationships with underwriting teams to ensure product clarity, adoption, and alignment with business goals.• Support internal communication of product updates, changes, and strategic initiatives.• Other duties as assigned.• Regular and predictable attendance.
Qualifications
Competencies:
• Strong knowledge of insurance products, coverage design, and underwriting principles.• Ability to analyze underwriting results and identify product improvement opportunities.• Strong written and verbal communication skills with high attention to detail.• Ability to work independently, manage multiple priorities, and drive projects to completion.• Proficiency in Word, Excel, and PowerPoint.
Qualifications:
• Minimum 8–12 years of commercial insurance experience, preferably within E&S.• Experience drafting forms, endorsements, underwriting guidelines and rates.
Education Requirement
• Four (4) year college degree, or commensurate experience and training.• JD a plus.• CPCU, AIM, CRIS, ASLI and other professional designations preferred.
