Product Development Manager
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Overview
Job Description
Position Summary
The Product Development Manager is responsible for developing and implementing the new product development strategy and prioritizing niche markets within specialty insurance. The role drives innovation, establishes KPIs, provides regular updates to senior management, engages with clients, and partners, and develops training materials on new specialty insurance products. They lead a collaborative team of product development professionals overseeing design, risk analysis, pricing, and end-to-end product management.What will your job entail?
Job Responsibilities:
- Leads and manages a team of product development professionals—including product managers, analysts, and specialists—while fostering a collaborative and innovative culture that drives the successful delivery of new insurance product initiatives.
- Partners with Project Management, Product Management, Process Engineering and IT to ensure alignment and execution of business priorities.
- Follows project management best practices across both Agile and Waterfall methodologies.
- Develops and executes the overall product development strategy, ensuring alignment with company goals, market trends, financial performance expectations, and specialty insurance growth priorities.
- Leverages underwriting and MGU operational knowledge to guide product design, ensuring alignment with the full policy lifecycle—including submission intake, quoting, binding, endorsements, cancellations, renewals, and compliance considerations.
- Collaborates with underwriting teams, actuaries, and finance partners to assess risk, set pricing strategies, evaluate profitability, and ensure products are financially viable across their lifecycle.
- Leads the development and management of AI‑driven underwriting platforms, including evaluating system outputs, optimizing underwriting rules, and partnering with technology teams to refine automation and decision-support tools.
- Oversees the end‑to‑end lifecycle of product development and enhancement projects, ensuring timelines, budgets, resource allocations, and cross-functional deliverables are met.
- Monitors and report on project performance, risks, and outcomes to executive leadership.
- Drives innovation and differentiation within specialty insurance, introducing new product features, underwriting capabilities, and technology integrations that enhance competitiveness.
- Defines KPIs and monitors product performance, leveraging data analytics, financial insights, and underwriting trends to identify opportunities for improvement and drive continuous optimization.
- Creates training materials and provides education to internal teams, agents, and customers, ensuring effective understanding of new products, underwriting workflows, and AI‑driven tools.
- Serves as a subject-matter expert on underwriting operations, offering guidance on submission workflows, routing, risk selection, documentation standards, and policy lifecycle management.
Required Experience:
Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.
How We Support Our Teammates
Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.
The target salary range for this position is $112,000.00 - $140,000.00 annually.The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.
We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at HR@Ryansg.com
The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
Automate your job search with Sonara.
Submit 10x as many applications with less effort than one manual application.