Job Details
Qualifications
- Analysis skills
- Bachelor's degree
- Communication skills
- Information security
- Negotiation
- Product management
Job Description
Pay Philosophy
The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.
Description
About Liberty Mutual:
In business since 1912, and headquartered in Boston, today we are the fifth largest global property and casualty insurer based on 2022 gross written premium. We also rank 86 on the Fortune 100 list of largest corporations in the U.S. based on 2022 revenue. As of December 31, 2022, we had $50.0 billion in annual consolidated revenue.
We employ over 50,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, commercial property, and cyber insurance.
About Liberty Mutual Cyber:
After writing our first cyber insurance policy in 2009, Liberty Mutual has grown into an industry leader—now insuring policyholders of all sizes, industries, and geographies all around the world. With primary and excess capabilities, blended and stand-alone coverage structures, a Lloyd’s operation, direct and assumed reinsurance, pre-loss and post-loss advisory and mitigation services, and leading claim and incident response capabilities—few other insurers can offer comparable depth and breadth of cyber expertise and capabilities. Our goal is to deliver that expertise and those capabilities to our policyholders, enabling the businesses we insure to fully leverage cyber, technology, and data strategies as they embrace today and confidently pursue tomorrow.
Job Summary:
The Cyber Product Manager reports to the Cyber Global Product Leader and is responsible for primary and excess cyber product development, product maintenance, underwriting guidelines and controls, data collection, pricing and profitability—all at a global level. Primary responsibilities are focused on direct cyber standalone business in North America, with secondary responsibilities including the support of Cyber Global Product Leader on centralizing and globalizing aforementioned topics, as well as non affirmative (“silent”) and affirmative cyber risk within general lines, where cyber exposure must be managed. The individual will engage with brokers and clients to ensure the products are suitable and explore areas of cyber product innovation. The role will drive Cyber product development, innovation, and continuous improvement of Cyber across Global Risk Solutions (GRS). The role will require the development of relationships across dependent functional areas to ensure Cyber products are fit for purpose and drive efforts to ensure products remain competitive in the global market. The Cyber Product Manager will be able to develop and deliver appropriate training for employees, brokers, clients, and other stakeholders related to Cyber as a product and as a peril—and may include periodic market thought leadership in the form of whitepaper authorship, media engagement, participation on panels, etc.
Key Purpose of the Role:
To deploy GRS Office of Underwriting product management best practices into the North American market for cyber insurance.
To ensure GRS communicates its strategy, approach and controls in regard to cyber underwriting effectively and that GRS’s institutional knowledge is stored, maintained, updated, communicated, and operationalized effectively throughout all of Liberty Mutual’s GRS business units.
To provide knowledge support to Liberty Mutual Reinsurance (Assumed reinsurance) and U.S. Retail Markets (Personal lines and Small business insurance) as appropriate.
Key Responsibilities:
Drafting and managing the suite of cyber products and policy forms deployed by Liberty Mutual, ensuring that they strike an appropriate balance of providing competitive and marketable breadth of coverage scope, flexibility, and structure—while also containing prudent terms, conditions, and exclusions that support the profit and loss objectives of the business.
best practice appetite guidance, detailed underwriting navigation around the highest exposure classes of business including cyber treatment strategies, pricing best practice and tiering strategies.
Driving knowledge sharing for relevant global and regional trends and information on evolving nature of risk, performance results, claim trends, etc. that will then be used to inform local underwriting strategy decisions.
Investigates new cyber products, in alignment with internal stakeholder, client and broker needs.
Collaborate with actuarial, claims and UW Heads of Cyber to ensure that our product and wordings are fit for purpose and properly priced.
Works closely with GRS Cyber Advisory Services and Risk to validate UW assumptions in various RDSs.
Representing Liberty’s cyber practice at industry conferences, with large agent/brokers, with key clients, including C-level buyers and stakeholders, and potentially in the media.
Triaging emerging events as facts become available, in coordination with colleagues in GRS Office of Underwriting and Global Cyber practice teams.
Develops formal guidelines and standards in support of the Cyber Global Product Leader to build a common approach for Cyber underwriting and risk services across the globe.
Qualifications
At least 10+ years Underwriting experience – preferably with at least 5+ in Cyber/Tech
Experience in technical training for cyber underwriting
Experience in creating and implementing underwriting control suites.
Cyber product expertise and underwriting experience, working knowledge of the cyber insurance marketplace overall, including relevant products, competitors, distributors, resources, vendors, etc.
General knowledge of the information security landscape from a managerial level, including the history and evolution of technological risks and regulations, the threat actor ecosystem, common categories of cyber defense tools and strategies, and common cyber incident response tools and strategies, including leading providers of such products and services.
Demonstrated relationship building ability. Ability to form effective and trusting relationships with superiors, peers, and direct reports, studying, and meeting the needs of key stakeholders.
Strong analytical and problem-solving skills.
Ability to manage and prioritize multiple initiatives to deadlines.
Strong research and drafting capabilities
Technical wordings knowledge
Strong communication, negotiation and presentation skills. Ability to effectively interact with all levels of internal and external business partners and foster a culture of effective working relationships
Ability to work independently to meet team goals, and to work as a member of a high performing team
The ability to embrace and drive change initiatives with a strong background in delivering business change success is beneficial but not essential
Knowledge, skills, and other capabilities normally acquired through a bachelor`s degree
About Us
**This position may have in-office requirements depending on candidate location.**
At Liberty Mutual, our purpose is to help people embrace today and confidently pursue
tomorrow. That’s why we provide an environment focused on openness, inclusion, trust
and respect. Here, you’ll discover our expansive range of roles, and a workplace where
we aim to help turn your passion into a rewarding profession. We value your hard work,
integrity and commitment to make things better, and we put people first by offering you
benefits that support your life and well-being. To learn more, please visit
https://www.libertymutualgroup.com/about-lm/careers/benefits
Liberty Mutual has proudly been recognized as a “Great Place to Work” by Great Place
to Work® US for the past several years. We were also selected as one of the “100 Best
Places to Work in IT” on IDG’s Insider Pro and Computerworld’s 2020 list.
We have been named by Forbes as one of America’s Best Employers for Women and
one of America’s Best Employers for New Graduates—as well as one of America’s Best
Employers for Diversity. To learn more about our commitment to diversity and inclusion
please visit: https://jobs.libertymutualgroup.com/diversity-inclusion
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on
the basis of race, color, national origin, sex, sexual orientation, gender identity, religion,
age, disability, veteran’s status, pregnancy