Position: Product Development Director

Company: A leading specialist in commercial insurance, serving clients within the Lloyd's and company markets

Function / Area: Legal
Reports to: VP, General Counsel
Location: London/Hybrid

Salary: IRO £120,000 - £150,000

Position Summary:
* This role offers a unique chance to lead and innovate within the product development sphere in the commercial insurance sector.
* The Product Development Director will be responsible for overseeing all aspects of product management across multiple geographies and languages, ensuring compliance and operational efficiency.

Key Responsibilities:
* Collaborate with senior management to deliver efficient and effective service to both internal and external customers.
* Develop and implement strategic goals for product development, enhancing the function as a market-leading resource.
* Liaise with global offices to direct product development strategy.
* Oversee the creation and approval of standard and non-standard policy documents, ensuring they meet compliance and operational standards.
* Manage a team of Product Development Advisers, guiding them to achieve organisational objectives.
* Ensure all legal and regulatory requirements are met, implementing appropriate compliance measures.
* Collaborate with the legal team to monitor coverage litigation and update policy documents accordingly.

Skills, Knowledge & Experience:
* Over 10 years of practical experience in an insurance company, broker, or law firm specialising in insurance, with a focus on policy wordings.
* Exceptional collaboration skills, with the ability to work effectively with Underwriting, Claims, and international teams.
* Strong project management abilities, capable of handling multiple tasks and delivering results with minimal supervision.
* Analytical prowess, able to identify and assess issues within a commercial framework swiftly.
* Extensive knowledge of the insurance business, including product development, underwriting, claims, legal, and regulatory aspects.
* Proficient in resolving short-term problems while supporting long-term objectives.
* Excellent interpersonal skills to interact with various business areas and external contacts.
* Strong organisational skills and solid computer proficiency, particularly in Microsoft Office Suite and Adobe.
* Expertise in policy drafting across all lines, with experience in creating and drafting insurance products from scratch.