Product Manager - Third Party Data Optimization

The Position.

Providing customers the best, fair price is core to our business model. This requires us to execute effectively across a wide range of risk management strategies including pricing, underwriting, and policy operations. Most insurance companies trudge through the process, tweaking plans at a snail’s pace. At Root, we update these strategies constantly, leveraging data science-based models and nimble technology to maximize premium growth with loss performance. Product managers in the insurance space are responsible for this important, yet difficult task. If not handled strategically, insurance risk management leads to a trade-off between growth and profit - the understanding of which requires the use of precise tools in favor of blunt instruments.

To this end, we believe in leveraging structured, rigorous thinking guided by the scientific process to create products that customers love and benefit the company’s bottom line. Although this process takes longer, long-term profitability and customer loyalty matter more to us than short term gimmicks that erode customer trust.

Data is gold for a successful insurance company. As a Product Manager supporting our third party data optimization strategy, you will partner with our Underwriting and Pricing Leadership to build creative solutions that bring in new data sources to improve our risk management strategy and optimize existing data sources to minimize customer acquisition costs.  An effective third party data strategy allows Root to grow profitably and offer our product to the widest range of customers possible.

What you'll be doing.

• Areas of Focus: Third Party Data for Use in Underwriting and Pricing, Report Cost Optimization, Insurance Product Implementation
• Work with Product Group Lead and Pricing Organization Leadership to build strategy from the ground up for your area of focus 
• Create, manage, and adapt product roadmap to meet quarterly goals/KPIs 
• Lead a team of engineers to drive the full product life cycle, spanning ideation, design, implementation, testing, and iteration
• Break down work into weekly sprints and ensure team meets execution goals
• Build out third party data analytics capabilities and perform ongoing and ad-hoc analysis to assess product performance and extract new product insights
• Collaborate with key business stakeholders in actuarial, data science, compliance, and customer conversion departments
• Enable a lean and strategic underwriting organization through the creation of effective tools and automation

What we're looking for.

• 3+ years of business experience; 2+ years of product experience; 
• Insurance domain expertise; insurance related certifications (CAS, SOA, CPCU) a plus
• Product domain expertise spanning the discovery, planning, and product development process; deep understanding of customer-centric or insurance product practices
• Bachelor’s degree in quantitative fields such as Business, Engineering, Mathematics, Actuarial, etc.
• Comfortable with ambiguity; defines effective, specific solutions from broad problem statements
• Highly analytical; excel at leveraging analytics to drive profitable product decisions
• Exemplary problem-solving skills with ability to think strategically and innovatively
• Detail oriented; ability to multitask and prioritize projects
• Roll-up-the sleeves work ethic and “do-what-it takes” attitude to efficiently execute and impact results in a fast-pace work environment
• Excellent written and verbal communication skills
• Proven ability to thrive in a results-oriented, fast-pace work environment
• Exceptional leadership and interpersonal skills; naturally collaborative, excelling at influencing without direct authority