As an insurance product manager, articulating the complex balance between risk management and product development in your resume can be challenging. Our guide provides targeted strategies and examples to help you effectively showcase your expertise and achievements in this niche area, enhancing your resume's impact.
- The most straightforward and effective resume format, ensuring your insurance product manager resume stands out among numerous candidate profiles;
- The significance of the top one-third of your resume, including the header, summary or objective, and skills section, and its impact on recruiters;
- Frameworks and structures used by real insurance product manager professionals, offering insights on how to enhance your resume with industry-specific expertise;
- A variety of insurance product manager resume sections that bolster your profile, showcasing your comprehensive capabilities and distinctiveness.
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How to style your insurance product manager resume: layout and format
When creating your insurance product manager resume, have you ever wondered how long it should be? Experts point out that it should be between one and two pages. Choose the longer format, if you happen to have over a decade of relevant experience. What is more, resume formats play a crucial role in presenting your experience. Use the:- Reverse-chronological resume format to highlight your experience;
- Functional skill-based resume format if you have less experience and want to focus on skills;
- Hybrid resume format to guide recruiters through both your experience and skills.
- Make sure your headline is simple and includes the job you're applying for or your current role, an abbreviation of a certificate you have, or even your professional area of interest;
- Always tailor your insurance product manager resume to the role you're applying for by matching job requirements to your experience via different resume sections;
- Once you've created your resume, download it in PDF (unless otherwise specified). This is to ensure readability and that the layout remains fixed.
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Recruiters' preferred insurance product manager resume sections:
- A header with relevant contact information and headline, listing your current job title
- A resume summary or objective pinpointing what is most impressive about your expertise (that aligns with the role)
- An experience section highlighting the specifics of your responsibilities and achievements
- A skills sidebar to intertwine job advert keywords with your unique talents
- An education and certifications sections to serve as further accreditation to your professional experience
What recruiters want to see on your resume:
- Proven experience in insurance product development and lifecycle management.
- Strong analytical skills with the ability to use data and metrics to back up assumptions, make decisions, and drive actions.
- Demonstrated ability to identify market needs and translate them into successful insurance product features or enhancements.
- Expertise in regulatory and compliance matters specific to the insurance industry, along with risk management skills.
- Track record of collaborating with cross-functional teams, including actuarial, underwriting, marketing, and sales to achieve product objectives.
Experts' advice on writing your insurance product manager resume experience
While the excitement and motivation for writing your insurance product manager resume was present in the first hour (or so), you now find yourself staring at the blank page.
The resume experience section is the one that allows you to make a memorable impression by matching job requirement with your past jobs and accomplishments.
To help you write this resume section, here are four mistakes you need to avoid:
- Listing every job you have had so far, including the irrelevant ones. Before that, consider each of your past roles based on relevancy to the role. It may be the case that the job you had 15 years ago may have taught you invaluable skills that are appropriate for the role;
- Including irrelevant work experience items. Those are past jobs that aren't linked with the role you're applying for (or so they seem). Consider how your past jobs will serve your professional presentation: will they be filling in a gap in your work history, or just taking up space?
- Focusing on responsibilities instead of accomplishments. Your insurance product manager resume shouldn't just be telling recruiters what you did in the past - as it's most often the case that candidates have had similar responsibilities. But, rather, the experience section should showcase the success you've attained in each past role, thanks to your unique skill set;
- Consider listing just your professional experience. Any role you've had in the past - e.g. volunteering, internships, etc. - can make it into your insurance product manager resume experience section. Make sure to include it alongside numbers and results.
Two more things you need to remember about your resume experience section.
The first are keywords. Or those specific job requirements that are crucial for the role . Ensure you've integrated them across your experience section to get sorted closer to the ideal candidate profile by the Applicant Tracker System (ATS).
The second are action verbs. Each of your experience bullets should start with a strong action verb, followed by your specific skill and your on the job achievements. Follow this formula to hint to recruiters what your unique value as a professional is.
Still with us? In the next section, we will show you how industry-leading professionals have avoided the four most common mistakes, while integrating keywords and action verbs in their experience section.
- Developed and implemented comprehensive product strategies for life insurance products, increasing market penetration by 25% within the first two years.
- Led a cross-functional team to design and launch an innovative health insurance product suite, which garnered two industry awards for 'Best New Insurance Product' in 2020.
- Conducted extensive market research to identify potential areas for product expansion, resulting in three new tailored insurance offerings that boosted revenue by 18%.
- Orchestrated the rebranding and positioning of auto insurance products, which led to a 40% increase in customer retention rate over four years.
- Spearheaded the adoption of advanced analytics to inform product pricing decisions, leading to a reduction in claims cost by 15% while maintaining competitive pricing.
- Managed vendor relationships to integrate new technology into product offerings, enhancing customer experience and reducing claim processing times by 30%.
- Launched a new property insurance line, drafting and negotiating terms with underwriters and achieving a 20% conversion rate from existing customers within the first year.
- Collaborated with legal and compliance teams to ensure all product offerings were in full compliance with regulatory standards, achieving 100% audit pass rate.
- Oversaw market analysis and segmentation for targeted marketing campaigns, which contributed to a 30% increase in new customer acquisitions.
- Implemented an agile product development framework that accelerated the launch of new insurance products by 50%, significantly beating the industry average time to market.
- Managed a portfolio of travel insurance products, overseeing a team of 15 to align product enhancements with customer feedback, increasing customer satisfaction scores by 12 points.
- Drove strategic partnerships with airlines and travel agencies to promote travel insurance, resulting in a 35% uptick in policy sales year-over-year.
- Revitalized a stagnant pet insurance product line, introducing coverage enhancements that led to a doubling in sales volume within two years.
- Led stakeholder meetings to translate business needs into functional product features, enhancing the user experience and increasing digital adoption by 40%.
- Negotiated with technology suppliers to integrate AI-based claims processing, achieving a 25% decrease in operating costs for the product line.
- Coordinated with actuaries to recalibrate risk models for auto insurance products, resulting in a 22% decrease in loss ratios over 12 months while retaining competitive premiums.
- Launched a customer feedback loop for policyholders to report on claim experiences, driving product enhancements that increased Net Promoter Score (NPS) by 15%.
- Leveraged data-driven insights to optimize product portfolio performance, phasing out underperforming products and reallocating resources to high-potential areas.
- Initiated and managed a strategic partnership program with car manufacturers, integrating auto insurance with new vehicle purchases and boosting annual sales revenue by 20%.
- Developed a multi-channel distribution strategy for life insurance products, broadening market reach and contributing to a quarterly sales increase of 30%.
- Implemented predictive analytics tools for risk assessment, reducing claim incidence by enhancing risk detection and preventative measures.
- Designed an award-winning app for on-demand insurance product offerings, capturing a new tech-savvy market segment and driving a 250% increase in policies sold via the app.
- Pioneered an environmentally focused insurance product consolidating csr into core business, attracting eco-conscious consumers and leading to a feature in Industry Today.
- Executed a successful pricing strategy overhaul for senior market insurance products, balancing customer affordability with profitability and leading to a 15% improvement in market share.
Quantifying impact on your resume
- Highlight the percentage increase in customer retention through improved policy features you initiated.
- Detail the dollar amount of claims processed annually to demonstrate your experience with large scale operations.
- Specify the number of new insurance products developed and launched to showcase innovation and product expansion.
- Mention the growth in market share achieved due to your successful product marketing strategies.
- Quantify the efficiency improvements in underwriting processes that led to cost reduction.
- Include the percentage reduction in litigation cases due to enhanced compliance measures you implemented.
- Illustrate the number of cross-functional teams you led for product development, indicating leadership and collaboration expertise.
- Report the cut down in product development cycle time under your management, highlighting your efficiency and time management skills.
Action verbs for your insurance product manager resume
Insurance product manager resume without experience: a walk-through guide
If you don't happen to have any relevant experience yet, you can substitute this with:
- Short-term gigs and stunts - like month-long internships, that you have done during your university days
- Contract work - be specific about the relevance and outcomes of each role you include
- Resume format that prioritizes your skills - the functional-skill-based format or hybrid format could work
- Research roles - feature those especially prominently if you've participated in a noteworthy project or your role was of utmost importance to the project's success.
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PRO TIP
List all your relevant higher education degrees within your resume in reverse chronological order (starting with the latest). There are cases when your PhD in a particular field could help you stand apart from other candidates.
Bringing your insurance product manager hard skills and soft skills to the forefront of recruiters' attention
Hard skills are used to define the technological (and software) capacities you have in the industry. Technical skills are easily defined via your certification and expertise.
Soft skills have more to do with your at-work personality and how you prosper within new environments. People skills can be obtained thanks to your whole life experience and are thus a bit more difficult to define.
Why do recruiters care about both types of skills?
Hard skills have more to do with job alignment and the time your new potential employers would have to invest in training you.
Soft skills hint at how well you'd adapt to your new environment, company culture, and task organization.
Fine-tune your resume to reflect on your skills capacities and talents:
- Avoid listing basic requirements (e.g. "Excel"), instead substitute with the specifics of the technology (e.g. "Excel Macros").
- Feature your workplace values and ethics as soft skills to hint at what matters most to you in a new environment.
- Build a separate skills section for your language capabilities, only if it makes sense to the role you're applying for.
- The best way to balance insurance product manager hard and soft skills is by building a strengths or achievements section, where you define your outcomes via both types of skills.
There are plenty of skills that could make the cut on your resume.
That's why we've compiled for you some of the most wanted skills by recruiters, so make sure to include the technologies and soft skills that make the most sense to you (and the company you're applying for):
Top skills for your insurance product manager resume:
Product Development
Market Research
Data Analysis
Project Management Tools (e.g., JIRA, Trello)
Underwriting Software
Claims Management Systems
Pricing Models
Regulatory Compliance Knowledge
Financial Modeling
Customer Relationship Management (CRM) Software
Communication
Leadership
Problem-Solving
Analytical Thinking
Negotiation
Team Collaboration
Adaptability
Time Management
Attention to Detail
Strategic Thinking
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Bold the names of educational institutions and certifying bodies for emphasis.
Maximizing your insurance product manager resume: education and certification sections
To effectively showcase your industry knowledge in your insurance product manager resume, it's important to properly list your education and certifications.
For the education section, ensure you include:
- Higher education degrees pertinent to the industry or those at a postgraduate level;
- The start and end dates of your education, along with the name of the institution you graduated from;
- Your GPA and relevant coursework, but only if they are impressive and applicable to the role.
Additionally, create a separate certifications section to spotlight your most notable recognitions. Another excellent place to feature a leading industry certificate is in your resume header, right after your name.
Below is a list of key industry certifications that are often sought after by recruiters
The top 5 certifications for your insurance product manager resume:
- Chartered Property Casualty Underwriter (CPCU) - The Institutes.
- Associate in Risk Management (ARM) - The Institutes.
- Associate in Insurance Services (AIS) - The Institutes.
- Associate of the Society of Actuaries (ASA) - Society of Actuaries.
- Chartered Life Underwriter (CLU) - The American College of Financial Services.
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Showcase any ongoing or recent educational efforts to stay updated in your field.
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Deciding between a resume summary or objective for your insurance product manager role
Understanding the distinction between a resume summary and an objective is crucial for your insurance product manager resume.
A resume summary, typically three to five sentences long, offers a concise overview of your career. This is the place to showcase your most pertinent experience, key accomplishments, and skills. It's particularly well-suited for those with professional experience relevant to the job requirements.
In contrast, a resume objective focuses on how you can add value to potential employers. It addresses why they should hire you and outlines your career expectations and learning goals. Therefore, it's ideal for candidates with less experience.
In the following section of our guide, explore how resume summaries and objectives differ through some exemplary industry-specific examples.
Resume summaries for a insurance product manager job
- With over a decade of experience in insurance product management, Jane has delivered sustainable growth for ABC Insurers by leading the launch of a game-changing health insurance product line. Her strong analytics, market insight, and leadership in cross-functional teams have been pivotal in meeting consumer needs effectively.
- Coming from a healthcare management background, John successfully transitioned into insurance product management, applying 8 years experience to design customer-centric life insurance packages. Leveraging a robust understanding of health industry dynamics, John has innovated product solutions that improved customer satisfaction by 30% at HealthFirst Insurers.
- Mary, with her 15 years in financial services management and a recent specialization in data analytics, expertly shifted focus to insurance product management. At Global Finance Group, she utilized her acumen to develop insurance products that increased policyholder retention by 25% through personalized risk assessment features.
- Michael, with his rich expertise of over 18 years in risk management, crafted a significant career pivot into insurance product management, bringing with him a unique perspective that revitalized SecureLife's risk assessment process, enhancing product appeal and profitability in the highly competitive insurance market.
- Eager to apply a passion for technology and problem-solving, this recent graduate aims to leverage a comprehensive understanding of software development and data science to contribute to the innovative creation and enhancement of insurance products, with a focus on optimizing user experience and value delivered to policyholders.
- Anticipating a dynamic entry into insurance product management, this MBA candidate is poised to integrate proven strategic planning and market analysis skills from a consulting background to drive the development of insurance solutions that align with consumer needs and technological advancements.
Extra insurance product manager resume sections and elements
Creating a winning insurance product manager resume isn't about following a rigid formula. The key is to tailor it to the job requirements while maintaining your unique personality.
Consider including these additional resume sections to enhance your profile:
- Awards - Highlight industry-specific awards as well as any personal accolades to demonstrate recognition of your expertise and achievements;
- Hobbies and interests - Share your interests outside of work. This can provide insights into your personality and indicate whether you'd be a good cultural fit for the organization;
- Projects - Detail significant projects you've been involved in, focusing on your contributions and the outcomes;
- Publications - If you've authored or co-authored academic papers or other publications, include them to establish your credibility and in-depth knowledge of the field.
These sections can give a more comprehensive view of your capabilities and character, complementing the standard resume content.
Key takeaways
- Ensure your insurance product manager resume uses a simple, easy-to-read format that reflects upon your experience and aligns with the role;
- Be specific within the top one-third of your resume (header and summary or objective) to pinpoint what makes you the ideal candidate for the insurance product manager role;
- Curate information that is tailored to the job by detailing skills, achievements, and actual outcomes of your efforts;
- List your certifications and technical capabilities to demonstrate your aptitude with specific software and technologies;
- The sections you decide on including on your insurance product manager should pinpoint your professional expertise and personality.
