Resp & Qualifications
This position is responsible for understanding and recommending market segment and product line opportunities for CareFirst BCBS by designing and then launching innovative and diverse new products and creating enhancements to the existing product portfolio. Additionally, this position is responsible for ensuring that segment enrollment goals are achieved and that products are marketable to meet customer needs. Once a new product or enhanced product is conceptualized, this position, working with the Product Director; SVP Marketing; CEO; Administrative Service Units (ASU)); Actuarial; Contracting and Compliance; Legal and multiple corporate stakeholders, is personally responsible for bringing the product to market. This includes obtaining intercompany approval for new product; competitive price generation, promotional campaign development; distribution strategy development; and sales and operational training.
1. Establish product and market segment direction working closely with internal and external sources to define, position, and launch products into various targeted segments.
- Lead and manage the Medicare Advantage Bid for all products, as well as completes all product management activities.
- Develop and support all company and regulatory documents related to Individual and Group Medicare Advantage.
- Provide quality assurance of Individual and Group Medicare Advantage products
- Investigate and responds to all ad hoc issues and benefit questions on a day-to-day basis for Medicare Advantage products in market.
- Conduct competitor, market, and trend analysis to generate innovative product design solutions to share with cross-functional stakeholders.
- Assists and leads ad hoc projects and analysis to support the data-driven strategic outlook of Government products.
- Analyze, evaluate, quantify, and determine future marketplace opportunities to create product and segment strategies balancing customer needs, financial requirements, and corporate strategic goals.
- Maintain market focus by utilizing primary and secondary marketing research and by engaging feedback from accounts and brokers.
- Work with Senior Management including the CEO and marketing team to develop product and/or segment strategies and to define and prioritize product/segment improvements.
- Determine strategic fit of product portfolio and develop strategies to target high growth and profitable customer segments.
- Identify and resolve cross-organizational or cross-jurisdictional issues/concerns as it relates to specific products and/or segments.
- Serve as product/segment “champion” and spokesperson to ensure that potential internal investors at all levels of the organization are attracted to and fully informed of the products’ and segments’ marketability, profitability, and fit within the changing marketplace.
- Produce and present high-level strategic documents to the CEO and other executive members of the CareFirst organization to obtain feedback and approval for future initiatives.
2. Understand market, segment, governmental and competitor trends in order to develop products to meet market needs.
- Gain a detailed knowledge of CareFirst’s competitive position including pricing relativity, product line depth & distribution channel effectiveness.
- Engage in comprehensive product lifecycle management for all products including streamlining the product portfolio and exiting products, as necessary.
- Monitor profitability, enrollment, customer satisfaction, in order to recommend new products and product enhancements.
- Ensure that all promotional mediums and sales collateral reflects the positioning of the product lines or markets supported.
- Develop monthly updates and present comprehensive closing documents bi-annually to Marketing; ASUs and other departments as needed to enlighten CareFirst organization on product/segment performance and to summarize key findings and trends.
3. Facilitate and lead multidisciplinary product development or product implementation teams including underwriting, sales, contracting and compliance, IT, etc.
- Serve as point person and consensus builder for marketing, product, and strategic issues.
- Ensure that other departments throughout the company complete their respective tasks in order to make certain that the product development and implementation is successful.
- Lead multidisciplinary teams and support ASU’s to develop and publish annual product/segment plan.
- Provide direction and expertise to accounts and business areas with timely and effective market planning.
- Elevate issues as necessary to keep projects on task and within budget.
4. Assist sales team to attain annual sales and revenue forecasts by providing direct assistance in product design, customization, tracking and general sales support.
- Work with sales to gain field input on segment initiatives, to develop/evolve sales & service strategy and deliver appropriate sales training and communications.
- Orchestrate any necessary product management input into RFP responses.
- Single point of contact for troubleshooting and ongoing product support.
- Requires an undergraduate degree in related field. A graduate degree in marketing or business, and proficiency with qualitative and quantitative analysis of health industry products strongly preferred.
- 3 to 5 years of progressively responsible work experience in a Product Management related field.
- Also, should have completed or pursue leadership-oriented training.
- Must have highly developed analytical skills and must be able to effectively communicate complex marketing and business-related issues to a diverse audience (both written and orally). Must be able to build productive relationships, be effective in individual and group meetings, be skilled in conflict resolution negotiations, and be able to lead and work effectively on cross-functional teams. Must be aggressive in desire to produce innovative alternatives and be willing to defend suggestions in varied circumstances. Must be proficient in Word, Excel, and Powerpoint.
Equal Employment Opportunity
CareFirst BlueCross BlueShield is an Equal Opportunity (EEO) employer. It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.
Hire Range Disclaimer
Actual salary will be based on relevant job experience and work history.
Where To Apply
Please visit our website to apply: www.carefirst.com/careers
Please apply before: 3.13.21
Federal Disc/Physical Demand
Note: The incumbent is required to immediately disclose any debarment, exclusion, or other event that makes him/her ineligible to perform work directly or indirectly on Federal health care programs.
The associate is primarily seated while performing the duties of the position. Occasional walking or standing is required. The hands are regularly used to write, type, key and handle or feel small controls and objects. The associate must frequently talk and hear. Weights up to 25 pounds are occasionally lifted.
Sponsorship in US
Must be eligible to work in the U.S. without Sponsorship