Tim Vermeulen
Greater Los Angeles
Summary
Progressive-minded insurance professional with exceptional subject matter expertise and business acumen. Utilizes innovative techniques to position insurance products for financial success while implementing technology solutions to make them easy to use.
Accomplishments include: Spearheading launch of over 100 complex projects, including new and redesigned programs and technology enhancements. Maintaining outstanding results throughout a decade of product ownership, achieving maximum profit and growth targets six of past 10 years. Developing comprehensive and well-rounded product management skills ranging from policy forms creation to actuarial indication analysis. Results-driven marketing leader born to build strategic, successful campaigns to drive profits, increase market share and cement industry dominance for demanding customers. Focused, performance-minded manager with proven skills in project management, team building, stakeholder relations and campaign optimization. Ready to offer several years of experience to new role dedicated to achieving exceptional results on tight timetables.
Overview
18
18
years of professional experience
Work History
Property Product Manager
Universal North America Insurance Company
01.2022 - Current
- Executed product changes to promote financial strength of $210M book of homeowner and landlord insurance products with over 141K clients in eight states
- Collaborated with underwriting, actuarial, and sales teams to analyze and propose program revisions that attract target business
- Presented product proposals to senior management for approval to implement
- Managed $78M book of homeowner and landlord insurance products in Arizona, Nevada, North Carolina, and Texas with over 64K clients, resulting in 53% loss ratio and 40% total premium growth since 2022
- Proposed and implemented various product revisions to maximize profitability and renewal retention, adding $12M to annual premium revenue while growing policies in force by 48%
- Analyzed and responded to emerging property coverage issues such as roof depreciation and water loss mitigation, contributing to 2pp decrease in loss frequency and 1% increase in loss severity since 2021
- Validated user interfaces, system requirements, and premiums to support conversion of homeowner, landlord, and businessowner policies to Guidewire, contributing to legacy system sunset at end of 2023
Product Manager
Animo Insurance Services
01.2021 - 01.2022
- Supported Fintech start-up efforts by developing direct-to-consumer homeowner and personal auto products in 40 states
- Created customer facing documents including contract forms, declarations pages, and rule manuals
- Initiated and responded to product filings with state insurance departments for regulatory approval
- Created a countrywide product framework for homeowner product line, leading to filing and approval of over 300 policy forms in six months
- Utilized third party tools like Verisk, NILS, and AM Best to expedite implementation of personal auto and homeowner programs, leading to product approvals in 25 states in four months
- Replicated competitor programs to promote speed to market with added product features that resonate with the company’s target market
Product/Marketing Manager
Forreston Mutual Insurance Company
01.2017 - 01.2021
- Provided product management support to affiliated carriers with $57M premium volume and operating in 12 states
- Developed specialized property insurance programs for customers in Illinois, directing $14M book of business
- Led technology enhancements that support quoting, billing, and processing of insurance policies
- Revamped specialty landlord, homeowner, and farm products, resulting in 50% loss ratio and 45% total premium growth since 2017
- Introduced new personal lines products to support new strategic alliance and state expansion efforts, growing annual revenue 10%
- Enhanced structures of specialty landlord and mobile home products to promote growth in niche markets, resulting in 11% annual increase of in-force customers and 44% loss ratio since 2017
- Provided marketing collateral and competitive insights to build brand awareness and support expansion of agency plant, expanding number of producing agents 42% over past four years
Personal Lines Product Manager
Grange Insurance Enterprise
01.2014 - 01.2017
- Contributed to development of personal auto and homeowner products with $850M in premium volume in 12 states
- Led product initiatives for $40M book of business in Illinois and Minnesota with over 25K clients
- Developed pricing segmentation changes to influence positive premium and loss performance
- Collaborated with senior management, sales, and other areas to propose and implement product revisions
- Led development and launch management of new personal auto and homeowner products during corporate reorganization, achieving 58% loss ratio
- Provided subject matter expertise to redesign of enterprise’s personal auto and homeowner programs, contributing to 5% additional premium growth and 49% loss ratio
- Proposed and implemented changes to personal auto book that promote rate stability and transparency, leading to 3pp increase in retention
Product Consultant/Associate Product Manager
Allstate Insurance Company
01.2007 - 01.2014
- Implemented product initiatives to achieve profitable growth of $350M book of specialty insurance products sold through multiple distribution channels
- Enhanced motorcycle and boat programs to increase price segmentation and ensure proper rating classifications
- Served as product owner to convert all agency processing systems to browser-based platforms
- Launched redesigned motorcycle and off-road vehicle products in 25 states to introduce new forms, coverages, and rating plans, leading to over 100% increase in new applications
- Introduced web interface to enable quoting and purchase of motorcycle policies by online consumers, resulting in 6K+ new items yearly
- Led project team of new hires to upgrade agency processing systems with $25M annual budget, resulting in successful completion after two years and award to attend 2013 Allstate Sugar Bowl
Education
Bachelor of Business Administration - Finance Major
University of Wisconsin – Oshkosh
Skills
- Product vision and strategy
- Technology-driven user solutions
- New product development
- Policy contract creation
- Excel and database analytics
- Business requirements and testing
- Project implementation
- Strategic planning
- Competitive analysis
- Teamwork and collaboration
- Data-driven decision making
- Product backlog management
- Pricing strategy
- Critical thinking
Timeline
Property Product Manager
Universal North America Insurance Company
01.2022 - Current
Product Manager
Animo Insurance Services
01.2021 - 01.2022
Product/Marketing Manager
Forreston Mutual Insurance Company
01.2017 - 01.2021
Personal Lines Product Manager
Grange Insurance Enterprise
01.2014 - 01.2017
Product Consultant/Associate Product Manager
Allstate Insurance Company
01.2007 - 01.2014
Bachelor of Business Administration - Finance Major
University of Wisconsin – Oshkosh
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