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Insurance Innovation information

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$23.5K

$59.1K

$97.5K

How much do insurance innovation jobs pay per year?

As of Jun 1, 2026, the average yearly pay for insurance innovation in the United States is $59,095.00, according to ZipRecruiter salary data. Most workers in this role earn between $40,500.00 and $77,500.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive in Insurance Innovation, and why are they important?

To excel in Insurance Innovation, professionals typically need a strong background in insurance principles, data analysis, and business strategy, often supported by a degree in business, finance, or actuarial science. Familiarity with insurtech platforms, analytics tools, and certifications such as CPCU or AINS is highly beneficial. Creative problem-solving, adaptability, and effective communication are crucial soft skills for driving change and collaborating across departments. These skills enable professionals to identify emerging trends, design innovative products, and maintain a competitive edge in a rapidly evolving industry.

How does the Insurance Innovation role typically collaborate with other departments to drive new product development?

Professionals in Insurance Innovation frequently work cross-functionally, partnering with underwriting, IT, marketing, and actuarial teams to bring new insurance products to market. They act as a bridge between customer needs and technical feasibility, ensuring that innovative solutions are both viable and compliant. Regular brainstorming sessions, pilot program coordination, and feedback loops with stakeholders are common, making strong communication and project management skills essential for success in this collaborative environment.

What is insurance innovation?

Insurance innovation refers to the development and implementation of new ideas, technologies, or business models within the insurance industry. This can include digital transformation, the use of artificial intelligence, new insurance products, improved customer experiences, or novel approaches to risk assessment and claims processing. The goal of insurance innovation is to make insurance more efficient, accessible, and responsive to changing customer needs. Insurtech companies are a major driver of innovation, often leveraging technology to disrupt traditional insurance practices. Ultimately, innovation helps insurers stay competitive and better serve their clients.

What is the difference between Insurance Innovation vs Insurance Underwriter?

AspectInsurance InnovationInsurance Underwriter
Required CredentialsTypically a background in business, technology, or data analysis; certifications like Certified Innovation Professional are commonDegree in finance, economics, or related field; professional certifications like CPCU or FCAS often required
Work EnvironmentCollaborative, often in tech-driven or R&D teams within insurance companiesAnalytical, detail-oriented, working in underwriting departments or risk assessment teams
Employer & Industry UsageUsed across insurance companies focusing on product development and process improvementCore role in insurance companies managing risk assessment and policy approval

Insurance Innovation focuses on developing new insurance products, leveraging technology, and improving processes, often requiring a background in business or tech. Insurance Underwriters evaluate risks and determine policy terms, requiring strong analytical skills and industry-specific credentials. While both roles are vital in the insurance industry, they serve different functions—Innovation drives growth and modernization, whereas Underwriting manages risk and policy issuance.

More about Insurance Innovation jobs
What states have the most Insurance Innovation jobs? States with the most job openings for Insurance Innovation jobs include:
What job categories do people searching Insurance Innovation jobs look for? The top searched job categories for Insurance Innovation jobs are:
Insurance Innovation jobs near you
Infographic showing various Insurance Innovation job openings in the United States as of May 2026, with employment types broken down into 95% Full Time, 4% Part Time, and 1% Contract. Highlights an 98% Physical, 1% Hybrid, and 1% Remote job distribution, with an average salary of $59,095 per year, or $28.4 per hour.
Product Owner (AI & Insurance Innovation)

Product Owner (AI & Insurance Innovation)

Insurance Office of America

Edmond, OK

$80K - $95K/yr

Full-time

Posted 8 days ago

Insurance Office Of America rating

8.6

Company rating: 8.6 out of 10

Based on 5 frontline employees who took The Breakroom Quiz

72nd of 259 rated insurance

Job description

Description

Job Description:

Title: Product Owner  (AI & Insurance Innovation) – Enterprise Systems 


Fully Remote
Please note: If this position is posted as either fully remote and/or hybrid, in accordance with company policy, individuals residing within a 50-mile radius of a branch location may be required to work onsite in a hybrid capacity as there may be occasions when on-site presence is necessary to meet specific business needs. Additionally, our remote work policy includes having a dedicated, distraction-free workspace. Remote work is not a substitute for childcare, elder care, or other personal responsibilities during working hours. To view our branch locations, please visit: ioausa.com/locations 
About the Role: The Product Owner will play a pivotal role in driving the integration of Artificial Intelligence into IOA’s core product suite. Reporting to the Director of Product Management, you will lead initiatives that modernize critical areas such as back-office automation, automated underwriting, touchless claims processing, and client engagement. This role requires a deep understanding of insurance industry workflows and the ability to translate business needs into actionable product strategies that deliver measurable impact. 
Key Responsibilities: 

  • Product Roadmap: Define and maintain a product roadmap aligned with organizational goals and vision. 

  • Discovery & Research: Conduct industry research and competitive analysis to inform feature development. 

  • Backlog Management: Prioritize and manage the product backlog to meet delivery milestones. 

  • Requirements Documentation: Create clear, concise product requirements, including functional specifications and process flows. 

  • User Stories: Develop high-quality User Stories and acceptance criteria for development teams. 

  • Design Collaboration: Partner with UX Designers to create prototypes and wireframes. 

  • Sprint Leadership: Lead Sprint Planning, Daily Stand-Ups, Sprint Demos, and Retrospectives. 

  • Backlog Grooming: Facilitate backlog refinement sessions to ensure clarity and prioritization. 

  • Cross-Functional Alignment: Collaborate with technical teams to estimate development efforts and plan releases. 

  • Stakeholder Engagement: Work with clients and internal teams to define and negotiate requirements. 

  • Dependency Management: Identify and manage dependencies across teams and systems. 

  • Metrics Analysis: Analyze product performance metrics to identify areas for improvement and optimize conversion. 

  • Domain Expertise: Develop deep knowledge of core business functions, processes, and workflows. 

  • Technical Understanding: Maintain familiarity with core systems, applications, and technical platforms. 

  • Leadership & Communication: Influence stakeholders at all levels through strong organizational and communication skills. 

Ideal Candidate Qualifications: 

  • 3+ years of experience as a Product Owner within the insurance industry. 

  • Proven track record of delivering AI-driven products. 

  • Extensive experience leading Scrum teams and managing complex dependencies. 

  • Bachelor’s degree in Computer Science, Information Systems, Business, or equivalent industry experience in a relevant role. 

  • Strong understanding of software engineering principles. 

  • Demonstrated success in gathering and defining requirements. 

  • Innovative mindset with a commitment to continuous learning and improvement. 

  • Excellent written and verbal communication skills for both technical and business audiences. 

  • Relevant certifications in Product Management or related disciplines. 

 
Eligibility Requirement:
Candidates must be legally authorized to work in the United States without the need for current or future visa sponsorship. This role does not support employment-based visa sponsorship.

What We Offer: 

  • Highly competitive pay rate based on relevant work experience. 

  • Compensation for travel and mileage. 

  • Respectful culture and work/family life balance 

  • Community service commitment 

  • Supportive teammates and a rewarding work environment 

 
What to Expect (Application Process): 

  • 30-Minute Phone Screen, Online Assessments, and Interview(s) 

Salary Range

The expected pay range for this position is $80,000 to $95,000 per year, depending on experience, relevant skills, and geographic location.

Insurance Office of America is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

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