The primary efforts of the Sr. Product Development Analyst is to develop and present pricing, underwriting, and filing strategies in response to business needs with input from the Marketing Channel owner, Business areas and Product areas.
- Expands company business by sourcing new business ideas and market opportunities through interactions with channels, clients, competitive analysis, industry trends and/or primary research.
- Conducts in-depth state, competitor, or countrywide research of competitor filings utilizing various sources.
- Recommends pricing/form and state implementation strategies.
- Presents state reviews and other product analysis to all stakeholders.
- Documents new and revised changes, rules, forms, referrals and endorsements.
- Provides technical support; provides input on referrals, proposals, and decisions.
- Develops state compliance knowledge and awareness of issues.
- Evaluates data to ensure integrity/quality.
- Analyzes and interprets rates, data, and trends, and presents data summary to management.
- Develops applications of ratemaking, including profitability and risk loads.
- Develops solid understanding of systems and supports work performed by cross-functional teams.
- Develops solid risk management measures, trends, risk reduction tools and applications.
- Reviews filing indications prepared by Actuaries and makes appropriate recommendations.
- Creates, implements and tests business specifications by working with IT.
- Assists agency partners by attending agency presentations as product expert when necessary.
- Keeps up on the latest industry and consumer trends by attending educational workshops, reviewing professional publications, Internet research, establishing personal networks, and/or participating in professional societies.
- Learns basic actuarial concepts, including loss development and trending.
- Learns terminology and workflow of claims, IT, and business centers. Develops relationships with employees in all these areas, as well as outside companies for potential strategic alliances and/or vendor administrators.
- Provide input to yearly planning for product and filings.
- Conducts high complexity product analysis independently.
- Serve as point person for high complexity product/filing implementation.
- In-depth knowledge on products & services, key strategies, primary projects, and business plan.
- Demonstrated knowledge of ISO and other industry insurance forms by being able to draft policy and endorsement language
- Strong planning, organizational, and project management skills; in-depth analytical skills, including strong product analysis ability.
- Excellent listening and communication skills, including written and verbal.
- Strong decision making skills.
- Experience in implementing different pricing strategies including, discounts, new product, and major product updates.
- Constant attention to detail; creative thinking; working under tight deadlines.
- Solid understanding of prioritization and communication issues.
- Minimum 5+ years of experience in the function or similar activity outside the company.
- Bachelor’s Degree in Business Administration, Communications, Math or related field, or equivalent work experience.
- Knowledgeable in all aspects of business (underwriting, regulatory/legal, marketing, finance/pricing, operations, technology, etc.).
- Proficient with Microsoft Word, Excel and Access
- Remote opportunities available
- Ability to work from home when required (i.e., high speed internet connection, personal computer).