Analyst, Product Rating

Travelers•Hartford, CT

13d

About The Position

The Product Rating team collaborates with business units across personal or commercial insurance on all variables associated with premiums to achieve financial and strategic objectives at the national and the state/province level. The responsibilities of the team include leveraging and maintaining business-controlled rating engine/technologies, designing and implementing rate structures, updating product configuration rules, ensuring adherence of rating practices to regulatory and filing requirements, and resolving issues that may arise. As an Analyst, Product Rating you will contribute to the comprehensive examinations of business requirements and rate structure changes through knowledge of current industry trends and techniques. You will also deliver outcomes that meet or exceed established quality standards, punctuality to deadlines and enhance customer satisfaction and operational efficiency.

Requirements

Bachelor's degree in a related field.
Two or more years of programming and configuration, development, product, actuarial, regulatory or rating experience.
Familiarity of personal or commercial property casualty insurance products.
Working knowledge of relational databases, rating engines, programming languages and/or the methodologies used in assessing risk and determining pricing strategies.
Verbal and written communication skills to effectively collaborate with and influence agents and consumers.
Critical thinking and analysis skills to address rating challenges and develop solutions.
Organization and time management skills to prioritize workload and ensure timely completion of assignments.
Ability to identify opportunities for improvement and contribute creative ideas or solutions.
Bachelor’s degree in computer science or a related field, or equivalent combination of education and work experience.
One or more years of programming, development, product, or rating experience.

Responsibilities

Conduct thorough analysis and contribute to business requirements, including rate filings and related documentation to ensure alignment with strategic objectives and regulatory standards.
Design and implement less complex rate structure changes and build rate pages for rate manuals.
Determine testing scope, perform unit testing, and validate modifications to adhere to best practices and business unit filing and regulatory requirements.
Assist in the triage and resolve issues that arise during subsequent testing phases.
Ensure optimal functionality and accuracy of product configuration rules, rate factors within existing rating tables, and other business owned rating technologies.
Develop effective relationships with business partners such as actuarial to provide insightful consultation on the development of rating business and worksheet requirements.
Identify the root cause of rating discrepancies and perform analysis to rectify the issue.
Perform other duties as assigned.