Insurance Product Analyst/ Senior Insurance Product Analyst (Hybrid)

Selective Insurance Company of America•Short Hills, NJ

14h•Hybrid

About The Position

Position supports the currency, accuracy, and regulatory compliance of insurance products for the assigned line(s) of business. Understands rates, rules, and forms relative to regional and state insurance bureaus. Works in conjunction with Insurance Product leadership to manage the inventory of bureau circulars and related analytical projects, and determines if the organization has to or chooses to adopt bureau changes. Provides rate integration, error research, and form and market research capabilities that complement the Product Development Specialist skill set. All job duties and responsibilities must be carried out in compliance with applicable legal and regulatory requirements.

Requirements

Highly proficient written and verbal communication skills
Possesses strong technical underwriting skills and broad knowledge of company products, forms, rates, and rules
Working knowledge of rating structures and rate-rule integration, including how bureau rates flow into rating systems
Ability to conduct self-service filings and competitive research using available market intelligence tools
Ability to solve problems and make sound decisions based on diverse perspectives and effective use of data in a timely manner, even when faced with imperfect information
Effectively manages and executes on the appropriate balance between strategic thinking and attention to detail
Highly effective ability to develop relationships with internal and external customers/peers
Fosters teamwork, collaboration and a positive work environment
Acts as an early adopter and champion of new initiatives that align with organizational strategies
Highly proficient in use of all supplied desktop tools, including the automated underwriting and email systems
Strong working knowledge of ISO, AAIS or NCCI and Independent State Workers Compensation Bureaus circulars and bulletins
Ability to research and analyze coverage
Demonstrated ability to manage projects
Experience working with rating structures, rate/rule pages, loss cost multipliers, or rate integration into policy administration systems
Demonstrated experience analyzing coverage forms and endorsements — comparing competitor language, identifying coverage gaps, and evaluating compliance with state requirements
Experience coordinating multi-workstream initiatives (e.g., multi-state adoptions, product launches, system conversions) involving cross-functional partners.
5+ years Commercial Underwriting experience
Familiarity with insurance research platforms and filing databases (SERFF, SFDC, S&P Global Market Intelligence, or similar)
2+ years of experience with state regulatory filings, including preparing filings, managing filing timelines, and responding to Department of Insurance objections
3+ years specific line of business experience

Nice To Haves

College degree preferred

Responsibilities

Partners with the Product Development Specialists to support Insurance Product department responsibility for Services Office (ISO), Selective proprietary, American Association of Insurance Services (AAIS) rates, rules and forms currency.
Responsible for review and implementation of the National Council on Compensation Insurance (NCCI) and Independent State Workers Compensation Bureaus rates, rules and forms (WC only).
Ensures a consistent business process and tools for insurance product development as respects to intake, tracking, review, materiality and decisions in terms of ISO, AAIS (or NCCI and Independent State Workers Compensation Bureaus) circulars and bulletins.
Recommends actions outlining pros and cons when considering options with regard to circulars.
Determines requirements needed to adopt circulars and reviews system ramifications of the circulars/bulletins.
Collaborates with the Product Development Specialist regarding decisions, requirements and ramifications to Selective proprietary forms.
Executes filing support activities including delay filings and state filing documentation.
Supports Product Development Specialists' efforts to maintain inventory and accountability for existing rates, rules and forms. Includes oversight of delay/non-adopt ISO and AAIS (or NCCI and Independent State Workers Compensation Bureaus) circulars.
Manages regulatory and filing compliance matters relating to rates, rules, and forms for the assigned line of business.
Serves as the rate acumen subject matter expert within the Insurance Product team — supporting rate and rule ingestion, multi-state rate breakdown analysis, and the integration of rates into rating systems.
Complements the Product Development Specialist forms skill set on the rate side of product implementation.
Provides research and resolution support for errors and mods tied to rate, rule, and form deployment assisting in identifying root causes and coordinating corrections within the system and recommending process improvements to reduce recurrence.
Provides project coordination and analytical partnership with Product Development Specialists on multi-state programs and major product initiatives — including research, requirements documentation, competitive form comparison, and implementation tracking.
Conducts market research in support of insurance product development efforts — including competitive form analysis, coverage research, and self-service filings research using available tools for routine inquiries.
Identifies insurance product trends or needs, defining opportunities and presenting opportunities to Insurance Product Leader.