Product Analyst or Sr Product Analyst

Western Reserve Group•Wooster, OH

2d•Onsite

About The Position

One position will be staffed based on skills and experience. Candidates should possess strong product knowledge with a background in either Commercial Lines or Personal Lines. PRODUCT ANALYST The Product Analyst supports the development, enhancement, and regulatory management of Property & Casualty insurance products across personal, commercial, and farm lines of business. This role contributes to product research, competitive analysis, and compliance activities while assisting in product lifecycle initiatives from concept through implementation. The Product Analyst collaborates with Underwriting, Actuarial, IT, Claims, Marketing, and external stakeholders to help ensure products remain competitive, compliant, and aligned with the company’s underwriting appetite and strategic objectives. SR PRODUCT ANALYST The Senior Product Analyst leads the development, enhancement, and regulatory management of Property & Casualty insurance products across personal, commercial, and farm lines of business. This role serves as a subject matter expert in product research, competitive intelligence, and regulatory compliance while driving product lifecycle initiatives from concept through implementation. The Senior Product Analyst partners cross-functionally with Underwriting, Actuarial, IT, Claims, Marketing, and external stakeholders to ensure products are competitive, compliant, profitable, and aligned with the company’s underwriting appetite and strategic goals.

Requirements

Bachelor’s degree: equivalent industry experience may be considered.
1+ years of experience in Product Development, Underwriting, Claims, or related roles within the Property & Casualty insurance industry.
Working knowledge of insurance coverage forms, endorsements, and rule structures.
Understanding of insurance statutes and regulatory requirements.
Knowledge of Property & Casualty market dynamics, competitor products, and basic pricing and profitability concepts.
Ability to interpret and draft insurance contract language, rate manuals, and underwriting guidelines with guidance as needed.
Strong written and verbal communication skills, with the ability to collaborate effectively with business systems analysts, developers, regulators, underwriting and claims professionals, marketing teams, agents, and internal leadership.
Comfortable participating in meetings and delivering presentations to small groups.
Understanding of rating algorithms and the interaction of rating factors.
Ability to analyze business and insurance performance metrics and support evaluation of product and pricing decisions.
Strong analytical and problem-solving skills.
Ability to interpret insurance contract language and technical concepts.
Sound judgment with the ability to evaluate information and make practical recommendations.
Strong organizational and time management skills, with the ability to manage multiple priorities.
High attention to detail and accuracy.
Ability to work independently while contributing effectively within cross-functional teams.
Strong research, analytical, and critical thinking skills.
Effective listening and stakeholder communication skills.
Developing business acumen and understanding of underwriting appetite and risk exposure.
Experience supporting projects and meeting defined timelines.
Strong business writing and presentation skills.
Proficiency in Microsoft Word, Excel, and PowerPoint.
Self-motivated professional who demonstrates initiative and a proactive approach to learning and continuous improvement.
5+ years of experience in Product Development, Underwriting, or Claims within the Property & Casualty insurance industry.
Extensive knowledge of insurance coverage forms, endorsements, and rule development.
Comprehensive understanding of insurance statutes and legislative processes.
Professional insurance designations such as CPCU, API, AU, ARM, or similar advanced credentials.
Strong knowledge of Property & Casualty market dynamics, competitor products, pricing strategies, financial drivers, and profitability analysis.
Advanced ability to interpret, draft, and revise complex insurance contracts, rate manuals, and underwriting rules.
Exceptional written and verbal communication skills, with the ability to tailor messaging to diverse audiences including business systems analysts, developers, regulators, underwriting and claims professionals, marketing teams, agents, insureds, and senior leadership.
Confident and effective presenter, comfortable leading discussions and speaking to groups.
Strong understanding of rating algorithms and the interaction of rating factors and relativities.
Ability to interpret business and insurance performance metrics and clearly articulate the financial impact of product and pricing decisions.
Strong analytical and problem-solving skills.
Ability to interpret and communicate complex insurance contract language and technical concepts.
Sound reasoning skills with the ability to evaluate alternatives, assess risk, and make well-supported recommendations.
Excellent organizational and time management skills, with the ability to manage multiple priorities in a deadline-driven environment.
High attention to detail and accuracy.
Ability to work independently while also collaborating effectively in cross-functional teams.
Strong research, analytical, and critical thinking skills.
Active listening and effective stakeholder interviewing skills.
Demonstrated organizational awareness and business acumen.
Strong relationship-building, collaboration, and influencing capabilities.
Experience in project planning and management.
Strong business writing and professional presentation skills.
Solid understanding of underwriting appetite, risk exposure, and coverage intent.
Advanced proficiency in Microsoft Word, Excel, and PowerPoint.
Self-directed professional who demonstrates initiative, ownership, and a proactive approach to continuous improvement.

Nice To Haves

Exposure to state Insurance Department filing processes preferred.
Progress toward or interest in obtaining professional insurance designations (e.g., CPCU, API, AU, ARM) encouraged.
Experience navigating state Insurance Department regulatory processes, including preparation and submission of rate, rule, and form filings, preferred.
Ongoing professional development through relevant coursework, seminars, and continuing education encouraged.

Responsibilities

Conduct product research and competitive market analysis to support product development and enhancement initiatives.
Assist in managing product lifecycle activities, including implementation, updates, and ongoing maintenance of assigned lines of business.
Maintain product documentation systems, including forms repositories, tracking tools, and other systems of record to ensure accuracy and version control.
Review and analyze insurance products, rating rules, and underwriting guidelines. Evaluate competitive offerings, bureau materials (e.g., ISO circulars), and regulatory updates to identify potential impacts.
Prepare and submit product, rate, and rule filings to state insurance departments in coordination with senior team members and Actuarial.
Collaborate closely with IT to define and implement system updates impacting web platforms, agency portals, and policy administration systems to ensure accurate product configuration and deployment.
Develop, review, and maintain all product-related materials, including policy forms, rate and rule manuals, applications, agency communications, policyholder notices, worksheets, and underwriting guidelines.
Assist in ensuring compliance with applicable state regulatory requirements related to rate, rule, and form filings. Maintain compliance documentation and communicate updates to internal stakeholders.
Partner with Actuarial on pricing-related projects, including rate revisions.
Provide product support to Underwriting and Claims, including assistance with coverage interpretation and gathering operational feedback for product improvements.
Perform other related duties and special projects as assigned to support business objectives and evolving organizational needs.
Serve as a subject matter expert and internal resource for product research and development, competitive market analysis, and financial impact assessment for products and projects as assigned.
Partner cross-functionally with Underwriting, IT, Marketing, Actuarial, Claims, and other departments to effectively manage the full product lifecycle from concept through implementation and ongoing enhancement.
Ensure compliance with all applicable state regulatory requirements related to rate, rule, and form filings. Coordinate with Actuarial to prepare and submit filings for approval of new and revised products. Recommend new products and modifications to existing offerings.
Maintain comprehensive compliance documentation and proactively communicate regulatory, coverage, and form changes to relevant stakeholders across the organization.
Partner with Actuarial on pricing initiatives, including rate revisions, profitability analyses, and other pricing-related projects.
Provide product support to Underwriting and Claims, including interpretation of coverage provisions. Solicit and incorporate operational feedback into product development and refinement initiatives.