Product Analyst

Independence Pet Group•Chicago, IL

4d•Hybrid

About The Position

The Product Analyst plays a key role in supporting the development, performance, and competitiveness of an MGA’s pet insurance portfolio. This position blends analytical rigor with industry insight, helping shape product strategy, optimize underwriting outcomes, and ensure products remain compliant, market‑relevant, and aligned with customer needs. This position is ideal for someone who is passionate about pet insurance, comfortable navigating both technical and business domains, and eager to influence product decisions within a dynamic MGA environment.

Requirements

Bachelor’s degree preferred, ideally in Risk Management, Business, Economics, Finance, Mathematics, Statistics, or Actuarial Science.
8+ years of Product experience within the insurance industry; pet insurance, personal lines, or MGA experience strongly preferred.
Demonstrated understanding of insurance industry trends, state regulatory requirements, and compliance processes, particularly those relevant to MGAs.
Strong commitment to data‑driven analysis and decision‑making.
Proven ability to foster a collaborative culture, working effectively with stakeholders across multiple levels and departments.
Ability to work independently, think critically, and approach challenges with creative problem‑solving.
Proficiency in Microsoft Office, with strong skills in Excel and PowerPoint.
SQL, Pyhthon, or R preferred

Responsibilities

Provide strategic support to Product leadership by delivering actionable recommendations on product and brand direction, including underwriting guidelines, risk appetite, rating algorithms, and product strategies.
Support new product development and product enhancements by gathering business requirements, conducting impact analyses, and ensuring alignment with broader product objectives.
Ensure all operational product changes adhere to regulatory and compliance standards applicable to MGAs and insurance carriers.
Partner with Marketing, Actuarial, Underwriting, Product Portfolio, Data & Analytics, and Implementation teams to design and deliver system and process solutions that advance product initiatives.
Collaborate with Training and Marketing teams to develop communication plans, training materials, and marketing assets for new or enhanced products.
Conduct post‑implementation monitoring of product or brand strategies using defined success criteria.
Support portfolio analysis by developing, tracking, and interpreting KPIs to inform product performance decisions across the MGA’s book of business.
Conduct deep‑dive analyses of key competitors across the pet insurance ecosystem, including traditional insurers, tech‑driven entrants, and cross‑sector disruptors.
Maintain and enhance a competitor intelligence framework covering pricing, claims models, marketing strategies, underwriting partners, and customer acquisition tactics.
Analyze public filings, investor presentations, press releases, and industry reports to identify competitor KPIs, strategic shifts, and market positioning.
Monitor competitor partnerships and distribution channels (e.g., veterinary networks, pet retailers, embedded insurance platforms) and assess their potential impact on the MGA’s market share.
Benchmark innovations in insurance and non‑insurance offerings—such as wellness packages and loyalty programs—against current MGA product offerings.
Create detailed competitor profiles and produce monthly competitor intelligence briefings for executive stakeholders.
Support senior leadership with strategic initiatives, portfolio reviews, and business planning.
Perform other duties and responsibilities as assigned to support the broader product organization.