Product & Compliance Analyst

Vermont Mutual Insurance•Montpelier, VT

About The Position

Research, recommend, revise and/or author insurance products, with an emphasis on product rules and forms. Draft, review, and submit company product filings for state review and approval. Monitor regulatory and legislative changes with the purpose of keeping affected business areas informed of developments and their operational impact. Assist with company responses to consumer complaints, market conduct examinations, and insurance department data calls and reporting.

Requirements

Bachelor's degree in political science, legal studies, economics, business or related field, plus two to three years of relevant insurance underwriting experience, or a combination of education and experience from which comparable knowledge and skills are acquired.
Excellent mathematical and analytical skills.
Strong knowledge of the insurance industry.
Strong underwriting or claims background.
Proficient in the use of Microsoft Office, including Word, Outlook and Excel; Experience with Imaging systems.
Ability to represent the company and deal effectively with government insurance department personnel; ability to work effectively with a wide variety of company personnel.
Good communication including reading and writing skills.
Team player.
Highly motivated.

Responsibilities

Complete competitor coverage form and policy analysis.
Monitor and analyze ISO rule and form filings and make appropriate recommendations on company action.
Assist with product development including authoring rules and forms for a new product offerings.
Coordinate the state product filing process including but not limited to: Compose filing descriptions and memorandums used in state filings;
Create and compile filing materials with completeness and accuracy;
Respond to State Insurance Department requests;
Monitor filing status;
Organize and maintain detailed records on all company filings.
Assist in the implementation of new products including but not limited to: Provide product interpretations for system development;
New product education of underwriting and marketing management;
Assist in the development of new product underwriting manuals;
Assist in the distribution of product approval notifications and supporting materials.
Monitor regulatory and legislative changes;
Analyze and interpret compliance requirements for regulatory and legislative changes;
Collaborate with legal, underwriting, and claims management to develop a strategy to address regulatory changes, and follow up with appropriate areas to ensure required changes are implemented.
Coordinate, track and review company responses to consumer complaints.
Coordinate, track and review company responses to state insurance department inquires, data calls, market conduct examinations, audits and reporting.
Performs other duties or special projects as required or assigned.