Product Research Senior Analyst

Westfield•Westfield Center, OH

11d•Hybrid

About The Position

The Product Research Senior Analyst is responsible for assisting Product Managers Product Management Leader to drive profitable growth objectives. The role extracts and manipulates data from various sources to analyze trends, identify/understand key drivers and monitor results against expectations. The role develops and evaluates expected business impacts due to planned initiatives including monitoring and reporting. The role conducts competitor analysis, market research and utilizes strong analytical skills, an insatiable curiosity, a drive to solve problems by analyzing complex data, and the ability to work with limited supervision to discover and implement solutions.

Requirements

3-5 years of experience in Product Research, Insurance industry or a related field.
Bachelor's degree in market research, statistics, data science, business, or a related field and/or commensurate work experience.
Business Requirement Gathering
Technical Documentation
Data Reporting and Analysis
Product Development Lifecycle
Business Analysis
New Product Development
Market Research
Product Analytics

Nice To Haves

Certified Market Research Professional (CMRP)
Certified Analytics Professional (CAP)

Responsibilities

Independently conduct and understand data analysis of business results (frequency/severity, customer mix, rate need, competitive position) to assess profitability and growth opportunities and identify root cause.
Formulate and execute potential recommendations to drive desired growth & profitability impacts based on established strategy with consideration for marketplace conditions and internal results
Present, inform and influence product and pricing recommendations to business partners including underwriting and sales.
Serve as the analytical BOP lead for rate reviews, territory analyses, segmentation studies, and new rating variable development.
May function as a subject matter expert in strategic initiatives to support the goals and objectives of the broader organization.
Develops top and bottom-line forecasts and rigorously analyzes and evaluates product performance metrics against those plans to identify divergence from expectations. Recommends actions based on actual results and builds contingency plans.
Monitor effectiveness of business initiatives and strategies, impacts to rate and pricing changes, book mix changes, and any outliers in trends; then provide recommendations on potential course of actions.
Evaluate underwriting performance and partner with Underwriting leadership to refine rules or guidelines.
Collaborate with IT and Product Development to drive implementation of rate, rule, and system updates.
Demonstrates excellent problem-solving abilities, in a practical way, to balance between addressing root cause and introducing changes in fast order.
Acquires market and competitive intelligence and develops knowledge of emerging trends to effectively compete in a rapidly changing environment and shares knowledge with the organization.
Develops a deep understanding of the regulatory and statutory environments for assigned states and/or lines of business. Ensures product decisions and processes are in alignment with company policies and meet all legal and regulatory requirements.