Senior Insurance Product Analyst - Homeowners (Hybrid)

American Family Insurance•Boston, MA

6d•$88,000 - $145,000•Hybrid

About The Position

The Senior Product Analyst position requires a strategic thinker who can manage the technical aspects of insurance product development and lead programs that contribute to the broader enterprise strategy through informed insights. You will focus on developing new products that improve Homeowners insurance products using contract language, underwriting guidelines, system/platform, automation and use of pricing/predictive analytics. Responsibilities include identifying potential insurance markets, creating strategic plans for market entry, managing the insurance product development lifecycle, and improving products to increase profitability, improve growth and improve customer experience. We ask that you have a high level of analytical skill, generating insights and creating cost benefit analysis using performance metrics, customer feedback, market trends, and competitor activities. After implementation, the Senior Product Analyst monitors performance, including customer and agent satisfaction and financial benefits realization. The Senior Product Analyst will report to the Senior Manager, Product.

Requirements

Demonstrated experience providing customer-driven solutions, support or service.
Demonstrated experience performing complex financial, actuarial or business analysis.
Solid knowledge and understanding of customer, business industry, insurance, underwriting guidelines and risk concepts in area of expertise.
Demonstrated problem-solving and analytical skills to review complex products, and/or lines of business.
Demonstrated experience making independent decisions.
Demonstrated experience in project management methodologies, practices, techniques and tools.

Responsibilities

May serve as project lead for implementation of products and services.
Monitors and analyzes the performance of the product lines, agent, or book of business.
Evaluates profit factors and conducts analysis of performance data to provides product strategy recommendations relating to profit, growth, retention, and overall book of business.
Develops and maintains effective working relationships with other lines to identify product gaps and opportunities.
Researches and develops concepts for complex new or enhanced products and/or services.
Works with partners in pricing/actuarial, claims, etc. to ensure product compliance and financial viability.
Prepares contract language, develops initial underwriting guidelines and standards, and oversees development of new predictive analytics including pricing models and other predictive models.
Serves as subject matter expert in development of contract language and/or underwriting guidelines. Ensures product compliance.
Produces detailed competitive research and analysis for personal lines products using a variety of information sources and tools to support decision making. Analyzes all available data forming conclusions regarding our competitive position in the marketplace. Provides recommendations to leadership to capitalize on product offerings and geographical areas.
Provides expertise regarding how competitor actions and industry trends influences personal lines ability to meet corporate and divisional objectives. Makes recommendations to management regarding operational and product changes that may enhance our competitive position.
Stays abreast of all rate changes, rating enhancements and program changes by our competitors; researches competitor filings, rate and rule manuals to ascertain changes made and their impact on our competitive position. Ensures analysis and reporting accuracy explaining drivers and insights relating to competitive position changes.