Product Analyst

  • 37459
  • Non-Life - Actuarial
  • |
  • Massachusetts, United States
  • |
  • Jun 1, 2020
Insurance
RESPONSIBILITIES
  • Supports the development and maintenance of property and casualty insurance products with shared responsibilities for growth and profitability.
  • Extracts and analyzes data at the regional, state and agency level to determine profit and loss drivers and identify growth opportunities. This includes analysis of demographics, competitors and regulatory statutes to create proposals for product development, pricing and to write business requirements.
  • Takes a lead role on cross-functional teams.
QUALIFICATIONS
  • Bachelor's Degree or professional level of knowledge in a specialized field, or equivalent, related experience.
  • 2 - 4 years - or Associates Degree equivalent plus 4 - 6 years.
  • General knowledge of industry practices, standards, and concepts within field of work. Applies them to perform work requiring analytical business skills.
  • Makes decisions related to a wide variety of situations within management limits. Interprets guidelines and procedures, applying judgment and discretion. Decisions influence portions of a project, client relationships and/or expenditures.
  • Works independently under general supervision. Work is reviewed for overall adequacy in performing tasks.
  • Provides guidance and training to less experienced staff as needed. Takes a lead role in team or project work.
  • Applies knowledge to determine solutions to complex problems with minimal direction. Uses research and analysis to develop innovative and practical solutions, which are consistent with organizational objectives.
  • Manages internal and external relationships. Represents organization as prime contact for projects and other necessary communications. Interaction may include senior internal and external personnel on significant matters often requiring complex coordination between organizations. Communication involves persuasion and negotiation, as applicable. Seeks ways of improving client service.
  • - Knowledgeable in analyzing financial results, profitability, and forecasting. Evaluate top and bottom line impacts of action plans. Utilize various data to identify new profit and growth opportunities.
  • Attention to detail with ability to manage multiple tasks/priorities while working in a fast-paced environment with limited supervision. Flexibility to handle assignments in various states of completion at the same time.
  • Basic knowledge of actuarial and pricing concepts.
  • Excellent project management skills.
  • Excellent verbal, written communication and presentation skills.
  • Working knowledge of market and regulatory research tools, including rate and form circulars issued by rating bureaus.
  • Strong mathematical aptitude and analytical skills required.
  • Quantitative analysis and critical thinking skills.
  • Intermediate experience using Microsoft Excel, Word, PowerPoint and Access.
  • Working knowledge of SAS and/or other data analysis tools preferred.
  • Ability to lead cross functional teams to make critical product and pricing decisions.
  • Ability to deal with ambiguity and determine the correct course of action.
  • Working towards insurance designations of licenses such as CPCU, ARM, AU etc. preferred.
  • Assist in the training process when appropriate.