The Product Analyst will participate in the analysis, maintenance, implementation, and development of personal auto insurance programs, including pricing, procedures, research, and underwriting to support the Sr. Product Managers with the continued development of profitable growth.
Essential Job Results :
% of Time
Results Expected and Duties Performed
Assist the Sr. Product Managers to drive the successful development of new products and the effective management and enhancement of existing products by making recommendations, based on analysis and research, regarding product design, pricing, underwriting, agency management, distribution, claims, and other processes.
Ensure overall goals for production and underwriting profitability are met by analyzing premium rates, loss experience, and retention and providing summaries of analysis to Sr. Product Managers to assist in the decision making process.
In conjunction with Corporate and Regional Product departments, develop state profit and growth strategies and translate business ideas and market opportunities into new product ideas by researching and maintaining awareness of all major competitors’ current market positions (i.e. rates, service levels, financial positions and operating strategies), business directions, financial dynamics, and new technologies.
Ensure regulatory compliance by researching and maintaining awareness of existing state and federal statutes, as well as new legislation; includes state filings, licensing, consumer complaint resolution, assessments; market conduct examinations, audits, and DMV report.
Prepare filings and ensure accuracy and completeness of all state filings (including rates, forms, and underwriting guidelines) in order to obtain approval from the Department of Insurance by working with regional Sr. Product Managers and actuarial staff to submit filings to the Department of Insurance and respond to the DOI for filings and other interactions.
Identify key levers and priorities for large amounts of information by applying critical thinking skills to the analysis of internal and external data.
Create business requirement documents detailing rate changes or other program changes to be used by the IT department to program/implement as requested. Communicate and coordinate requested changes to ensure proper implementation. Involves developing working relationships with Accounting, Actuarial, Claims, Customer Service and IT
Actively test rate changes as well as other program changes to ensure programming has been completed per business requirements as defined by the Product Analyst, Sr. Product Manager, etc.
Required behaviors for all positions :
- Communicate with co-workers, management, customers, vendors, and others in a courteous and professional manner
- Conform with and abide by all Company codes, regulations, policies, values, work procedures and instructions
- Regular attendance
Education : Bachelor’s degree, with preference given to Accounting, Finance, Statistics, Math, Insurance or a related field of study.
Experience : 2 or more years with current experience as a Product Analyst, preferably with personal auto insurance products. Current experience with pricing analysis and providing product change recommendations to Sr. Product Managers and Senior Management. Proven problem solving and analytical skills used to make decision regarding the Product. Experience working with Product and Marketing departments for new state implementation; research and development of business requirements. Experience with submitting form and rate filings and responding to the DOI comments/objections. Experience working independently and with others in a team environment.
Skills and Abilities : Excellent verbal and written communication skills including the ability to effectively present summary of analytical work and ideas to Senior Management, other departments and staff; ability to gather, extract, monitor, format and understand information and express ideas effectively at all levels of the organization; strong analytical skills; excellent organizational and time management skills; ability to balance quantitative analysis with competitor behaviors with the marketplace; excellent project management skills; excellent analytical or quantitative aptitude; strong problem solving skills; MS Office skills with proficiency in Access, PowerPoint, Word, Outlook, MapPoint, and Excel, including pivot tables. SAS experience preferred.
Compensation : Competitive salary based on experience. Excellent benefits package: medical, dental, vision insurance, life insurance, short term and long term disability insurance, 401K, Paid Vacation and Holidays. EOE.
Gainsco Auto Insurance - 2 years ago
GAINSCO, INC. is a Dallas, Texas-based holding company established in 1978. The Company, through its insurance brand, GAINSCO Auto Insurance...