Product Development Analyst
Primary Duties and Responsibilities:
- Researches and performs quantitative/qualitative analysis on existing and emerging insurance markets, products and competitors.
- Develops new property/casualty insurance product lines in response to analysis.
- Analyzes and refines existing property/casualty insurance products to enhance the market competitiveness and address business/market issues.
- Develops and implements property/casualty insurance programs, standards and procedures.
- Participates in the implementation of new products, programs, standards or procedures.
- Supports Property/casualty insurance training programs.
- Provides support to project teams.
- Analyzes industry legislation and keeps current on new trends and developments that affect property/casualty insurance products/programs.
- Researches, develops and reviews insurance related communications, bulletins and memos for corporate/field sales personnel.
The role of other departments involved in program development and implementation
- Communicate effectively with others in a work environment.
- Deliver oral and written presentations to other departments.
- Represent the department on inter-departmental teams.
- Analyze current products to revise/develop new property and casualty and membership insurance related programs.
- Conduct quantitative and qualitative market research.
- CPCU, IIA, LOMA or other insurance-related coursework.
- Experience in developing/enhancing personal lines property/casualty products, including policy contract language work.
- Works in a temperature controlled office environment.
- Bachelor s degree in Business Administration, Mathematics, Actuarial Science or an insurance specific field.
College level coursework and experience in at least two of the following areas:
- Researching and developing new property/casualty insurance products.
- Developing property/casualty insurance programs, standards, and procedures.
- Pricing new/current property/casualty insurance products.
- Adjusting personal lines property/casualty claims.
- Underwriting property/casualty insurance products.
- Marketing or sales of property/casualty insurance products.
- Property/casualty insurance policy forms and language for major and specialty personal lines products.
- Regulations, policies and procedures of various state insurance regulatory agencies.
- ISO or similar rating bureau system.
- PC software applications.
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