The Product Analyst position shares workload with the Product Manager in creating, enhancing and implementing product initiatives. Product Analysts are responsible for monitoring, analyzing and assisting in the development and revision of Bankers’ P & C insurance products. Product analysts are important members of a Product Management Team, providing other members with information on the business and market requirements for a product. A product analyst's work plays a role in the beginning, middle and end stages of a product's development and life cycle.
Obtaining, and analyzing, information for all relevant sources. Maintaining current information on key competitors, and prepares regular analysis and recommendations regarding forms, rates, and rules. Uses sound judgment to plan, prioritize and schedule efforts.
Reviewing and monitoring rate filings to identify changes in competitors’ rate plans, rate level and rating structure.
Prepare rate comparisons for segments/states/new programs.
Working with the Product Manager to create IT documentation of business rules as these impact system development. Provides technical input and support for the development and implementation of product revisions, price setting and state rate/rule/coverage form filings.
Proactively communicating with Management, Peers and others; important competitive information, knowledge, and makes interpretation of strategic implications as it is gathered and analyzed.
Developing and conducting training relating to product implementation and program changes.
Gathers, analyzes, and maintains current information on key competitors, and prepares regular analyses of competitors’ forms, rates, and rules. Also, monitors competitor filings for rate/rule/form action.
Identifies trends and makes recommendations to Product Manager. Analyzes product, pricing and marketing decisions to identify opportunities.
Assists the Product Manager in the development of policy forms, manual rules, coverage analysis and the tracking of new and existing state statutes and regulations that may impact the insurance products.
Works with the Product Manager and key stakeholders to define scope, costs and timelines for updating existing products and implementing new products. Interacts with key stakeholders with respect to product features and product development strategy as well as shared initiatives, shared compliance issues, and Marketing and IT support needs.
Builds competitive batch raters and keeps them updated. Performs rate analysis using competitor batch raters.
Proactively communicates important competitive information and knowledge, and makes interpretations of the strategic implications as it is gathered and analyzed.
Works with IT to ensure that the delivered system is properly tested and meets the product requirements.
Works with the Product Manager, Sales and Corp Marketing in promoting products to improve sales and revenue. Identifies product marketing ideas and opportunities based on industry trends, current market environment and competitive trends.
Provides both internal and external training on product changes and new products.
Physical attendance is required at worksite
No more than 5% travel anticipated.
Required Education and Experience
Bachelor’s (BS) degree and/or Associates Degree required, or relevant and equivalent work experience in lieu of formal education, advanced excel knowledge is required.
The preceding position description has been designed to indicate the general nature of the work performed; the level of knowledge and skills typically required; and usual working conditions of this position. It is not designed to contain, or be interpreted as a comprehensive, complete or exclusive list of the duties of the position. Additional and different duties may be assigned from time to time. We are an E-Verify company.