What are the responsibilities and job description for the Product Analyst position at First Chicago Insurance Company (FCIC)?
The Product & Actuarial Analysis Department designs, develops and launches new products and product enhancements that drive profitable growth, improve product efficiencies, and delivers return on investment through our distribution channels.
As a Product Analyst, you will provide support to the Product Manager by collaborating in cross-functional teams that design, develop, and implement new product initiatives. In addition to product development collaboration, the individual in this position is responsible for creating and maintaining several key reports produced by the Product & Actuarial Analysis Department. The analyst is also responsible for providing medium to high complexity analytical and competitive research.
The ideal candidate is an experienced Product Analyst with an understanding of insurance products and forms.
DUTIES & RESPONSIBILITIES:
- Plan, implement, manage, and/or contribute to projects up to high complexity
- Conduct research, perform basic trend analysis, and provide observations on target markets
- Analyze competitor product rates, rules, and forms language
- Research, develop and maintain coverage forms, endorsements and manuals needed to support existing products
- Work with various departments to develop forms upon introducing new products
- Within department, assist in the creation of rate, rule, and form filings for submission to department of insurance to satisfy state regulatory requirements
- Independently create and submit regulatory filings
- Responsible for creating objection responses to regulatory form and basic rate/rule filings
- Serve as the subject matter expert for internal questions that arise with regard to assigned enhancements and form filings
- Work with IT to implement system changes and enhancements
- Independently create and distribute a variety of monthly and quarterly reports in a timely fashion
- Responsible for special and ad hoc projects, analysis, and reporting
- Build strong relationships among team members, ensuring cooperation on project objectives
- Report to the Product Manager
Analyst will be involved with wide variety of insurance products which may include: Non-Standard Auto, Commercial Auto, General Liability, Workers' Compensation, and Ancillary Individual Health.
QUALIFICATIONS:
- Bachelor's degree
- A minimum of 3 to 5 years of product experience with Property & Casualty insurance products
- Experience in Automobile lines of business
- Independent analytical thinker with excellent written and verbal communication skills
- Ability to fill all roles of a successful team
- Good organizational, project management and time management skills
- Strong attention to detail
- Ability to work independently, execute quickly, and drive results
- Ability to adapt to different or changing situations, requirements, or priorities
- Proactively identifies and takes action to address present and future obstacles, issues, and opportunities
- Proficient in Microsoft Excel and Word