Analyst, Product Rating

Travelers; Hartford (CT); On-site; USD 70,000 - 116,000; Full time

Benefits offered by this job

Health Insurance

401(k) match

Paid Time Off

Wellness program

Job summary

Travelers in Hartford, CT is seeking a Product Rating Analyst to collaborate with business units across personal and commercial insurance on rate design and pricing objectives. You will analyze requirements, update rating structures, and ensure filings comply with regulatory standards while delivering quality results.

The role emphasizes working with actuarial and IT teams to build rate pages, perform testing, and improve pricing strategies.

Qualifications

• Bachelor's degree in computer science or related field.
• 2+ years of programming, development, product, or rating experience.
• Familiarity with personal or commercial property casualty insurance products.
• Strong communication and analytical skills.
• Ability to organize work and meet deadlines.

Responsibilities

• Conduct thorough analysis of business requirements and rate filings.
• Design and implement rate structure changes and rate pages.
• Determine testing scope and validate modifications for regulatory compliance.
• Ensure accuracy of product configuration rules and rating tables.
• Collaborate with actuarial and other partners on rating development.

Skills

Programming experience

Relational databases

Rating engines

Communication skills

Critical thinking

Organization

Education

Bachelor's degree

Tools

Rating engines

SQL

Job description

Who Are We?

Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 170 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Job Category

• Product

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range: $70,400.00 - $116,200.00

Target Openings

1

What Is the Opportunity?

The Product Rating team collaborates with business units across personal or commercial insurance on all variables associated with premiums to achieve financial and strategic objectives at the national and the state/province level. The responsibilities of the team include leveraging and maintaining business-controlled rating engine/technologies, designing and implementing rate structures, updating product configuration rules, ensuring adherence of rating practices to regulatory and filing requirements, and resolving issues that may arise. As an Analyst, Product Rating you will contribute to the comprehensive examinations of business requirements and rate structure changes through knowledge of current industry trends and techniques. You will also deliver outcomes that meet or exceed established quality standards, punctuality to deadlines and enhance customer satisfaction and operational efficiency.

What Will You Do?

• Conduct thorough analysis and contribute to business requirements, including rate filings and related documentation to ensure alignment with strategic objectives and regulatory standards.
• Design and implement less complex rate structure changes and build rate pages for rate manuals.
• Determine testing scope, perform unit testing, and validate modifications to adhere to best practices and business unit filing and regulatory requirements. Assist in the triage and resolve issues that arise during subsequent testing phases.
• Ensure optimal functionality and accuracy of product configuration rules, rate factors within existing rating tables, and other business owned rating technologies.
• Develop effective relationships with business partners such as actuarial to provide insightful consultation on the development of rating business and worksheet requirements.
• Identify the root cause of rating discrepancies and perform analysis to rectify the issue.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Bachelor's degree in a related field.
• Two or more years of programming and configuration, development, product, actuarial, regulatory or rating experience.
• Familiarity of personal or commercial property casualty insurance products.
• Working knowledge of relational databases, rating engines, programming languages and/or the methodologies used in assessing risk and determining pricing strategies.
• Verbal and written communication skills to effectively collaborate with and influence agents and consumers.
• Critical thinking and analysis skills to address rating challenges and develop solutions.
• Organization and time management skills to prioritize workload and ensure timely completion of assignments.
• Ability to identify opportunities for improvement and contribute creative ideas or solutions.

What is a Must Have?

• Bachelor's degree in computer science or a related field, or equivalent combination of education and work experience.
• One or more years of programming, development, product, or rating experience.

What Is in It for You?

• Health Insurance : Employees and their eligible family members - including spouses, domestic partners, and children - are eligible for coverage from the first day of employment.
• Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
• Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
• Wellness Program: The Travelers wellness program is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program pro