Insurance Policy and Rate Analyst 2

State-of-West-Virgini; West Virginia; On-site; USD 55,000 - 75,000; Full time

Benefits offered by this job

Holidays

Leave Accrual

Health Insurance

Life Insurance

Retirement Plan

Job summary

State-of-West-Virgini is seeking an analyst in Charleston, WV to review and analyze insurance rate and form filings across multiple lines, ensuring compliance with WV Code and regulations. You will correspond with insurers and industry professionals to articulate filing dispositions and contribute to market analysis.

The role involves preparing reports, attending training, and supporting colleagues while working toward NAIC designations.

Qualifications

• Bachelor's degree from regionally accredited college or university (as described).
• Experience with filing reviews and regulatory analysis preferred.
• Strong communication with insurers and industry professionals.
• Ability to prepare insurance market and filing analysis reports.

Responsibilities

• Review rate and form filings across multiple insurance lines.
• Ensure filings comply with WV Code, Regulations and Guidelines.
• Correspond with insurance company representatives and industry professionals.
• Prepare internal and external reports on insurance market and filings.
• Assist other analysts and pursue NAIC designation programs as assigned.

Skills

Insurance filings analysis

Regulatory compliance

Data analysis

Stakeholder communication

Education

Bachelor's degree

Tools

SERFF

NAIC I-site

Job description

Nature of Work:

Position No.: 0704P00193

Posting No.: INS27004

Division: Executive

Office Location: 900 Pennsylvania Avenue, Charleston, WV 25302

***This job opportunity is not in the classified service and is not covered by the West Virginia Division of Personnel merit system***

• The review of insurance company rate, rules, and form filings. These filings consist of multiple types of insurance including homeowners, automobile, workers compensation, medical malpractice, commercial property and liability, health, life, annuities, etc.
• Responsible for the review of form and rate filings in compliance with the WV Code, Regulations, and Guidelines. The analyst will correspond with insurance companies in a professional manner regarding the analysis of their filings. Once the filing review is complete, the analyst will render a disposition of the filing.
• Correspond with insurance company representatives, rating organizations, and other industry professionals on a number of insurance matters such as the state of WV insurance market, WV Code, rules, regulations, guidelines; the proper way to create and code a filing; and the information required to be in a filing in order to conduct a thorough review.
• Analyze and prepare reports for internal and external use. The reports primarily consist of insurance market and filing analysis. Information is obtained from the filings, SERFF, and NAIC I-site system and current legislation.
• Attend agency training and filing reviews. Assist other analysts within other divisions of the OIC with their filings and their interpretation of the WV Code, Rules and Regulations, as needed. Work toward the completion of NAIC Designation Programs: APIR and PIR, as well as attending NAIC conference calls and sub-groups as assigned.

Training: Bachelor's degree from a regionally accredited college or university.

Substitution: Designation as a Chartered Life Underwriter (CLU), Chartered Property and Casualty Underwriter (CPCU), Chartered Financial Consultant (CHFC) or Fellow of the Life Management Institute (FLMI).
OR
Experience as described below may be substituted for the required training on a year-for-year basis.

Experience: Three (3) years of full-time or equivalent part-time paid employment as an insurance agent, broker, policy examiner, rate analyst, adjuster or investigator with an insurance company or governmental insurance regulatory agency in the areas of life, property and casualty or accident and health or in a technical capacity in an insurance regulatory agency or experience in a mathematical, statistical or actuarial field.

Come join our team!

We believe our employees deserve the best to make sure they have a great work-life balance. The WV Offices of the Insurance Commissioner offers a great benefit package that includes:

• Holidays - Minimum of 12 paid holidays
• Leave Accrual - Ample Annual (starting at 4.61 hours a pay period) and Sick Leave (5.55) hours a pay period) Accrual
• Medical Insurance - Insurance through Public Employees Insurance Agency (PEIA) with several plan options and Flexible Benefits through Mountaineer Flex Benefits to cover additional needs
• Life Insurance - Free $10,000 Basic Life Insurance and additional life insurance offered at a low cost to you
• Retirement - Mandatory retirement where the employee contributes a portion of their annual salary and the employer also contributes, in addition to an optional 457 deferred compensation retirement plan