Insurance Product Analyst-Businessowners Policy

Pharmacists Mutual Insurance Company; Des Moines (IA); Hybrid; USD 93,000 - 105,000; Full time

Job summary

Pharmacists Mutual Insurance is seeking an Insurance Product Analyst to oversee product enhancements, analyze coverage forms, and collaborate with multiple departments to ensure compliance. This mid-senior level position requires strong analytical skills, relevant experience in the insurance industry, and the ability to manage projects effectively. Employees may enjoy a competitive salary along with comprehensive benefits.

Benefits

Health, Dental, Vision & Life coverage

401(k) with Company Match

Paid Time Off

8 Paid Holidays

Tuition Reimbursement

Hybrid/Remote Work Options

Qualifications

• 5 years of related experience for Product Analyst II or 8 years for Senior Product Analyst.
• Certifications like Chartered Property Casualty Underwriter (CPCU) are a plus.
• Strong knowledge of PMIC products and pricing.

Responsibilities

• Analyze policy/coverage form, rate and rule revisions.
• Develop new products and assist with complex analytical projects.
• Prepare presentations for Executive Management.

Skills

Analytical skills

Communication

Customer service

Project management

Education

Bachelor’s Degree

Associate’s Degree

Master’s Degree

Job description

Insurance Product Analyst-Businessowners Policy

Join to apply for the Insurance Product Analyst-Businessowners Policy role at Pharmacists Mutual Insurance Company

Insurance Product Analyst-Businessowners Policy

5 days ago Be among the first 25 applicants

Join to apply for the Insurance Product Analyst-Businessowners Policy role at Pharmacists Mutual Insurance Company

Get AI-powered advice on this job and more exclusive features.

Description

Pharmacists Mutual Insurance has an opening for a Product Analyst. This role will analyze policy/coverage form, rate and rule revisions in support of Company strategic initiatives. Initiates internal reviews to monitor profitability and competition. Assists with the development of new products and product enhancements, expansion of existing businesses, or special products. Partners with Underwriting, Distribution and Member Support, Legal, Compliance, Marketing, Claims and Finance to assure product modifications meet requirements of those departments. Assists business units with complex analytical projects, and identifies and addresses key business issues. Prepares presentations for Executive Management of alternative and recommended product changes. Initiates Company implementation of required and selected revisions.

Description

Pharmacists Mutual Insurance has an opening for a Product Analyst. This role will analyze policy/coverage form, rate and rule revisions in support of Company strategic initiatives. Initiates internal reviews to monitor profitability and competition. Assists with the development of new products and product enhancements, expansion of existing businesses, or special products. Partners with Underwriting, Distribution and Member Support, Legal, Compliance, Marketing, Claims and Finance to assure product modifications meet requirements of those departments. Assists business units with complex analytical projects, and identifies and addresses key business issues. Prepares presentations for Executive Management of alternative and recommended product changes. Initiates Company implementation of required and selected revisions.

Product Analyst II

• Responsible for moderately complex ratemaking and/or product duties.
• Manages small, medium, and large sized projects and initiatives with minimal direction and assistance.
• Trains others on product development programs.
  
  

Senior Product Analyst

• Demonstrates a history of high-quality work and high level of product and/or rate knowledge.
• Responsible for moderately complex ratemaking and/or product duties.
• Manages medium to large sized projects and initiatives independently.
• Serves as lead trainer and mentor for others on product development programs.
  
  

Essential Functions

Essential functions may include, but are not limited to the following:

• Reviews advisory organization filings and assesses impact on PMIG.
• Researches industry trends, competitor products and pricing, niche markets, insurance regulations and statutes.
• Demonstrates a working understanding of rate adequacy analysis and/or policy coverage.
• Develops advisory organization form, rate and rule change analyses for presentation to Executive Management.
• Develops Company proprietary form, rate and rule revisions.
• Demonstrates a working knowledge of data extraction, manipulation and analysis.
• Submits complete and accurate filings to state Departments of Insurance with minimal objections.
• Coordinates with IT to develop specifications to implement form, rate and rule projects.
• Monitors and assists in testing policy processing system revisions.
• Assists in developing and presenting revision training to internal users.
• Monitors effects of pricing revisions implemented.
  
  

Knowledge, Skills And Abilities

• Knowledge of PMIC products and pricing.
• Understand principles and practices of insurance underwriting.
• Interpret premium algorithms and coverage nuances.
• General understanding of insurance accounting and Company financial statements.
• Communicate effectively with others (oral and written).
• Analyze complex issues and make critical decisions.
• Maintain records, prepare reports and conduct correspondence related to the work.
• Interpret and apply laws, rules and regulations, as well as complex policy and contract coverage.
• Obtain and use sensitive information discreetly and objectively, both internal and external.
• Determine when to escalate concerns to the appropriate level of management.
• Follow oral and written directions.
• Correct English usage, spelling, grammar, vocabulary and punctuation.
• Work effectively with others in a team environment.
• Contribute effectively to the accomplishment of team or work unit goals, objectives and activities.
• Establish and maintain effective working relationships with those contacted in the course of work.
• Excellent customer service skills.
• Ability to organize and prioritize work.
• Work independently and demonstrate drive and initiative.
• Ability to handle multiple tasks at once.
• Meet definite deadlines and deal with pressure situations.
• Collect, interpret, and input data efficiently and accurately.
• Use computer and related software effectively.
  
  

Qualifications

Experience and Education Qualifications

Product Analyst II

• Associate’s Degree or equivalent and 5 years of related experience; or
• Bachelor’s Degree and 3 years of related experience; or
• Master’s Degree
  
  

Senior Product Analyst

• Associate’s Degree or equivalent and 8 years of related experience; and
• The following industry related certifications or similar: Chartered Property Casualty Underwriter (CPCU)
  
  

OR

• Bachelor’s Degree and 5 years of related experience; or
• Master’s Degree and 2 years of related experience
  
  

Work Environment

• Primary work environment is in a climate-controlled office setting
• Work may involve travel to attend meetings at other locations
  
  

Benefits

In addition to a competitive salary, eligible employees may receive an annual discretionary bonus and access to our benefits package including:

• Health, Dental, Vision & Life coverage
• 401(k) with Company Match
• Paid Time Off
• 8 Paid Holidays
• Volunteer Time Off
• Paid Parental Leave
• Hybrid/Remote Work Options
• Employee Assistance Program
• Tuition Reimbursement
  
  

Pharmacists Mutual Insurance Group is an Equal Opportunity Employer.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Research, Analyst, and Information Technology

• Industries

  Insurance

Referrals increase your chances of interviewing at Pharmacists Mutual Insurance Company by 2x

Get notified about new Product Analyst jobs in Des Moines, IA.

Des Moines, IA $93,000.00-$105,000.00 6 days ago

Business Analyst / Technical Business Analyst PERM FTE

Des Moines, IA $85,000.00-$105,000.00 2 weeks ago

Business Analyst | Remote | Must Reside in Iowa

Des Moines, IA $85,000.00-$105,000.00 1 week ago

Manager, Actuarial Analyst - Life Product Implementation

Des Moines, IA $100,800.00-$182,400.00 6 days ago

We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.