Product Analyst

First Chicago Insurance Company; Chicago (IL); On-site; USD 70,000 - 100,000; Full time

Job summary

First Chicago Insurance Company is seeking a Forms & Product Analyst within the Product & Actuarial Analysis Department in Chicago. You will support the product team by collaborating on initiatives to design, revise forms, and implement new product features.

You'll work across departments to ensure regulatory filings, maintain forms repositories, and analyze market trends to drive compliant, profitable product enhancements.

Qualifications

• P&C insurance experience is preferred but not required.
• Excellent verbal and written communication skills.
• Proficiency in Microsoft Word and Excel.
• Strong attention to detail.
• Ability to adapt to changing priorities.
• Ability to work independently and drive results.

Responsibilities

• Plan, implement, manage, and/or contribute to projects up to a moderate complexity.
• Research, develop, and maintain coverage forms, endorsements, and manuals needed to support existing products.
• Review daily releases regarding changes to regulations and market alerts for potential impact to our products and initiate steps towards ensuring we take appropriate action.
• Contribute to and maintain department forms repository.
• Conduct research, perform basic market analysis and provide observations on target markets.
• Analyze competitor product features and contract languages.
• Work with various departments to create and develop forms upon introducing new products.
• Within department, assist in the creation of form and rule filings for submission to the departments of insurance to satisfy state regulatory requirements as well as creating objection responses for any subsequent objections.
• Serve as the subject matter expert for internal questions that arise regarding assigned enhancements and form filings.
• Work with IT to implement system changes and enhancements and verify changes were implemented correctly.
• Participate in evaluation of internal/external processes and procedures.
• Build strong relationships among team members, ensuring cooperation on project objectives.
• Responsible for special as hoc projects, analysis, and reporting.
• Report to the Associate Forms & Product Manager.

Skills

P&C Insurance experience

Attention to detail

MS Word

MS Excel

Project management

Time management

Independent worker

Communication skills

Tools

Microsoft Word

Microsoft Excel

Job description

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 Forms & Product Analyst, you will provide support to the Product team by collaborating in cross-functional teams that design, develop, and implement new product initiatives and revisions to existing products. In relation to product development and revision collaboration, the individual in this position will be primarily responsible for creating and maintaining policy forms.

DUTIES & RESPONSIBILITIES:

• Plan, implement, manage, and/or contribute to projects up to a moderate complexity
• Research, develop, and maintain coverage forms, endorsements, and manuals needed to support existing products
• Review daily releases regarding changes to regulations and market alerts for potential impact to our products and initiate steps towards ensuring we take appropriate action
• Contribute to and maintain department forms repository
• Conduct research, perform basic market analysis and provide observations on target markets
• Analyze competitor product features and contract languages
• Work with various departments to create and develop forms upon introducing new products
• Within department, assist in the creation of form and rule filings for submission to the departments of insurance to satisfy state regulatory requirements as well as creating objection responses for any subsequent objections
• Serve as the subject matter expert for internal questions that arise regarding assigned enhancements and form filings
• Work with IT to implement system changes and enhancements and verify changes were implemented correctly
• Participate in evaluation of internal/external processes and procedures
• Build strong relationships among team members, ensuring cooperation on project objectives
• Responsible for special as hoc projects, analysis, and reporting
• Report to the Associate Forms & Product Manager

Analyst will be involved with a wide variety of insurance products which may include Non-Standard Auto, Standard/Preferred Auto, Commercial Auto, Public Transportation, and Artisan General Liability.

QUALIFICATIONS REQUIRED:

• Previous P&C Insurance experience is preferred, but not required
• Excellent verbal and written communication skills
• Proficiency in Microsoft Word and Excel
• Strong attention to detail
• Ability to adapt to different or changing situations, requirements, or priorities
• Competent at proactively identifying and taking action to address present and future obstacles, issues, and opportunities
• Excellent quantitative, organizational, project management, decision making, problem-solving, and time management skills
• Ability to work independently, execute quickly, and drive results
• Must be able to work in U.S. without sponsorship

First Chicago Insurance Company provides a competitive benefits package to all full- time employees. Following are some of the perks First Chicago employees receive:

• Commitment to your Training & Development
• Medical, Dental and Vision Reimbursement
• Life Insurance
• Flexible Spending Account
• 401(k) with a generous company match
• Paid Time Off and Paid Holidays
• Tuition Reimbursement
• Wellness Program
• Fun company sponsored events
• And so much more!