Product Analyst

Plymouth Rock Assurance Corporation; Woodbridge Township (NJ); On-site; USD 70,000 - 88,000; Full time

Benefits offered by this job

Paid time off

Health insurance

401(k) employer contribution

Onsite gym

Professional development

Wellness program

Paid family leave

Tuition reimbursement

Job summary

Plymouth Rock Assurance Corporation in Woodbridge, NJ seeks a Product Analyst to support ideation and development of new product features, with emphasis on expanding our telematics program to improve pricing, competitive position and ease of doing business.

You will extract data for analysis and help implement new rating plans, underwriting rules, and process improvements to drive profitable growth for our personal lines in the Direct division.

Qualifications

• BA/BS degree in quantitative field is required.
• SQL or Visual Basic programming/query experience.
• Strong analytical and problem-solving skills.
• Excellent verbal and written communication.
• Collaborative yet able to work independently on high-volume tasks.

Responsibilities

• Act as a Product Management liaison with Underwriting, Customer Care, and Marketing.
• Create and maintain product comparisons with main competitors; analyze data and identify trends.
• Collaborate with third-party vendors to achieve company goals.
• Conduct cost-benefit analyses of underwriting changes.
• Understand policy rating, rate level indications, actuarial analysis, and underwriting models.
• Use data systems to analyze issues and report results to the Product Manager.
• Support data requests from other departments related to products and policy attributes.
• Collaborate with cross-functional teams to implement product and underwriting system changes.
• Performs other job-related duties as assigned.

Skills

Analytical problem solving

SQL

Visual Basic

Communication skills

Independent worker

Education

BA/BS in quantitative field

Job description

The Product Analyst supports the ideation and development of new product features, including emphasis on expanding and enhancing our telematics program, with goals of improving pricing, competitive position and ease of doing business for Plymouth Rock’s personal lines products sold in the assigned market(s) for the Direct division. This person extracts data for analysis and implementation of new rating plans, improvements in the telematics program, new underwriting rules, process improvements, and other initiatives to support profitable growth and improve competitive position.

RESPONSIBILITIES

• Acts as a Product Management liaison with Underwriting, Customer Care, and Marketing.
• Creates and maintains product comparisons with main competitors via rate manuals and other sources of competitive intelligence. Analyzes competitive data, identifies trends and seeks opportunities to differentiate.
• Collaborates with third party vendors to more effectively and cost-efficiently achieve our company goals.
• Conducts the cost-benefit analyses of changes and adjustments related to Underwriting.
• Works closely with others to gain strong understanding of insurance concepts and processes such as policy rating, rate level indications, actuarial analysis, and underwriting and pure premium models.
• Effectively uses available tools and data systems to analyze business issues with company data and reports. Communicates the results to the Product Manager.
• Supports data requests made by other departments related to products and policy attributes.
• Collaborates with Product Development, State Management, UW Operations & Analytics and Information Technology teams to facilitate product and underwriting systems changes.
• Performs other job-related duties as assigned.

QUALIFICATIONS

• Analytical problem solver with a high level of intellectual curiosity.
• Familiarity with database tools and concepts.
• Programming query experience (SQL or Visual Basic).
• Excellent verbal and written communication skills.
• Collaborative nature, but also has the ability to work independently and efficiently on a high volume of tasks.
• Demonstrated problem solving experience gained through related coursework and work experience.BA/BS degree in quantitative field of study.
• Property and Casualty Insurance experience preferred.

SALARY RANGE

The pay range for this position is $70,000to $88,000annually. Actual compensation will vary based on multiple factors, including employee knowledge and experience, role scope, business needs, geographical location, and internal equity.

PERKS & BENEFITS

• 4 weeks accrued paid time off + 8 paid national holidays per year, and 2 floating holidays
• Low cost and excellent coverage health insurance options that start on Day 1 (medical, dental, vision)
• Annual 401(k) Employer Contribution
• Free onsite gym and health center at our Woodbridge Location
• Resources to promote Professional Development (LinkedIn Learning and licensure assistance)
• Robust health and wellness program and fitness reimbursements
• Various Paid Family leave options including Paid Parental Leave
• Tuition Reimbursement

ABOUT THE COMPANY

The Plymouth Rock Company and its affiliated group of companies write and manage over $2 billion in personal and commercial auto and homeowner’s insurance throughout the Northeast and mid-Atlantic, where we have built an unparalleled reputation for service. We continuously invest in technology, our employees thrive in our empowering environment, and our customers are among the most loyal in the industry. The Plymouth Rock group of companies employs more than 1,900 people and is headquartered in Boston, Massachusetts.Plymouth Rock Assurance Corporation holds an A.M. Best rating of “A-/Excellent”.

Location(s)

581 Main Street, Woodbridge , New Jersey 07095 , United States

Plymouth Rock is committed to a policy ofnon-discrimination and equal opportunity for all qualified applicants andemployees without regard to race, color, religion, gender, sexual orientation,age, national origin, ancestry or disability.