Product Analyst, Commercial Insurance

MGT Insurance; Madison (WI); On-site; USD 80,000 - 150,000; Full time

Job summary

MGT Insurance in Madison, Wisconsin is seeking a Product Analyst to support product development, pricing, and analytics for commercial insurance products. This is an early-career opportunity ideal for candidates with strong analytical skills and excitement to learn in the insurance space.

Responsibilities include assisting in product development, conducting data analysis, and collaborating with cross-functional teams. A Bachelor's degree and experience in analytics are required, with a competitive salary range of $80,000 to $150,000 depending on experience.

Qualifications

• 3+ years of experience in the insurance industry.
• Experience in pricing, analytics, modeling, or quantitative problem solving.
• Hands-on experience with SQL, Python, R, SAS or similar tools.

Responsibilities

• Assist in developing commercial insurance products.
• Conduct data analysis to support pricing and product design.
• Support market research and competitive analysis.

Skills

Analytical skills

SQL

Python

R

Power BI

Education

Bachelor’s degree in Business, Math, Statistics, Economics, or similar

Tools

SAS

AI tools

Job description

The Product Analyst, Commercial Insurance supports the Sr. Commercial Product Leader across all product development, pricing, research, and filing activities. This role is ideal for an early‑career insurance professional with strong analytical and technical skills who is excited to learn, innovate, and contribute to building modern commercial insurance products.

Key Responsibilities

Product Development Support

• Assist in developing and enhancing commercial P&C products across multiple lines of business.
• Support the Sr. Commercial Product Leader in drafting product requirements, preparing product documentation, and coordinating cross‑functional workstreams.
• Participate in the research, planning, and evaluation of new product initiatives.

Analytics & Pricing

• Conduct data analysis to support pricing, product design, risk segmentation, and rate adequacy.
• Build and maintain analytical models using SQL, Python, R, SAS, or other statistical tools.
• Assist in monitoring product performance, including loss trends, underwriting patterns, and competitive benchmarks.
• Support the development of rating structures and pricing models for new and existing products.

Regulatory Filing Support

• Assist with state filing activities, including preparing components of filings, compiling exhibits, and supporting responses to regulator questions.
• Help maintain organized documentation and filing artifacts for tracking and compliance.

Market Research & Competitive Analysis

• Conduct research on competitor forms, rates, rules, and market trends to inform product decisions.
• Support competitive analysis that informs coverage design, pricing, and product positioning.

Cross‑Functional Collaboration

• Work closely with underwriting, actuarial, claims, compliance, and engineering teams to support product implementation and updates.
• Assist with product testing and validation during system implementations or upgrades.
• Work on projects and initiatives supporting the Sr. Commercial Product Leader across product strategy, enhancement, and modernization efforts.

Additional Responsibilities

• Help create dashboards, reports, and insights using tools such as Power BI or other visualization platforms.
• Support documentation, training materials, and product communications.
• Contribute to automation and workflow improvements using AI tools, including OpenAI platforms (a plus).

Qualifications

Experience

• 3+ years of experience in the insurance industry, including roles in underwriting, claims, product, actuarial support, or data analytics.
• Experience working in an analytical capacity preferred (pricing, analytics, modeling, or quantitative problem solving).
• Hands‑on experience with SQL, Python, R, SAS, or similar tools.
• Experience with visualization tools (Power BI preferred).
• Experience with insurance product management or product development processes is a plus.
• Experience working with AI tools (including OpenAI platforms) is a bonus.

Education

• Bachelor’s degree required, ideally in Business, Math, Statistics, Economics, Finance, Insurance, Data Science, Actuarial Science, or related fields.
• Master’s degree is a plus.
• Insurance certifications (CPCU, AINS, ARM, etc.) are a plus.

Knowledge & Skills

• Strong analytical and quantitative skills; ability to manipulate and interpret data.
• Curiosity and a desire to learn commercial insurance product development.
• Excellent problem‑solving skills with attention to detail.
• Effective communication skills, both written and verbal.
• Ability to manage multiple tasks and deadlines in a dynamic, fast‑paced environment.
• Basic understanding of commercial P&C insurance products, coverage concepts, or rating principles preferred.

Compensation

The base salary range for this role is $80,000 – $150,000, depending on experience and location, with eligibility for bonus, equity, and a competitive benefits package. This range reflects leveling for both Product Analyst and Senior Product Analyst; the appropriate level will be determined through the interview process.

Equal Employment Opportunity Statement

MGT is proud to be an Equal Opportunity Employer. We do not discriminate in employment opportunities or practices based on race, color, religion, gender, gender identity or expression, sexual orientation, national origin, age, disability, genetic information, marital status, military or veteran status, or any other status protected by applicable law.

All employment decisions are based on qualifications, merit, and business needs. We are committed to providing reasonable accommodations for qualified individuals with disabilities throughout the application and employment process. If you need assistance or accommodations, please contact us at [e-mail].

This job description is intended to outline the general nature and level of work performed by employees in this role. It is not an exhaustive list of all responsibilities, duties, or qualifications required. MGT Insurance reserves the right to modify, interpret, or apply this job description in any way the company deems appropriate.