Product Analyst II

First Chicago Insurance Company; Chicago (IL); On-site; USD 70,000 - 80,000; Full time

Benefits offered by this job

Competitive Salaries

Training & Development

Medical and Dental

Telemedicine Benefit

401k with a generous company match

Paid Time Off and Paid Holidays

Tuition Reimbursement Training

Wellness Program

Company sponsored events

Job summary

First Chicago Insurance Company seeks a Product Analyst II to support the Product Manager by collaborating on new product initiatives and maintaining key departmental reports. The role includes analyzing insurance products, developing rate/form filings for regulatory reviews, and delivering regular monthly and quarterly reports while partnering with IT and other departments.

Ideal candidates will have 3–5 years of product experience in Property & Casualty, strong Excel/Word skills, and the

Qualifications

• Bachelor's degree required.
• 3–5 years of product experience with Property & Casualty insurance.
• Experience in automobile lines of business (Personal preferred, Commercial a plus).
• Strong written and verbal communication.
• Excellent organizational and time-management skills.
• Ability to work independently and drive results.

Responsibilities

• Individually plan, implement, manage, and/or contribute to projects up to high complexity.
• Conduct research, perform basic trend analysis, and provide observations on target markets.
• Analyze competitor product rates, rules, and forms language with minimal support.
• Research, develop and maintain coverage forms, endorsements and manuals needed to support existing products.
• Work with IT to implement system changes and enhancements.
• Independently create and distribute a variety of monthly and quarterly reports in a timely fashion.

Skills

Analytical thinking

Written communication

Verbal communication

Project management

Time management

Education

Bachelor's degree

Tools

Microsoft Excel

Microsoft Word

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 Product Analyst II, you will provide support to the Product Manager by collaborating in cross-functional teams that design, develop, and implement new product initiatives. In addition to product development collaboration, the individual in this position is responsible for creating and maintaining several key reports produced by the Product & Actuarial Analysis Department. The analyst is also responsible for providing medium to high complexity analytical and competitive research.

The ideal candidate is an experienced product analyst with an understanding of insurance products and forms.

Duties & Responsibilities

• Individually plan, implement, manage, and/or contribute to projects up to high complexity


• Conduct research, perform basic trend analysis, and provide observations on target markets


• Analyze competitor product rates, rules, and forms language with minimal support


• Research, develop and maintain coverage forms, endorsements and manuals needed to support existing products


• Work with various departments to develop forms upon introducing new products


• Within department, assist in the creation of rate, rule, and form filings for submission to department of insurance to satisfy state regulatory requirements


• Independently create and submit regulatory filings


• Responsible for creating objection responses to regulatory form and basic rate/rule filings


• Serve as the subject matter expert for internal questions that arise with regard to assigned enhancements and form filings


• Work with IT to implement system changes and enhancements


• Independently create and distribute a variety of monthly and quarterly reports in a timely fashion


• Individually responsible for special and ad hoc projects, analysis, and reporting


• Build strong relationships among team members, ensuring cooperation on project objectives


• Report to the Product Manager

Analyst will be involved with wide variety of insurance products which may include: Non-Standard Auto, Commercial Auto, General Liability, Workers' Compensation, and Ancillary Individual Health.

Qualifications

• Bachelor's degree


• A minimum of 3 to 5 years of product experience with Property & Casualty insurance products


• Experience in automobile lines of business (Primarily Personal. Commercial, a plus)


• Independent analytical thinker with excellent written and verbal communication skills


• Ability to fill all roles of a successful team


• Good organizational, project management and time management skills


• Strong attention to detail


• Ability to work independently, execute quickly, and drive results


• Ability to adapt to different or changing situations, requirements, or priorities


• Proactively identifies and takes action to address present and future obstacles, issues, and opportunities


• Proficient in Microsoft Excel and Word

Benefits

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

• Competitive Salaries


• Commitment to your Training & Development


• Medical and Dental


• Telemedicine Benefit


• 401k with a generous company match


• Paid Time Off and Paid Holidays


• Tuition Reimbursement Training Programs


• Wellness Program


• Fun company sponsored events


• And so much more!

Estimated Compensation Range: $70,000 - $80,000

• Published ranges are estimates. Offered compensation will be based on experience, skills, education, certifications, and geographic location.