Senior Product Development Analyst (P&C Insurance)

PURE Insurance; Chicago (IL); On-site; USD 70,000 - 85,000; Full time

Job summary

PURE Insurance is looking for a Senior Product Development Analyst to join the team in Chicago, IL. This role supports strategic product innovation and management, focusing on creating and enhancing a product suite that meets evolving member needs.

The ideal candidate will have over 3 years of experience in P&C insurance, a relevant Bachelor's degree, strong analytical skills, and excellent communication abilities. The position offers a competitive salary ranging from $70,000 to $85,000.

Qualifications

• 3+ years of relevant P&C insurance experience, preferably in high-net-worth insurance.
• Bachelor's degree in Economics, Finance, Actuarial Science, Math, Statistics, or Risk Management required.
• Emerging knowledge of the P&C industry and insurance product pricing.

Responsibilities

• Contribute to product development for assigned products.
• Execute design and implementation of product features.
• Conduct research to identify trends and member needs.

Skills

P&C insurance experience

Analytical skills

Communication skills

Relationship building

Time management

Education

Bachelor's degree in a relevant field

Job description

About the Role

The Senior Product Development Analyst will support key initiatives that contribute to strategic product innovation, development, and management for a product or group of products and will be based out of our Chicago, IL office. This important role will focus on creating, enhancing and maintaining a product or set of product features that meets evolving members’ needs, expands profitable growth and ensures continued market relevance.

What You'll Do

• Contribute to the product development for all assigned products
• Execute the detailed design and implementation of straightforward product features associated with new or enhanced products
• Assist in the identification, exploration, and nurturing of new and existing strategic partnerships to offer a more robust suite of products
• Conduct internal and external research to identify emerging trends, member needs and review competitor offerings to inform product innovation
• Begin to participate in cross-functional collaboration with Underwriting, Claims, Marketing, Sales and all other stakeholders to successfully and efficiently design and develop enhancements to the product suite
• Support the collaboration with the Actuarial Pricing, Data & Analytics, and State Product Management departments in the development of different models using internal and external data to inform product pricing and risk selection decisions
• Support with some guidance the design build and delivery with Technology, including drafting system requirements and completing user acceptance testing to ensure new and revised product builds, features and tools are delivered as designed with high level of quality
• Understand the importance of and consider in the product design both the member and broker experiences across any touchpoint
• Assist in the training and education of newer analysts

What You'll Need

• 3+ years of relevant P&C insurance experience, preferably in the high-net-worth insurance
• Bachelor's degree required, preferably in an analytical field of study including but not limited to Economics, Finance, Actuarial Science, Math, Statistics, Risk Management
• Emerging knowledge of the P&C industry, competitors, insurance product pricing, financial drivers of profitability; comprehensive understanding of legislative and insurance regulations
• Strong critical and analytical thinking, quantitative and problem-solving skills with the ability to make data-based decisions
• Experience using software to organize and analyze data to support decision-making
• High degree of personal organization, time management skills, and attention to detail
• Well-developed oral and written communication skills; comfortable speaking in front of large and small groups
• Strong relationship building, collaboration, and influencing skills
• Demonstrated level of curiosity and a growth mindset
• Highest level of integrity and honesty

Base Salary

The base salary for this role can range from $70,000 to $85,000 based on a full-time work schedule. An individual’s ultimate compensation will vary depending on job-related skills and experience, geographic location, alignment with market data, and equity among other team members with comparable experience.