Small Business State Product Management Analyst

Westfield-Insurance; Westfield Center (OH); Hybrid; USD 85,000 - 110,000; Full time

Job summary

Westfield-Insurance is seeking a Small Business State Product Management Analyst to support growth and profitability for assigned states and/or product lines.

You will analyze internal and external trends and propose data-driven recommendations to influence key performance metrics, while collaborating with underwriting, sales, actuarial, marketing, and other teams to ensure profitability, compliance and customer satisfaction.

Qualifications

• 3–5 years of experience in Product Research, Insurance industry or related field.
• Bachelor’s degree or equivalent work experience in a relevant field.

Responsibilities

• Independently conduct and understand data analysis of business results to assess profitability and growth opportunities and identify root cause.
• Formulate and execute recommendations to drive growth and profitability based on strategy and local regulations.
• Present and influence product and pricing recommendations with underwriting and sales.
• Collaborate with Actuarial, Underwriting, and Sales during rate reviews to align pricing with market strategies.
• Develop forecasts and rigorously analyze product performance against plans.

Skills

Data analysis

Market research

Product analytics

Cross-functional collaboration

Education

Bachelor's degree in market research, statistics, data science, business, or related field

Job description

Job Summary

TheSmall Business State Product Management Analyst will be accountable in supporting the growth and profitability for assigned states and/or insurance product lines(s). The role will analyze internal and external trends to propose data-driven recommendations to influence key performance metrics. The analyst collaborates closely with underwriting, sales, actuarial, marketing, and other cross-functional departments to ensure products meet profitability, compliance, and customer satisfaction goals.

Applicants must be currently authorized to work in the United States on a full-time basis without employer sponsorship.

Job Responsibilities

• Independently conduct and understand data analysis of business results to assess profitability and growth opportunitiesand identify root cause.
• Formulate and execute potential recommendations to drive desired growth & profitability impacts based on established strategy with consideration for local regulatory nuances, and broader marketplace dynamics.
• Present, inform and influence product and pricing recommendations to business partners including underwriting and sales.
• Collaborate with Actuarial, Underwriting, and Sales during rate review process to align rate and pricing with Countrywide and local market profit and growth strategies.
• May function as a subject matter expert in strategic initiatives to support the goals and objectives of the broader organization.
• Develops top and bottom-line forecasts and rigorously analyzes and evaluates product performance metrics against those plans to identify divergence from expectations. Recommends actions based on actual results and builds contingency plans.
• Monitor effectiveness of business initiatives and strategies, impacts to rate and pricing changes, book mix changes, and any outliers in trends; then provide recommendations on potential course of actions.
• Demonstrates excellent problem-solving abilities, in a practical way, to balance between addressing root cause and introducing changes in fast order.
• Acquires market and competitive intelligence and develops knowledge of emerging trends to effectively compete in a rapidly changing environment and shares knowledge with the organization.
• Develops a deep understanding of the regulatory and statutory environments for assigned states and/or lines of business. Ensures product decisions and processes are in alignment with company policies and meet all legal and regulatory requirements.

Job Qualifications

• 3-5 years of experience in Product Research, Insurance industry or a related field.
• Bachelor's degree in market research, statistics, data science, business, or a related field and/or commensurate work experience.

Location

• Hybrid- defined as working three or more days per week in the office if the employee's residence is within 50 miles of Westfield Center, OH; OR Remote-if the employee resides more than 50 miles from Westfield Center, OH.

Behavioral Competencies

• Certified Market Research Professional (CMRP)
• Collaborates
• Customer focus
• Communicates effectively
• Decision quality
• Nimble learning
• Certified Analytics Professional (CAP)

Technical Skills

• Business Requirement Gathering
• Technical Documentation
• Data Reporting and Analysis
• Product Development Lifecycle
• Business Analysis
• New Product Development
• Market Research
• Product Analytics

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.