Sr. Insurance Product Data Analyst

Virginia Farm Bureau Family of Companies; Virginia (MN); Hybrid; USD 70,000 - 90,000; Full time

Benefits offered by this job

Paid training and education reimbursement

Medical and dental insurance

Generous employee 401K contribution

Excellent Paid Time Off (PTO) plan

Job summary

A leading insurance provider is seeking a dedicated Sr. Insurance Product Data Analyst to enhance business results through effective data analysis. The candidate will focus on statutory reporting, reinsurance data support, and driving key performance indicators while collaborating with various stakeholders. A Bachelor's degree is required alongside a minimum of five years experience in Property & Casualty insurance analytics. The role offers a hybrid work model and an attractive benefits package including medical and dental insurance, and a 401K plan.

Qualifications

• Minimum of five years of Property & Casualty insurance experience in analytics or similar roles.
• Strong understanding of insurance definitions, KPIs, and rating plans.
• Ability to analyze complex data sets for informed business decisions.

Responsibilities

• Analyze and interpret statutory data for compliance and strategic decision-making.
• Develop and monitor KPIs to track business performance.
• Conduct competitive analysis to inform pricing strategies.

Skills

Data extraction and analysis

Financial analysis

Collaboration

Research and critical thinking

Strong communication skills

Education

Bachelor’s Degree in related fields

Tools

Excel (with VBA, VLOOKUPs)

SQL

Job description

This position is based out of our beautiful West Creek office location, 12580 West Creek Parkway, Richmond, VA 23238. Office hours: Monday-Friday 8:00am - 4:30pm, hybrid work schedule is offered, fully remote considered for well qualified candidates.

To Be Considered for this role, the candidate MUST reside in any of the following states: Virginia, North Carolina, Maryland, Pennsylvania, West Virginia, New York, Tennessee, Kentucky, New Hampshire or Florida

We are seeking a dedicated and insightful Sr. Insurance Product Data Analyst to join our Actuarial team. This role is pivotal in leveraging data analysis to drive business results, focusing on storytelling, curiosity, and intellectual prowess. The ideal candidate will have experience in property and casualty insurance data analysis and possess the grit necessary to excel in a dynamic, collaborative environment.

Within the Actuarial team at Virginia Farm Bureau, you will have the opportunity to regularly engage in unique and intellectually stimulating business problems and propose fact-based solutions with consideration of internal and external trends to achieve business objectives.

By collaborating with partners across the organization you will ensure strategic direction and alignment for successful execution. The Sr. Insurance Product Data Analyst is a highly motivated, creative self-thinker and is intellectually curious and eager to learn new skills and capabilities.

Primary Functions

• Statutory Reporting: Analyze and interpret statutory data to ensure compliance and support strategic decision-making.
• Reinsurance Data Calls & Support: Provide data-driven insights to support reinsurance functions and optimize data calls.
• Business KPIs: Develop and monitor key performance indicators to track business performance and inform strategic initiatives.
• AM Best Reporting: Prepare and analyze data for AM Best reporting, ensuring accuracy and compliance.
• Rate & Competitive Position Analysis: Conduct thorough competitive analysis using InsureQuote, SERFF filings, and AM Best resources to inform pricing strategies.
• Industry Analysis: Evaluate industry reports and investor presentations to provide actionable insights for strategic planning.
• Policy / Pricing Reviews: Analyze policy structures and pricing models to recommend improvements and optimize profitability and support to our agents/producers.
• County Strategy: Develop data-driven strategies to enhance market position and competitive edge at the county level.
• Cross-Collaboration: Work with stakeholders across the organization to understand their business reporting needs and translate them into actionable insights.

Skills And Qualifications

• Education: Bachelor’s Degree (Math, Statistics, Finance, Business, Actuarial Science, Business Analytics or similar preferred)
• Experience: A minimum of five years of Property & Casualty insurance industry experience in business and financial analytics, data sciences, or similar roles.
• Insurance Knowledge: Strong understanding of insurance definitions, KPIs, and rating plans.
• Data Extraction & Analysis: Ability to extract and analyze complex data sets to inform business decisions.
• Research & Critical Thinking: Demonstrated ability to conduct thorough research and apply critical thinking to solve complex business challenges.
• Financial Analysis: Proficiency in financial analysis to support business objectives and strategic initiatives.
• Collaboration: Effective collaboration with different departments and senior management to drive business success.
• Communication Skills: Strong verbal and written communication skills to convey complex information clearly and concisely.
• Organizational Skills: Ability to multitask and prioritize work assignments effectively with moderate guidance.

Required Technical Skills

• Intermediate proficiency in Excel, including VBA, VLOOKUPs, tables, charts, and graphs.
• Experience with SQL for data manipulation and analysis.
• Ability to learn new tools and concepts quickly in a dynamic environment.

Benefits

At Virginia Farm Bureau, we provide an exceptional benefits package, including ongoing job development and support in all roles, paid training and continuing education reimbursement, medical and dental insurance available on your first day, generous employee 401K contribution, excellent Paid Time off (PTO) plan and more!

If you are a curious, intellectually driven individual with a passion for using data to tell compelling stories and drive business results, we encourage you to apply for this exciting opportunity. Join us and contribute to shaping the future of our insurance business.

Virginia Farm Bureau Companies provide equal employment opportunities in all aspects of employment without regard to race, color, national origin, religion, gender, pregnancy, age, disability, orientation or veteran status.