Sr Product Development Analyst

Overview

This role involves monitoring and analyzing product performance within Commercial Lines Insurance, providing strategic recommendations and solution insights to divisional and departmental leadership. The position focuses on managing the technical aspects of product development, including creating new or enhanced insurance products to improve the Commercial line of business. Key areas include leveraging contract language, underwriting rules and guidelines, system/platform capabilities, automation, and pricing/predictive analytics.

Responsibilities

• Monitor and analyze the performance of Commercial insurance products and the book of business.
• Evaluate profit factors and analyze performance data to provide product strategy recommendations related to profit, growth, retention, and overall book of business.
• Develop and maintain effective working relationships with other lines to identify product gaps and opportunities.
• Research and develop concepts for complex new or enhanced products and/or services.
• Collaborate with pricing/actuarial, claims, and other partners to ensure product compliance and financial viability.
• Prepare contract language, develop initial underwriting guidelines and standards, and oversee the development of new predictive analytics including pricing and other predictive models.
• Serve as a subject matter expert in contract language and underwriting guidelines to ensure product compliance.
• Conduct detailed competitive research and analysis for Commercial lines products using various information sources and tools to support decision making.
• Analyze data to assess competitive position in the marketplace and provide recommendations to leadership to capitalize on product offerings and geographic areas.
• Provide expertise on how competitor actions and industry trends affect Commercial lines' ability to meet corporate and divisional objectives.
• Stay informed on competitor rate changes, rating enhancements, and program changes; research competitor filings, rate and rule manuals to understand impacts on competitive position.

Requirements

• Demonstrated experience providing customer-driven solutions, support, or service.
• Experience performing complex financial, actuarial, or business analysis.
• Solid knowledge of customer needs, business industry, insurance, underwriting guidelines, and risk concepts relevant to the area of expertise.
• Strong problem-solving and analytical skills to review complex products and lines of business.
• Ability to make independent decisions.
• Experience with project management methodologies, practices, techniques, and tools.

Preferred Qualifications

• Knowledge within Commercial Casualty Lines of Business, including Workers’ Compensation, Commercial Auto, and General Liability.

Compensation & Benefits

• Salary range: $88,000.00 - $145,000.00 (may vary based on job level and geographic work location).
• Relocation support available for eligible candidates.
• Comprehensive medical, dental, and vision benefits.
• Wellbeing programs.
• Competitive 401(k) contribution and pension plan.
• Annual incentive program.
• Paid time off: 9 paid holidays and 23 days accrued annually for full-time employees.
• Student loan repayment program.
• Paid family leave.

Additional Information

• New employees participate in an orientation program during their first week, held in person at the Madison, WI headquarters or core locations, with virtual options depending on scheduling.
• Employment offers are contingent on background checks and signing a non-disclosure agreement for proprietary information.
• Sponsorship is not available for this position unless specified.
• The employer is an equal opportunity organization complying with all applicable federal, state, and local laws regarding non-discrimination and equal opportunity.
• Reasonable accommodations are available upon request for the application and interview process, essential job functions, and other employment benefits.

Location

Madison, WI (Headquarters) or other core locations as applicable.