AIG - Wilmington, DE
posted 2 months ago
Join us as a Senior Product Analyst to leverage your specialist expertise and experience in the dynamic field of General Insurance. General Insurance is a leading provider of insurance products and services, dedicated to managing risk for both commercial and personal customers. We offer a broad range of products through a diversified, multi-channel distribution network, including one of the world's most extensive property casualty networks. In this role, you will work closely with various departments including Underwriting, Sales Directors, Claims, Operations, Finance, Legal, Risk, and Compliance to help achieve strategic initiatives that will ensure the long-term growth of profits for Accident and Health. The primary function of the Senior Product Analyst is to prepare and design new and enhanced product forms for the US Accident & Health team. This role requires close collaboration with key partners across multiple business functions such as Underwriting, Distribution, Actuarial, Legal, Claims, and Marketing to ensure that the strategic goals of US A&H are met from a product perspective. You will draft language for generic and state-specific product policy forms for assigned projects, ensuring compliance with company standards and all relevant legal and regulatory requirements. This includes preparing necessary forms to facilitate approval and sign-off from management and relevant business teams. In addition, you will review proposed insurance policies, endorsements, rates, and rules, assisting business units with filing strategies, pre-filing research, and identifying areas of deficiency. You will develop policy wording for new coverages, whether for completely new policy forms or amendments that add new coverage to existing forms. The types of forms you will develop include policies, certificates, riders & endorsements, filing letters explaining product scope, Explanation of Variables, and Issue Pages. You will also be responsible for developing policy forms for “single case filings” in accordance with state statutes and regulations, based on information provided by product, underwriting, actuarial, legal, and compliance teams. Your role will involve partnering with the state filing department, legal, compliance, product, underwriting, and actuaries to address comments and objections from state insurance examiners. You will review objections and statutory references, developing professional responses to comments from state insurance departments. Additionally, you will provide expertise in analyzing proposed product change requests, defining possible options to support requested changes, and clearly identifying the impact of those changes. You will also provide product support to Underwriting, Marketing, and training teams as it relates to policy forms, monitor and track filing statuses, and ensure that established metrics are met while keeping all necessary stakeholders updated on form development progress. Lastly, you will review marketing material for product content to ensure compliance with A&H advertising regulations and clarity of product offerings for consumers.