Associate Product Analyst

Canal Insurance Company - Greenville, SC

Full-time - Entry Level

Greenville, SC

Insurance Carriers and Related Activities

About the position

The Associate Insurance Product Analyst position at Canal Insurance Company is responsible for providing analytical support across various departments and levels of management. This role focuses on analyzing rating variables, implementing rate changes, and enhancing reporting processes to maximize profitability and meet market needs in the commercial trucking and specialty transportation insurance sector.

Responsibilities

• Research and propose monthly analysis of rating variables and underwriting considerations to maximize profitability.
• Implement rate changes in the rating system to maintain profitability by state.
• Create rate change tickets, review QA test results, and update rate change documentation.
• Troubleshoot system bugs and assist Underwriting and Operations with rating-related inquiries.
• Analyze monthly reports and communicate findings to management in relevant business terms.
• Suggest and implement enhancements to existing reports for better visibility into company performance.
• Serve as a resource to Underwriting & Product Management by preparing recurring and ad-hoc analysis.
• Highlight driving factors to management and recommend adjustments for improvements.
• Assist with rate and rule filings, including amending the rating manual and handling DOI objections.
• Work closely with the Actuarial Department on rate indications and pricing adjustments.
• Conduct competitor research through online rate filing tools and review DOI filings for strategic information.
• Provide additional analysis and conceptualize ways to streamline existing business processes.
• Act as a liaison with Finance, IT, Claims, Actuarial, and other departments to validate data integrity.

Requirements

• Bachelor's Degree required, preferably in Mathematics, Economics, Risk and Insurance, or Business.
• Strong analytical skills are required.
• Advanced computer skills in word processing, spreadsheets, and databases are required.
• Knowledge and experience in Cognos, SERFF, SQL, R, Power BI, and similar analytical tools are preferred.
• Experience in the insurance industry is advantageous.

Nice-to-haves

• Experience with analytical tools such as Cognos, SERFF, SQL, R, and Power BI.