Insurance Product Analyst (Operations)

$45,900 - $97,900/Yr

Marsh McLennan - Bethesda, MD

Full-time - Mid Level

Bethesda, MD

10,001+ employees

Insurance Carriers and Related Activities

About the position

Victor is seeking candidates for our Insurance Product Analyst position in our Bethesda or Broomfield office (Hybrid). The role will be responsible for analyzing and documenting various insurance operational processes. In addition, the role will be expected to gain subject matter expertise on certain key processes across various underwriting programs. The ideal candidate should have strong analytical skills, attention to detail, and excellent communication and interpersonal skills. You will acquire first-hand experience of the inner workings of a Managing General Agency (MGA) and gain specific understanding of P&C Specialty insurance products. You can expect to make a direct impact on business results by utilizing your analytical and collaborative skills to enable effective and efficient business processes. Your career will be supported with a hands-on training and development plan that encourages you to own your career and better yourself by discovering your motivations and unlocking your passions.

Responsibilities

• Analyze, understand and document operational processes and procedures in support of insurance policies, applications, endorsements, and other related documents.
• Serve as day-to-day resource for procedural or process questions.
• Provide excellent customer service and respond to inquiries in a timely and professional manner.
• Effectively collaborate across functional areas to meet team objectives.
• Participate in the development and implementation of policies and procedures to improve efficiency and effectiveness of insurance operations.
• Train more junior team members on standards and exception handling.
• Perform user acceptance testing, troubleshooting and analysis for system related developments submitted by IT team members and translate those into actionable items.
• Progressively increase your understanding around Victor's insurance products - coverage, rating, underwriting, performance, production, and target distribution.
• Work cross-functionally across multiple Victor teams, such as Underwriting, Accounting, off-shore operations, technology, and other business units to develop process improvements and product enhancements.
• Handle other operational tasks as assigned.
• Complete special projects as necessary.

Requirements

• Bachelor's degree
• 3+ years of experience in an operations role with an emphasis in defining processes and procedures, analyzing processes for efficiencies and working directly with an offshore team.
• Ability to navigate multiple system applications.
• Hands-on experience in documenting processes (process mapping).
• Proficient in Microsoft Office Suite and other relevant software.
• Strong attention to detail and organizational skills.
• Ability to multitask, prioritize and work in a fast-paced environment.
• Analytical and critical thinking skills.

Nice-to-haves

• 3+ years of insurance industry experience
• Experience in redesigning processes, working on system changes in support of process changes, technical writing
• Superior communication skills.

Benefits

• Health and welfare benefits
• Tuition assistance
• 401K savings and other retirement programs
• Employee assistance programs