Product Development Analyst Loss Control

Auto-Owners Insurance - Lansing, MI

Full-time - Entry Level

Remote - Lansing, MI

Accommodation

About the position

Auto-Owners Insurance, a top-rated insurance carrier, is seeking a motivated individual to join our Underwriting department as a Product Development Analyst. This position is crucial for ensuring that our products remain competitive and compliant with industry standards. The successful candidate will be responsible for researching and analyzing competitor and industry standard products, comparing them to similar products offered by the Company. This involves a thorough examination of statutory compliance changes, new product offerings, and modifications to current coverage offerings, rules, and guidelines. If required, the analyst will create and present complex proposals based on their findings, ensuring that all recommendations are backed by solid research and analysis. In addition to research, the Product Development Analyst will plan and execute the introduction of new projects, analyzing the impact of these changes after project completion. This role also includes providing assistance in developing business specifications for approved new coverages and updates to existing products. The analyst will be tasked with developing new rule pages or updating existing ones in response to new coverage introductions or updates, which includes the development and revision of coverage details and eligibility criteria. Furthermore, the analyst will compile rule pages and forms to file with state insurance departments in affected states and will communicate and respond to any questions from these departments regarding submitted filings. The role requires the creation and presentation of training materials on various projects, as well as the analysis of complex loss experience and other statistical data of existing products from a usage and profitability perspective. The analyst will suggest improvements based on this analysis, contributing to the overall success and profitability of the Company’s product offerings. Maintaining punctual attendance in accordance with an assigned work schedule at a Company-approved work location is also a key expectation of this role.

Responsibilities

• Research and analyze competitor and industry standard products for comparison to similar products offered by the Company.
• Research and identify statutory compliance changes, new product offerings, and changes to current coverage offerings, rules, and guidelines.
• Create and present complex proposals based on findings, if required.
• Plan and execute the introduction of new projects and analyze the impact of the change after project completion.
• Provide assistance to develop business specifications for approved new coverages and/or updates to existing products.
• Develop new rule pages or update existing rule pages in response to new coverage introductions and/or updates to existing products.
• Compile rule pages and forms to file with state insurance departments in affected states.
• Communicate and respond to state insurance department questions arising from a submitted rule or form filing.
• Create and present training materials on projects.
• Analyze complex loss experience and other statistical data of existing products from a usage and profitability perspective and suggest improvements.
• Maintain punctual attendance in accordance with an assigned work schedule at a Company approved work location.

Requirements

• Bachelor's degree or equivalent experience.
• Ability to read, interpret and react to documents such as insurance policies, procedure manuals, forms, and endorsements.
• Ability to assemble information, develop opinions, and clearly express decisions on product development using sound reasoning and judgment.
• Ability to select, reject, or offer alternatives for a given project within guidelines and philosophy established by the Company.
• Ability to communicate, both oral and written.
• Ability to understand and carry out complex instructions.
• Ability to organize and independently execute assigned work under general supervision.
• Ability to maintain confidentiality and data security.
• Ability to participate in and demonstrate active learning in approved educational programs.

Benefits

• Competitive base salary
• Matched 401(k)
• Fully-funded pension plan (once vested)
• Bonus programs
• Generous paid time off including holidays, vacation days, personal time, and sick leave