Senior Auto Insurance Product Analyst

About the position

As a Senior AUTO INSURANCE Product Analyst, you will be responsible for driving product strategy and development within UAIC. You will be responsible for in-depth analysis, research, and strategic recommendations to enhance existing products and develop new ones. Your expertise will contribute to our competitive edge in the market and ultimately help us better serve our customers. This position offers a primarily remote work arrangement, allowing the ideal candidate to work from their preferred location within the Southeast region.

Responsibilities

• Lead the ideation, design, and development of new insurance products and enhancements to existing ones.
• Conduct market research, competitor analysis, and customer feedback surveys to identify emerging trends and customer needs.
• Conduct variable analysis to enhance product performance.
• Analyze various variables affecting pricing, including customer demographics, claims data, and other relevant factors.
• Oversee the testing and validation of insurance products, ensuring accuracy, efficiency, and alignment with business objectives.
• Conduct thorough quality assurance checks to guarantee the reliability of products.
• Analyze data to identify opportunities for product improvement or modification.
• Collaborate with actuarial teams to determine optimal pricing strategies that ensure product profitability while remaining competitive in the market.
• Analyze claims data and loss trends to make data-driven decisions regarding product pricing adjustments.
• Stay abreast of industry regulations, ensuring that all products comply with state and federal guidelines.
• Work closely with legal and compliance teams to ensure adherence to regulatory standards.
• Develop and maintain key performance indicators (KPIs) to track the success and performance of insurance products.
• Regularly report on product performance, providing insights and recommendations for improvement.
• Collaborate with cross-functional teams including underwriting, marketing, sales, and claims to align product strategies with business objectives.
• Provide subject matter expertise and support to various teams as needed.
• Create and maintain detailed product documentation, including policy wordings, terms, and conditions.
• Generate comprehensive reports and presentations for senior management and other stakeholders.
• Provide training and education to internal teams on product features, benefits, and positioning in the market.
• Assist in the development of sales and marketing materials.
• Conduct ongoing assessments of competitor products, pricing strategies, and market positioning to identify opportunities for differentiation and competitive advantage.

Requirements

• Bachelor’s degree in mathematics, statistics, actuarial science, data science, or a related field required.
• Minimum 3 - 5 years of experience in a similar analytical role within the insurance industry, with a focus on product development and strategy is preferred.
• Extensive experience in insurance products, underwriting principles, and regulatory compliance.
• Advanced proficiency in data analysis tools (e.g., Excel, SQL, SAS, Tableau, Python) and statistical modeling techniques.
• In-depth knowledge of property and casualty insurance concepts, regulations, and industry trends.
• Excellent communication skills, both written and verbal, with the ability to present complex information clearly and persuasively.
• Strong leadership and interpersonal skills with a demonstrated track record of leading and mentoring teams.

Nice-to-haves

• Master’s degree preferred.

Benefits

• 401(k) Retirement Savings Plan with employer match.
• Comprehensive Medical, Prescription Drug, Vision, and Dental Insurance.
• Paid Time Off, Holidays, and Leave programs.
• Flexible spending accounts.
• Basic Life Insurance and Voluntary Life/ADD.
• Short Term and Long-Term Disability.