Please note, employment offered to residents in the following states only: Connecticut, Delaware, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont.

Please note: This is not a Data Analyst position

At Preferred, we understand the importance of holistic health. To meet the diverse needs of our employees, we offer a comprehensive set of benefits:

Financial

• Short-term disability, long-term disability, and life insurance coverage are provided at no cost
• Optional benefits include enhanced life insurance and critical illness plans
• 401k plan with an employer contribution that you will receive regardless of your own contribution to the plan
• Pension Plan
• Certain positions may also be eligible for short-term incentive plans.

Social

• Generous paid time off, offering of 25 days at hire (prorated based on start date for the first year)
• 7 days of paid sick leave
• 10 paid company holidays
• Personalized paid time off after 3 years!

Emotional

• Access to Betterhelp, a provider of accessible, personalized mental health care

Physical

• Medical, dental, and vision coverage options begin on the first day of employment
• Health Savings Accounts (with employer contribution) are available based on the medical plan you choose

YOUR PURPOSE AND FUNCTION IN OUR COMPANY:
The Senior Product Analyst is a significant part of a team that drives organizational results through innovative thinking and continuous product advancement. The Senior Product Analyst is responsible for leading product changes key to profitable growth, improving policyholder retention and exceeding the evolving expectations of our agent and customers. The Senior Product Analyst will do this through the formulation of internal and external relationships and close collaboration with cross-functional areas such as sales, underwriting, actuarial, project management and various rating bureaus. With appropriate oversight, the Senior Product Analyst will be responsible for the execution of product advancement initiatives, including but not limited to: competitive intelligence, product development strategy, coverage design/analysis, form design, territory opportunities, cost benefit analysis, and providing appropriate support to the rate development process. The Senior Product Analyst will strengthen the department’s capabilities by contributing to the integration of process enhancements to the product development lifecycle.

The Product Analyst II will:

• Develop a deep understanding of our product, pricing, and underwriting processes.

• Lead the development of moderate to high complexity new product offerings and enhancements to existing products through a collaborative approach to establish a product that achieves desired strategic results.

• Conduct routine analysis of the marketplace, competitive position and business results and articulate findings that support the enterprise business objectives.

• Identify new or emerging markets and competitive niches for the company and design business models to participate in such markets.

• Work with our independent agents to understand coverage needs and product opportunities.

• Maintain awareness of regulatory and emerging industry issues and contribute to the development of solutions.

• Apply technical skills and knowledge to respond to Enterprise or ISO or bureau driven changes to base products in a multi-line environment.

• Apply technical skills to configure and manage products and business rules utilizing modern systems and solutions.

• Engage with internal and external stakeholders on the development of product enhancements.

• Lead in the design, development and interpretation (intent) of policy language while adhering to policy contract standards.

• Serve as subject matter expert to clearly articulate product requirements.

• Develop post-monitoring reports to track results of strategies to plan, identify out-of-pattern trends, and communicate this progress to management in a timely manner.

• Serve as subject matter expert, developing related material for product implementation, including bulletins, online manuals, and general agent communications.

• Lead the development of training materials and participate in the delivery of training or key communications on the product features and benefits for moderate to high complexity changes.

• Coordinate, manage, and communicate the product development process across the enterprise.

KEY CAPABILITIES FOR SUCCESS:

• Effective working independently and proven ability to interact professionally with a cross-functional and diverse team, and to facilitate meetings, including virtual.

• Proven ability to multitask; good prioritization, time management and organizational skills.

• Excellent verbal and written communication skills with attention to detail.

• Skilled at developing and delivering informative, well-organized presentations.

• Demonstrates initiative and problem-solving attitude utilizing data.

• Strong use of situational judgement to determine the best course of action for a given issue.

• Strong business acumen with the ability to understand strategic and operational issues of the business, with thorough knowledge of the insurance industry.

• Adaptable to change.

• Basic project management and business analyst skills.

QUALIFICATIONS:

• Bachelor's or associate's degree with equivalent experience preferred

• 5+ years’ experience in personal or commercial property and casualty insurance, preferably in a product, underwriting, business analyst, or actuarial role

• Experience working in the commercial auto line of business.

• Preference given to applicants with insurance designation such as CPCU, AU, API, or similar

• Experience gathering and documenting requirements for a modern policy administration system (Guidewire, Duck Creek, Majesco)

• Proficient in Microsoft Office (Excel, Word, PowerPoint) with emphasis in Excel

ABOUT US: As a mutual company, we are independent by nature, so we think about insurance solutions a little differently. Through listening, problem solving, examining your challenges and collaborating on the right solutions for you, Preferred Mutual independent agents provide flexible solutions and adapt to your evolving needs. We do the same for our employees. We are process and domain experts, focused on the solutions that deliver results for our clients and our company. We offer a great work environment, professional development, challenging careers, and competitive compensation. With Preferred, there are no surprises. You can count on us to deliver on our promises and be there when you need us, as your insurance provider and your employer. Preferred Mutual is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability, protected veteran status or other characteristics protected by law.

DISCLAIMER:

This role (job) description indicates in general terms, the type and level of work performed as well as the typical responsibilities of employees in this classification. The duties described are not to be interpreted as being all-inclusive to any specific employee. Management reserves the rights to add, modify, change or rescind the work assignments of different positions and to make reasonable accommodations so that qualified employees can perform the essential functions of the job. Nothing in this position description changes the at-will employment relationship existing between Preferred Mutual Insurance Company and its employees.

The salary range for the role is $78,000 to $110,000 per year paid on a salaried basis. The rate offered to any candidate will be reflective of the candidate’s experience and any relevant education, certification, or qualifications related to their ability to perform the responsibilities of this position as permitted by law.