As a member of the Product Development Department, the Insurance Product Development Analyst contributes to the creation and maintenance of all Coverys products and services and/or all aspects of the product development life cycle. This includes the vetting of new product ideas, product enhancements, and contributing to compliance related inquiries. Additionally, the Product Development Analyst provides recommendations for amendments to our products and updates and/or maintains policy language.
Essential Duties & Responsibilities
Policy Form Drafting. Work with Product Development, Underwriting, and other applicable departments, to identify necessary updates to policy forms and rates/rules in accordance with the regulatory environment. Draft account specific forms for standard policies.
Product developments and revisions: Research and develop new and existing insurance products in partnership with internal stakeholders. Guide the development process from concept to implementation.
Industry Research. Utilize industry tools to research current insurance considerations to accommodate state specific product and service requirements.
Implementation Assistance. Assist with implementation of approved filings and the development of resources, communication materials and procedures to introduce or update products and services.
Product Filings. Assist the Compliance team with SERFF filing inquiries from state regulators and work with members of Compliance to prepare responses or modifications as needed. Assist with filing submission support as needed.
Product Research. Track and research product ideas and product enhancement requests from internal and external sources.
Product Consultation. Assist Underwriting teams with account-specific updates and changes to existing policy forms, including filing with state departments of insurance when necessary.
Internal Communication. Develop materials for introduction, implementation, and administration of new and revised products.
Processes & Procedures. Maintain internal tracking of policy rating/rule and form changes, product, and service availability. Assist in maintenance and updates to the department intranet/SharePoint website.
Project Work. Other duties as assigned.
Education, Experience, Competencies & Values
Bachelor's degree (BA) from four-year college or university, preferred
Two to five years related experience; or equivalent combination of education and experience.
Proficient knowledge of Adobe Acrobat and Microsoft Office applications.
Excellent analytical and problem resolution skills.
Strong communication skills, both verbal and written.
CPCU and/or RPLU designation or pursuit of professional designations, preferred.
Demonstrated attention to detail, procedures, deadlines, and quality results.
Excellent time management skills, the ability to work independently and as part of a team and flexibility in a deadline-driven environment.
Ability and willingness to travel up to 5% of the year.
The base salary range for this role is $73,000-$98,000. Individual compensation packages are based on a variety of factors that are unique to each candidate including geographic location, skill set, experience, qualifications and education.
If you're a caring and customer focused individual who enjoys working with passionate team members, Coverys is the right company for you!
Top Skills
What We Do
With healthcare’s constant complexities and distractions, it can be difficult to focus on patients. Coverys can help with proven medical professional liability insurance, data analytics, risk mitigation resources, and more. You can count on Coverys for protection and services that help you stay focused on improving clinical, operational, and financial outcomes.
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