The Role
The Insurance Program Analyst manages insurance and warranty products, ensuring financial integrity, analyzing data trends, processing sales, reconciling invoices, and leading operational improvements.
Summary Generated by Built In
At Lendbuzz, we believe financial opportunity should be more personalized and fair. We develop innovative technologies that provide underserved and overlooked borrowers with better access to credit. From our employees to our dealers, partners, and borrowers, we’ve built a company and a culture around a resolute belief in the promise and power of diversity. We value independent and critical thinking.
The Insurance Program Analyst is the operational and analytical owner of the company’s insurance and warranty products (GAP, VSI, VSC). This role ensures financial integrity through meticulous reconciliation, drives program profitability via trend analysis, and maintains seamless data flow between internal systems and third-party vendors. The Analyst is also responsible for scaling these programs through process automation and process improvements.
Key Responsibilities (Monthly Allocation):
1. GAP & Insurance Tracking
1. Policy Sales Processing: Manage weekly process of preparing and uploading files to vendor site
and sync with internal Accounting department.
2. Loss Development Triangles: Analyze loss and premium data to prepare monthly loss
development trends.
3. Tracking & Insurance Coverage: Prepare and upload weekly insurance coverage information to
insurance tracking vendor.
4. Invoice Reconciliation: Verify monthly vendor invoices against portfolio size; manage payment
approvals.
5. Special Project: Lead operational initiatives for vendor transitions or portfolio migrations.
2. VSI (Vendor Single Interest)
1. Program Performance: Develop monthly loss development results and call out data trends
regarding surplus/deficit projections.
2. Premium Management: Calculate accurate premium payments across multiple insurance
channels.
3. Audit & Reporting: Monthly audit of claim payments to ensure accuracy and reporting
consistency.
4. Primary Insurance Trends: Analyze total loss payback trends; flag low-performing cohorts to
management.
1. Program Performance: Develop monthly loss development results and call out data trends
regarding surplus/deficit projections.
2. Premium Management: Calculate accurate premium payments across multiple insurance
channels.
3. Audit & Reporting: Monthly audit of claim payments to ensure accuracy and reporting
consistency.
4. Primary Insurance Trends: Analyze total loss payback trends; flag low-performing cohorts to
management.
3. VSC (Vehicle Service Contract)
1. Cancellation Management: Confirm cancellation funds and amounts for processing and reconcile
with operational specialists.
2. Billing & Reconciliations: Perform VIN-level audits for vendor results.
3. Issue Resolution: Resolve rejected sales/VIN coverage issues with Sales and vendor teams.
4. Vendor Onboarding: Manage operational data setup for any new VSC product launches.
1. Cancellation Management: Confirm cancellation funds and amounts for processing and reconcile
with operational specialists.
2. Billing & Reconciliations: Perform VIN-level audits for vendor results.
3. Issue Resolution: Resolve rejected sales/VIN coverage issues with Sales and vendor teams.
4. Vendor Onboarding: Manage operational data setup for any new VSC product launches.
Additional Areas
4. Dealer & Portfolio Strategy
1. Dealer Performance Audits: Conduct deep-dives into "Dealer Bands" to identify high-loss retailers
and recommend pricing or product adjustments.
2. Profitability Modeling: Move beyond basic loss development triangles to model the long-term ROI
of each insurance product line.
3. Market Benchmarking: Periodically review competitor program structures to ensure our VSC/GAP
offerings remain competitive.
5. Compliance, Documentation & Systems
1. Standard Operating Procedures (SOPs): Create and maintain a comprehensive "Insurance
Operations Manual" for all tasks (IQQ, Sigma, Allied FTP, etc).
2. Reporting Automation: Partner with the Data/IT team to automate manual spreadsheet tasks into
Salesforce or Sigma dashboards.
Key Requirements:
- Financial Literacy: Deep understanding of insurance accounting (accruals, loss ratios, and
premium disbursements). - Analytical Rigor: Ability to turn raw data triangles into executive-level narratives and business
recommendations. - Advanced Data Proficiency: High-level Excel and Salesforce.
We believe:
Diversity is a competitive advantage. We celebrate our differences, and are better when we have a variety of experiences, viewpoints, and backgrounds.
Compassion is a strength. We care about our customers and look to build long-term relationships with them.
Simplicity is a key feature. We work hard to make our forms and processes as painless and intuitive as possible.
Honesty and transparency are non negotiable. We incorporate these traits in all of our interactions.
Financial opportunity belongs to everyone. We work every day to improve lives by extending this opportunity.
If you believe these things too then we would love to hear from you!
After an offer is accepted, Lendbuzz conducts a pre-employment background check. Any evaluation of the background check will be subject to an individualized assessment, taking into account the applicant’s or employee’s specific record and the responsibilities and requirements of the particular role.
A Note on Recruiting Outreach
We’ve been made aware of individuals falsely claiming to represent Lendbuzz using lookalike email addresses (eg @lendbuzzcareers.com). Please note that all legitimate emails from our team come from @lendbuzz.com. We will never ask for sensitive information or conduct interviews via messaging apps.
Skills Required
- Deep understanding of insurance accounting (accruals, loss ratios, premium disbursements)
- Ability to turn raw data into executive-level narratives and business recommendations
- High-level Excel and Salesforce
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The Company
What We Do
Lendbuzz is an AI-based auto finance platform that helps consumers with thin or no credit history obtain financing when purchasing a car. Powered by machine learning and proprietary algorithms, Lendbuzz can assess the creditworthiness of consumers with limited credit history—a group underserved by traditional banks. Through their auto dealership partners, Lendbuzz offers consumers attractive financing solutions while opening up opportunities for those dealerships to serve a more diversified client base. Lendbuzz is headquartered in Boston, Massachusetts and was founded in 2015.
