Insurance Product Analyst

As part of the Product and Service Development Department, the Insurance Product Analysts contribute to regulatory compliance of all Coverys products and services and/or all aspects of the product development life cycle. This may include vetting of new product ideas, product enhancements, and compliance related inquiries.

This position researches and interprets statutes and regulations along with providing recommendations for amendments to our products. This position must fulfill regulatory reporting requirements, contribute to filing of policy forms, rates, and rules, and/or establish relationships with state regulators, and helps update and/or maintain policy language. 

Essential Duties & Responsibilities

• Policy Form Drafting. Work with Product and Service Development, Underwriting, and other departments as applicable, to identify necessary updates to policy forms and rates/rules in accordance with regulatory environment.

• Industry Research. Utilize industry tools to research current insurance regulations to accommodate state specific product and service requirements.

• Regulatory Research. Provide research and feedback related to requests concerning regulatory guidelines.

• Compliance Research. Perform compliance research to monitor and evaluate proposed regulatory changes relevant to company products and services. Communicate such changes to pertinent individuals and assist in developing appropriate responses.

• Implementation Assistance. Assist with implementation of approved filings and the development of resources, communication materials and procedures to introduce or update products and services.

• External Communication. Establish and maintain positive relationships with state regulators. Prepare and submit form, rate, and rule filings to state departments of insurance via SERFF, including transmittal forms, memorandums, supporting documentation and exhibits.

• Regulatory Filings. Monitor SERFF filing inquiries from state regulators and work with members of Product and Service Development to prepare responses or modifications as needed.

• Regulatory Reporting. Prepare and submit regulatory reporting requirements to ensure timely responses are submitted to regulatory agencies.

• Product Research. Track and research product ideas and product enhancement requests from internal and external sources.

• Product Consultation. Assist Underwriting 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 rate/rule and form changes, product, and service availability, and filing expenses. Assist in maintenance and updates to the department intranet/SharePoint website.

Education, Experience, Competencies & Values

• Bachelor's degree (BA) from four-year college or university preferred; or two to five years related experience and/or training; or equivalent combination of education and experience.

• Proficient knowledge of Adobe Acrobat and Microsoft Office applications.

• Experience with SharePoint and SERFF preferred.

• Excellent analytical and problem resolution skills.

• Strong communication skills, both verbal and written.

• CPCU and/or RPLU and/or ARC designation or pursuit of professional designations preferred.

• Demonstrated attention to detail, procedures, deadlines, and quality results.

• Experience with Division of Insurance or other state regulatory agencies, compliance environment, regulatory assessment.

• 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 10% of the year.

The base salary range for this role is $69,500-$94,000. 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!