Farmers Insurance, a premier US property and casualty insurer, seeks talented individuals to join the Personal Lines group at Farmers. Members of the Personal Lines team work together to achieve our goals of:
- Profitable growth,
- Improved competitive position,
- Use of cutting edge methods and forward thinking in development of new products,
- Maintenance of existing products with a fresh and ever-evolving point of view
Each of these goals supports Farmers' overall mission of instilling confidence, security, and peace of mind in our customers by helping them get smart about insurance, plan for potential risk, and quickly restore their lives after a loss.
Members of the Product Management Team are responsible for driving profitable growth in the assigned Farmers' line of business. Partnerships with other departments will help to ensure each state performs at the highest possible level. Industry knowledge, prior experience, instinct and business acumen combine to drive decisions in each individual state. Day to day responsibilities include:
- Analyzing product rate levels, segmentation and underwriting practices to maintain profitability
- Evaluating the competition: How does our product compare to others in the marketplace?
- Using knowledge of state regulatory guidelines and constraints to assure product compliance
- Maximizing product marketability by assessing product features, customer friendliness and agent quoting behavior
- Collaborating with departments outside of product management, including pricing, distribution, claims, and government affairs
Role of a Product Analyst II
The Product Analyst II role within Product Process is to:
- Implement countrywide enhancements that may originate within Product Process or from other departments
- Develop and own product processes to ensure efficiency and consistency across auto, home, and umbrella. This would include continuous refinement based on feedback and results.
- Work cross-functionally to ensure external product communications are accurate, meaningful, and resonate with our core customers.
- Conduct complex analysis to support business decisions and/or recommendations on the assigned product. This includes cost benefit or competitor analysis.
- Analyze competitor information to uncover industry trends.
- Query databases to conduct ad-hoc analysis on specified or varied metrics.
- Build tools to create efficiencies in every aspect of work and especially in analyzing metrics
- Prepare presentations in support of their recommended changes to product or processes, which will be presented to Directors and/or Sr. Leadership for approval.
- Aid in training and development of other Analysts team members
A day in the life of a Product Analyst II will include use of Business Intelligence or Database (SAS/SQL) tools to extract and manipulate data. Through careful analysis, the Product Analyst II will use the data to gain a deeper understanding of the behavior of the business. Reporting/presenting findings to managers and others will be key to success and advancement, especially when insights are leveraged to recommend product modifications which positively affect the bottom line. The Product Analyst II would also track and evaluate the performance of the modifications. Special projects and other advanced opportunities will be presented to Product Analysts who demonstrate potential through outstanding execution of day-to-day tasks.
- High School or equivalent required. Bachelor's degree in Math, Economics, Finance or Business preferred
- Three years' experience in similar role or graduate degree with less than 3 years' experience
- Proficiency in Microsoft Office Suite
- Excellent verbal and written communication
- Strong analytical skills and financial acumen
- Ability to manipulate and analyze data, and use reason and logic to draw conclusions
- Excellent organization and time management skills
- Exposure to computer programming language preferred
Benefits and Perks
- 401K savings plan including company match
- Generous paid time off
- Medical, Dental, Vision, Life and Long Term Disability Insurance
- Health and wellness benefits
- Flexible spending account (FSA) and Health Savings Account(HSA)
- Tuition reimbursement
Job Posting: 05/21/2019
Other Locations: United States, Delaware, Wilmington,United States, Ohio, Independence