Commercial Product Analyst - State Management

Job Description

  
We are Farmers! 
  

Join a team of diverse professionals at Farmers to acquire skills on the job and apply your learned knowledge to future roles at Farmers. Farmers Insurance also offers extensive training opportunities through the award winning University of Farmers named by Training magazine amongst top 10 corporate training units in the world. Start your career at Farmers today! 

  
Think BIG with Farmers Business Insurance Group
 

Farmers' Business Insurance Group (BIG) has the luxury of leveraging the resources of a Fortune 500 company, while being a small enough part of the enterprise to operate nimbly. Here at Farmers, we are embracing rapid shifts in technology to improve the way we do business with a customer-centric approach, backed by data-driven insight.

 

Whether your passion lies in big data analytics, formulating pricing and marketing plans to hit profit and loss targets, or strategic product development to differentiate Farmers in the marketplace and provide a better customer experience, it's an exciting time to be in BIG!

 
Job Summary 
  

Members of the Product Management Team are responsible for driving profitable growth in their assigned Farmers' line of business or state. Partnerships with other departments will help to ensure each line of business or state performs at the highest possible level. In Product Management, industry knowledge, experience, instinct and business acumen combine to drive dynamic decision making.

 

Overall responsibilities include:

  • Analyzing product rate levels, segmentation and underwriting practices to maintain profitability.
  • Performing analyses using data manipulation and statistical methods to develop strategies and tactics that support revenue growth and profitability.
  • Providing support to product managers in implementing and communicating product and pricing changes across multiple Lines of Business in an assigned region of multiple states.   
  • Using knowledge of state regulatory guidelines and constraints to ensure product compliance.
  • Maximizing product marketability by assessing product features, evaluating the competition, gathering customer feedback and agent quoting behavior.
  • Collaborating with departments outside of Product, including Actuarial, Distribution, Claims, IT, Underwriting, and Legal.
 
Essential Job Functions 
  

The Analyst role supports the Product Management Team through obtaining, analyzing, implementing and communicating information that provides for continued revenue growth and profitability.

 

Day-to-day, the Analyst will:

 

Evaluate market needs and competitor changes by:

  • Researching across customers, agents, competitors, departments of insurance, and more.
  • Analyzing this information to uncover industry trends.
  • Providing thoughtful recommendations to the Product Management Team on pricing and other strategic decisions.
 

Provide data analytics by:

  • Querying databases to conduct ad-hoc analysis on specified or varied metrics.
  • Conducting complex analysis to support business decisions on their assigned product.
  • Building tools to create efficiencies for day-to-day tasks.
 

Implement product changes by:

  • Coordinating meetings with revision stakeholders and interfacing with IT directly to ensure accurate implementation.
  • Assisting in preparation of documents for regulatory filing, as well as measuring and monitoring success of state filings.
  • Creating bulletins, marketing material, training, and online updates as needed for state filings, product changes, and more.
 

Engage with the greater organization by:

  • Preparing reports and presentations which summarize and demonstrate analysis, recommendations, or other strategic decisions.
  • Communicating with other departments as-needed to optimize the team's success.
  • Aiding in training and development of other team members.
  • Representing the Product Manager in their absence.
 

Demonstrating excellence in the day-to-day tasks of this role may lead to special projects and other advanced opportunities being presented to the Analyst.

 
Physical Actions 
  

Required job duties are essentially sedentary work consisting of occasional walking standing and lifting and/or carrying 10 lbs. maximum. 

  
Physical Environment 
  

Required job duties are normally performed in a climate controlled office environment with occasional job duties performed in company car, airplane, hotel and various physical sites dictated by travel that are not always in a climate controlled environment.

  
Education & Experience Requirements 
  
  • College Degree required. Major in Math, Data Science, Economics, Finance or Business preferred.
  • Exposure to computer programming language a plus.
  • Entry level - 4 years of experience in either insurance product management, actuarial or in an analytical role preferred.
  
  
Special Skill Requirement 
  
  • Excellent verbal and written communication skills.
  • Familiarity with SAS/SQL a plus.
  • Proficiency with the Microsoft Office Suite required (specifically: Word, Excel, and PowerPoint).
  • Strong analytical skills and financial acumen.
  • Ability to manipulate and analyze date, uses reason and logic to draw conclusions.
  • Excellent organization and time management skills.
  • Insurance product and coverage knowledge a plus.
  

Farmers is an equal opportunity employer, committed to the strength of a diverse workforce. 


Schedule: Full-time

Job Posting: 09/25/2019