Westfield Specialty Insurance · 1 month ago
Product Research Senior Analyst
Westfield Center, OH, United States
Full-time
Hybrid
Mid, Senior Level
3+ years expWestfield Specialty Insurance is seeking a Product Research Senior Analyst who will assist Product Managers in driving profitable growth objectives. This role involves analyzing data to identify trends, conducting competitor analysis, and making product recommendations to enhance profitability and growth.
Insurance
Responsibilities
Independently conduct and understand data analysis of business results (frequency/severity, customer mix, rate need, competitive position) to assess profitability and growth opportunities and identify root cause
Formulate and execute potential recommendations to drive desired growth & profitability impacts based on established strategy with consideration for marketplace conditions and internal results
Present, inform and influence product and pricing recommendations to business partners including underwriting and sales
Serve as the analytical BOP lead for rate reviews, territory analyses, segmentation studies, and new rating variable development
May function as a subject matter expert in strategic initiatives to support the goals and objectives of the broader organization
Develops top and bottom-line forecasts and rigorously analyzes and evaluates product performance metrics against those plans to identify divergence from expectations. Recommends actions based on actual results and builds contingency plans
Monitor effectiveness of business initiatives and strategies, impacts to rate and pricing changes, book mix changes, and any outliers in trends; then provide recommendations on potential course of actions
Evaluate underwriting performance and partner with Underwriting leadership to refine rules or guidelines
Collaborate with IT and Product Development to drive implementation of rate, rule, and system updates
Demonstrates excellent problem-solving abilities, in a practical way, to balance between addressing root cause and introducing changes in fast order
Acquires market and competitive intelligence and develops knowledge of emerging trends to effectively compete in a rapidly changing environment and shares knowledge with the organization
Develops a deep understanding of the regulatory and statutory environments for assigned states and/or lines of business. Ensures product decisions and processes are in alignment with company policies and meet all legal and regulatory requirements
Qualification
Required
3-5 years of experience in Product Research, Insurance industry or a related field
Bachelor's degree in market research, statistics, data science, business, or a related field and/or commensurate work experience
Business Requirement Gathering
Technical Documentation
Data Reporting and Analysis
Product Development Lifecycle
Business Analysis
New Product Development
Market Research
Product Analytics
Preferred
Certified Market Research Professional (CMRP)
Certified Analytics Professional (CAP)
Company
Westfield Specialty Insurance
Westfield Specialty is a prominent specialty insurance carrier, leveraging the financial strength of Westfield, a leading U.S.-based property and casualty insurance company and the well-established Lloyd’s of London Syndicate 1200.
201-500 employees
Funding
Current Stage
Growth StageLeadership Team
Brad Kass
Chief Operations Officer
Manoj Jain
Chief Information Officer
Company data provided by crunchbase