Western Reserve Group · 7 hours ago
Sr Product Analyst
Wooster, Ohio, United States
Full-time
Onsite
Senior Level
$85K/yr - $132K/yr
5+ years expWestern Reserve Group is a company focused on insurance product development. The Senior Product Analyst leads the development and implementation of insurance products while engaging in market analysis and compliance activities related to these products.
Commercial InsuranceFinancial ServicesInsurance
Responsibilities
Maintain expertise to respond as an internal resource of product research and development, competitive market analysis, demographics, and financial impact analysis for assigned products
Participate in product research and development, competitive market analysis, review of demographics and financial impact analysis
Collaborate with all company departments (Underwriting, Information Technology, Marketing, et al.) in management of the product lifecycle
Maintenance of forms repository and other systems of record
Review, analyze, develop, and modify insurance products and rules. This includes evaluation of competitive products, review and analysis of bureau information (ISO circulars) and preparation and submitting of filings to state insurance departments. Has the authority to recommend new insurance products and modifications to existing products
Provides information to IT regarding changes that affect web and policy-processing systems
Review, prepare and maintain product related items (policy forms, rate and rule manuals, policy applications, agency notices, policyholder notices, worksheets, and underwriting guidelines)
Ensure company compliance with state regulations for rule, rate, and form filings. This includes submitting state product filings for approval on new and modified insurance products in coordination with Actuarial Analysts
Maintain company compliance documentation and keep company personnel informed of changes to regulations, requirements, forms, coverages
Lead in agency web desktop development for assigned products
Work with Actuarial Analyst on pricing-related projects
Provide support to Underwriting and Claims staff regarding coverage interpretations. Seeks input from these areas regarding the development of new products and changes to existing products
Qualification
Required
College degree or equivalent business experience
5-7 years of Product Development, Underwriting or Claims experience
Extensive knowledge of coverage forms, endorsements, rules, and rating procedures
Advanced skills to interpret and revise complicated insurance contracts and to design and revise rate and rule manuals
Ability to communicate effectively (both verbally and in writing) with various audiences including programmers, technicians, insurance department personnel, underwriters, claims and marketing staff, agents, insureds, and management
Ability to understand rating and statistical algorithms including the interaction of the various factors and relativities that are applied
Understanding of business and insurance ratios and ability to communicate the impact of business decisions upon those ratios
Ability to understand and communicate complex insurance contract language and concepts
Analytical thinking and problem-solving capabilities
Attention to detail
Microsoft Office - Especially Word as well as Access, Excel, and PowerPoint
Preferred
Experience with state Insurance Department regulatory process
Advanced insurance education preferred (ex: INS, CPCU, etc…)
Preparation and submitting of filings to state insurance departments
Company
Western Reserve Group
The Western Reserve Group operates exclusively through over 400 independent insurance agents, providing insurance protection to over 167,000 households,farms and businesses in the states of Ohio & Indiana.
201-500 employees
H1B Sponsorship
Western Reserve Group has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (3)
2024 (2)
2023 (2)
2022 (1)
Funding
Current Stage
Growth StageLeadership Team
Michael Shutt
Chief Financial Officer
Company data provided by crunchbase