SummaryThis position is eligible for a higher grade based on experience. This role is not eligible for sponsorship now or in the future.
The Commercial Lines Product Analyst plays a key role in supporting the development, enhancement, and ongoing management of Property & Casualty insurance products, with shared accountability for growth and profitability. In this role, you will analyze market demographics, competitive trends, and regulatory requirements to develop data-driven recommendations for product design, pricing, and enhancements.
The Commercial Lines Product Analyst leads cross-functional initiatives, translates business needs into clear requirements, and partners closely with stakeholders across the organization to deliver compliant, competitive, and profitable insurance solutions.
Key Responsibilities- Analyze and effectively communicate market changes, industry trends, competitive dynamics, and other critical insights that impact product performance and operations.
- Partner with insurance vendors and underwriting service providers supporting new product launches and ongoing product maintenance, including reviewing contracts, assessing vendor performance and efficiency, and quantifying recommendations.
- Collaborate with Legal and State teams to update policy language or develop new forms to ensure compliance with regulatory requirements and alignment with strategic objectives.
- Build comprehensive, well-documented business requirements for the IT department and partner closely with IT to ensure accurate and timely implementation of product changes.
- Collaborate with state teams representing national products on countrywide projects and strategic initiatives.
- Develop clear, comprehensive, and well-written proposals for review by senior leadership, including presenting recommendations and findings to key stakeholders.
- Leverage advanced Excel capabilities to build pivot tables, create cross-tabulations, apply formulas, analyze and manipulate data, and develop charts and visualizations that clearly summarize analyses.
- Demonstrate strong attention to detail while effectively managing multiple tasks and priorities in a fast-paced environment with limited supervision.
- Utilize advanced Excel skills to summarize, analyze, and visualize data in support of product recommendations.
- Apply end-to-end knowledge of insurance operations, understanding how all aspects of the business work together.
- Proactively communicate market developments, upcoming products, and industry trends to impacted departments across the organization.
- Conduct market and regulatory research using tools such as rate and form circulars issued by rating bureaus.
Qualifications- Bachelor's degree or professional-level knowledge in a specialized field, or equivalent related experience.
- 2-4 years of relevant experience, or an associate's degree with 4-6 years of equivalent experience.
- Commercial Lines experience is preferred, with emphasis on Property, General Liability, BOP, and Commercial Auto coverage.
- Basic project management skills.
- Strong qualitative analysis and critical thinking skills.
- Intermediate proficiency in Microsoft Excel, Word, and PowerPoint.
- Working knowledge of Snowflake and/or other data analysis tools preferred.
Pay Philosophy: The typical starting salary range for this role is determined by several factors including skills, experience, education, certifications, and location. Some roles at Mapfre are eligible for commission and/or bonus earnings, in addition to salary, calculated based upon factors set forth in the compensation plan for the role.
Salary Range: $63,300 - $115,100
