Product Development Specialist

4 weeks ago


Lansing, Michigan, United States Auto-Owners Insurance Full time
Job Description

Auto-Owners Insurance is seeking a highly motivated and detail-oriented Product Development Analyst to join our Underwriting department. As a Product Development Analyst, you will play a critical role in researching and analyzing competitor and industry standard products to identify opportunities for improvement and growth.

Key Responsibilities:
  • Product Research and Analysis: Conduct thorough research and analysis of competitor and industry standard products to identify areas for improvement and growth.
  • Statutory Compliance: Research and identify statutory compliance changes, new product offerings, and changes to current coverage offerings, rules, and guidelines.
  • Project Management: Plan and execute the introduction of new projects and analyze the impact of the change after project completion.
  • Business Development: Provide assistance to develop business specifications for approved new coverages and/or updates to existing products.
  • Rule Development: Develop new rule pages or update existing rule pages in response to new coverage introductions and/or updates to existing products.
  • Regulatory Compliance: Compile rule pages and forms to file with state insurance departments in affected states.
  • Communication: Communicate and respond to state insurance department questions arising from a submitted rule or form filing.
  • Training and Development: Create and present training materials on projects.
  • Performance Analysis: Analyze complex loss experience and other statistical data of existing products from a usage and profitability perspective and suggest improvements.
Requirements:
  • Education: Bachelor's degree or equivalent experience.
  • Skills: Ability to read, interpret, and react to documents such as insurance policies, procedure manuals, forms, and endorsements to evaluate information, consider alternatives, and make independent decisions.
  • Communication: Ability to assemble information, develop opinions, and clearly express decisions on product development using sound reasoning and judgment.
  • Problem-Solving: Ability to select, reject, or offer alternatives for a given project within guidelines and philosophy established by the Company.
  • Teamwork: Ability to communicate, both oral and written, and understand and carry out complex instructions.
  • Independence: Ability to organize and independently execute assigned work under general supervision.
  • Confidentiality: Ability to maintain confidentiality and data security.
  • Professional Development: Ability to participate in and demonstrate active learning in approved educational programs.


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