Job details

Product Analyst - Travel/Renters Insurance

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Overview

Product Manager is a multi-disciplinary role with responsibility for product market intelligence including regulatory changes, technical development and implementation of proprietary and manuscript forms. Essential Duties and Responsibilities include the following:

Responsibilities

· Create or revise company insurance policies and other forms.

· Stay apprised of regulatory and legal changes that may impact lines of business and policy language.

· Perform competitive analyses of markets and products.

· Assist with responses to DOI objections, collaborating with Compliance, Underwriting and Actuarial as needed.

· Work with Compliance to maintain a database of current approved forms and advise the underwriting teams on their acceptable use.

· Work with Finance to understand product line specific state reporting requirements (i.e. bureaus, states assessments, ISO reporting)

· Provide updates and summaries to the underwriting community of impending regulatory changes, awareness to industry market conduct exams or lawsuits that may impact our products.

· Provide updates and summaries to the underwriting community on relevant revisions to coverage forms and rates.

· Research form-related judicial and/or legislative questions from the field both internally and externally.

· Work with IT, Compliance and Actuary to ensure the timely implementation of approved forms for underwriting use.

· Assist underwriting in developing and implementing guidelines, rules, and processes.

· Assist underwriting with interpretation policy language when needed and compile a list of policy enhancements for future filings

Qualifications

· Bachelor’s degree and 5 years product development experience; with insurance coverage experience preferred

· Significant knowledge of Insurance products, both Commercial and Personal Lines, both Admitted and Excess and Surplus Lines. Experience with Renters products (i.e. Tenant Legal Liability and H04) as well as Travel/Leisure Insurance products is preferred.

· High level of integrity and attention to detail.

· Ability to interpret judicial rulings on the acceptability of insurance forms and ensure our proprietary and manuscript forms are in compliance with same.

· Work with Compliance to ensure all underwriting standards comply with any applicable regulatory requirements

· Able to work independently and as part of a team in a fast-paced environment

· Excellent verbal and written communication skills

· Thorough proficiency in all Microsoft Office Suite

· Able to work independently and as part of a team in a fast-paced environment.

· Travel Requirements: 5-10 days per year

The salary range for this role is $100k - $125/year. This range is only applicable for jobs to be performed in Chicago, IL. Base pay offered may vary depending on, but not limited to education, experience, skills, geographic location, travel requirements, sales or revenue-based metrics. This range may be modified in the future.

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What We Offer

AmTrust Financial Services offers a competitive compensation package and excellent career advancement opportunities. Our benefits include: Medical & Dental Plans, Life Insurance, including eligible spouses & children, Health Care Flexible Spending, Dependent Care, 401k Savings Plans, Paid Time Off.

AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race, ethnicity, gender, sexual orientation, culture, religion or disabilities.

AmTrust values excellence and recognizes that by embracing the diverse backgrounds, skills, and perspectives of its workforce, it will sustain a competitive advantage and remain an employer of choice. Diversity is a business imperative, enabling us to attract, retain and develop the best talent available. We see diversity as more than just policies and practices. It is an integral part of who we are as a company, how we operate and how we see our future.

Average salary estimate

$112500 / YEARLY (est.)

min

max

$100000K

$125000K

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What You Should Know About Product Analyst - Travel/Renters Insurance, AmTrust Financial Services, Inc.

Are you ready to take your career to the next level? AmTrust is seeking a talented Product Analyst specialized in Travel and Renters Insurance to join our dynamic team in Chicago! In this role, you'll wear many hats, from analyzing market trends to revising insurance policies. With your keen attention to detail, you'll keep an eye on regulatory changes that impact our products and assist our teams in maintaining compliance. Collaboration is key, so you'll work alongside Compliance, Underwriting, and IT to ensure our proprietary forms meet all necessary standards. If you've got at least 5 years of experience in product development and a strong grasp of both Commercial and Personal Lines insurance, you're the perfect fit! Not to mention, your background in Travel or Renters insurance products, paired with excellent communication skills, will help streamline processes and enhance our offerings. AmTrust values diversity and inclusivity, making it a fantastic workplace for all. Plus, with a competitive salary ranging from $100k to $125k and fantastic benefits like medical plans and a 401k savings option, why wait? Join us in creating a standout insurance experience!

Frequently Asked Questions (FAQs) for Product Analyst - Travel/Renters Insurance Role at AmTrust Financial Services, Inc.

What are the main responsibilities of a Product Analyst at AmTrust in Chicago?

As a Product Analyst at AmTrust, your primary responsibilities include creating and revising insurance policies, staying updated on regulatory changes, and conducting competitive analyses of products and markets. You’ll collaborate with Compliance and Underwriting to ensure that all required forms are current and approved. In addition, you will provide insights to the underwriting community about impending regulatory changes and interpret judicial rulings affecting our forms.