Product Analyst / Sr. Product Analyst
New York , United States
Your jobDigital Partners, a business unit within Munich Re Specialty Insurance, collaborates closely with start-ups and digital verticals, working with them to develop scalable and sustainable insurance business. This includes insurance and non-insurance direct to consumer entities that wish to innovate and digitize insurance along the whole value chain.
The purpose of this position is to assist the product team in producing, underwriting and servicing accounts that are submitted to and written through Munich Re Digital Partners in accordance with the Underwriting Mandate, business appetite and profitably goals.
Key responsibilities include:
- Support product managers from new product development including development of forms, rates, rules, filing materials/support and rate testing, to post-launch monitoring and analysis.
- Assist product team in developing underwriting guidelines and pricing risks where there is no historical data to evaluate loss potential or established rating bases for pricing.
- Assist the product team in competitive intelligence efforts by reviewing competitor filings, underwriting guidelines and marketing material.
- Demonstrate proficiency and a clear understanding of Munich Re underwriting principles and actuarial/pricing principles; maintain an in-depth knowledge of all tools and models used in the underwriting process.
- Ability to manipulate data for ad hoc reporting and rate making.
- As directed by product management team, maintain and develop professional relationships with existing or prospective clients and production sources, including MGAs, brokers, fronting carriers, captive managers, etc.
- Manage assigned partners and products through all aspects of product development, delivery, and post-launch monitoring with responsibility for the overall performance of the product.
- Ability to work at the speed necessary of our digital clients.
- 5+ years of product experience in the primary Property & Casualty Insurance Industry.
- Professional Liability product experience is preferred but not required.
- Experience designing and developing new products or enhancements, including development of forms, rates, rules and state filings is a plus.
- Knowledge and experience working with ISO products is a plus
- Ability to independently manage interactions with claims, financial, actuarial, operations and legal
- Ability to tackle new products, projects, and find solutions independently with minimal oversight
- Ability to address new challenges with a solution-based approach and the ability for complex problem solving
- Knowledge of the US insurance regulatory landscape
- Strong command of Excel (desirable – macros), MS Office Suite applications and computer systems.
- Knowledge of data gathering and manipulation techniques and tools such as Access, SQL and Python.
- Strong analytical abilities including mathematics and statistical concepts.
- Willing to travel as needed (up to 30%)
- Bachelor’s degree in economics, finance, business or mathematics discipline required.
- Professional qualifications a plus.
- Enjoys working in a constantly changing and fast-paced environment.
- Proven delivery track record, outcome focused.
- Self-starter but also a strong collaborator.
At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company - that's among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.
As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help you stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.