Senior Product Analyst - Commercial Lines

<strong>Personal, compassionate service is what we&rsquo;re known for at NJM. We seek the best and brightest to help our customers when they need us most. As part of the NJM team, you'll not only enjoy some of the best benefits in the industry, you'll also be joining a company that's committed to professional development, diversity and innovative thinking.</strong><br /><br /><strong>What is it like to work at NJM?&nbsp; Click <a href=";feature=emb_logo" target="_blank" title="Video" rel="noopener noreferrer">here</a> to see!<br /><br />If you don't see the position you are looking for, apply <a href="" target="_blank" title="Introduce Yourself" rel="noopener noreferrer">here</a>.<br /></strong>


NJM Insurance

<p><strong>This isn&rsquo;t just insurance.&nbsp; It&rsquo;s NJM.</strong></p> <p>When you join the NJM family, you&rsquo;ll work with talented people who care about doing the right thing by our policyholders as well as each other. You&rsquo;ll be part of a financially strong and stable company that has flourished on relationships, integrity and service for more than a century. NJM is a special place where you can propel your career, help others and make friends &ndash; all at the same time.&nbsp;</p> <p>NJM is proud to offer our employees continuous learning options, outstanding benefits, access to wellness programs, and a wide range of opportunities to give back to the communities we are privileged to serve.&nbsp;</p> <p>Leading, independent consumer publications repeatedly recognize our commitment to customer and claims satisfaction. In addition, NJM has been named to the Forbes list of the Best Employers in New Jersey three years in a row, based on feedback directly from our employees.</p>

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Overview: <p>There&rsquo;s never been a better time to join NJM! &nbsp;With a nationally ranked reputation for outstanding customer service and&nbsp;a history that spans more than a century, NJM is a leading provider of worker&rsquo;s compensation, automobile and homeowners insurance in New Jersey It is an exciting time to join NJM as we are expanding our Commercial and Personal Lines products into other states. &nbsp; &nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</p> <p>Become a member of our team and you&rsquo;ll be part of company who operates for the sole benefit of its policyholders and is committed to maintaining the highest levels of service. &nbsp;Team members are offered a competitive compensation package and benefits including: a 401k plan, health coverage, a generous paid time off plan, and much more!</p> <p>NJM's Commercial Lines Product Development Team has an opening for a Senior Product Analyst.&nbsp;&nbsp; This position coordinates the development of new products and enhancement to new and existing products with a primary focus on our new up and coming Commercial Package Policy business. The Senior Analyst identifies, analyzes and evaluates potential areas for enhanced coverages, changes and new market entry opportunities.&nbsp; This role develops and oversees assigned product line to optimize profit and meet marketing, financial, and corporate growth objectives.</p>
Responsibilities: <ul> <li>Utilizes market research data to identify, analyze, and evaluate industries that are potential areas for enhancement or new entry.&nbsp;</li> <li>Recommend form coverages, terms and conditions and pricing, balancing based on competition, policyholder and business needs.</li> <li>Conceives, develops and implements insurance schemes or products.</li> <li>Interfaces with the actuarial function for the design and pricing of products along with profitability analysis for assigned lines of business.</li> <li>Works closely with customer base to identify key needs and appropriate product solutions.&nbsp; &nbsp;</li> <li>Monitors product programs for effectiveness and leads the development of recommendations to improve product performance in ways that align with enterprise strategies and objectives.&nbsp; &nbsp;</li> <li>Plan and prepare state filings as needed for assigned line of business.</li> <li>Review new forms with claims legal, and law and regulation for compliance, acceptability and related reasons as needed for assigned line of business.</li> <li>Manage circular distribution and actions to be taken for assigned line of business.</li> <li>Work with IT and other business units to write business rules in support of implementing new product and systemic updates related to forms, rates, and rules.</li> <li>Provide expertise and consultation to underwriting for assigned products from a forms and compliance perspective.</li> <li>Work with marketing in support of strategies related to assigned lines of business.</li> <li>Serves as primary product contact for state specific issues, and functions as product subject matter expert in developing state specific rates and plans.&nbsp;&nbsp;</li> <li>Develops and maintains a high level of understanding of economic conditions, regulatory issues, demographics, and competitor practices with respect to pricing, products, and marketing for assigned line of business.</li> <li>&nbsp;Participates in the development and implementation of training materials to appropriate underwriters and related staff on assigned line of business.</li> <li>Proactively builds relationships with peers, internal and external departments to support completion of ongoing assignments. A</li> <li>Assists with other duties as assigned&nbsp;</li> </ul>
Requirements: <ul> <li>Experience and knowledge in the following areas: Risk segmentation, commercial lines product and pricing, insurance marketing channels, and business analysis for Commercial Property, Crime, General Liability, and Inland Marine policies is preferred. Other lines of business knowledge are a plus.</li> <li>A candidate will need: <ul> <li>Expertise in the rating, forms, and underwriting requirements for Commercial Property, Crime, General Liability, and Inland Marine Policies preferred.&nbsp; Other lines knowledge in these areas is a plus.</li> <li>Strong industry knowledge, including commercial lines marketing, pricing and product philosophies.</li> <li>&nbsp;Collaborative focus does well working with other departments and building relationships.</li> <li>Comfortable taking initiative and being a self-starter.&nbsp;</li> <li>Strong oral and written communication skills.</li> <li>Experience gathering business requirements and working collaboratively with Information Technology and Business teams.&nbsp;</li> <li>Development of test plans and coordinating/performing User Acceptance Test&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li> </ul> </li> </ul> <p>&nbsp;</p> <p><strong>Required Education and Qualifications:</strong></p> <ul> <li>Bachelor&rsquo;s degree required.&nbsp;&nbsp;&nbsp; Insurance designations such as CPCU, ARM, etc.&nbsp; are a plus.</li> <li>Minimum of 5 years of experience in the P&amp;C Insurance industry and/or the product development field; or equivalent combination of education and experience.</li> <li>Focus related to Commercial Property, Crime, General Liability, and Inland Marine policies policies preferred.</li> <li>Strong analytical and quantitative skills required.</li> <li>Track record of demonstrated creativity in pricing and/or product development.</li> <li>Strong critical thinking and problem solving skills.</li> <li>Ability to review moderately complex issues and develop solutions.</li> <li>Must have initiative and be a self-starter.</li> <li>Must have strong interpersonal skills and be able to build commitment to decisions.</li> </ul> <p>&nbsp;</p> <p>The Salary Range for this role is $91,000 - 106,500. Compensation is commensurate with experience and credentials.</p>