Join our Product & Service Development team! We are looking for a Product Analyst to join Coverys in either our Boston, MA; East Lansing, MI or Omaha, NE offices (hybrid work schedule).
The Product Analyst is responsible for contributing to or handling all aspects of the form development life cycle. This includes vetting of new product ideas and product enhancement as well as the filing of insurance policy form, rates and rules to achieve regulatory compliance. In addition, this position researches and interprets applicable regulatory regulations and guidelines. Product Analysts require excellent time management skills, the ability to work independently and as part of team and flexibility in a deadline-driven environment.
As part of the Product & Service Development Department, the Product Analyst contributes to the development and regulatory compliance of all Coverys products and services. The analyst helps to update and maintain policy language of Coverys products as well as assist in adapting these products to the needs of business. In addition, Product Analysts establish and maintain positive relationships with state regulators on the company’s behalf and work to enhance staff knowledge through the clear communication of regulatory requirements and product guidelines.
Essential Duties & Responsibilities
Work with Product and Service Development, Underwriting, and other departments as applicable, to identify necessary updates to policy forms and rates/rules.
Utilize industry tools to research current insurance regulations in order to accommodate state specific product and service requirements.
Provide research and feedback related to requests concerning regulatory guidelines.
Prepare and submit form, rate and rule filings to state departments of insurance via SERFF, including: transmittal forms, memorandums, supporting documentation and exhibits.
Monitor SERFF filing inquiries from state regulators and work with members of Product and Service Development to prepare responses or modifications as needed.
Establish and maintain positive relationships with state regulators.
Track and research product ideas and product enhancement requests from internal and external sources.
Assist Underwriting with account specific updates and changes to existing policy forms, including filing with state departments of insurance when necessary.
Develop materials for introduction, implementation and administration of new and revised products.
Maintain internal tracking of policy rate/rule and form changes, product and service availability, and filing expenses.
Assist with implementation of approved filings and the development of communication materials and procedures to introduce or update products and services.
Perform compliance research to monitor and evaluate proposed regulatory changes relevant to company products and services. Communicate such changes to pertinent individuals and assist in developing appropriate responses.
Assist in maintenance and updates to the department intranet/SharePoint website.
Education, Requirements & Competencies
College degree preferred, with three to five years related experience; or equivalent combination of education and experience
Experience working on an underwriting team or insurance agency is preferred.
Paralegal experience, specifically with respect to regulatory and compliance filings and procedures, is highly transferable.
Proficient knowledge of SharePoint, Adobe Acrobat, and Microsoft Office applications
Experience with SERFF preferred
Excellent analytical and problem resolution skills
Strong communication skills, both verbal and written
Demonstrated attention to detail, procedures, deadlines, and quality results
CPCU and/or RPLU designation or pursuit of professional designations preferred
Coverys is an equal-opportunity employer. Coverys’ job openings are open to all without regard to race, color, national origin, gender, gender identity, religion, age, height, weight, disability, political beliefs, sexual orientation, marital status, family status, or veteran status.
Additional Salary Information: Annual bonus potential plus complete benefit package
Internal Number: R22-241
Coverys is a nationally recognized medical professional liability insurer and a leader in helping the medical community address the challenges of healthcare delivery in today’s rapidly changing landscape. In a world of distractions, Coverys is committed to helping healthcare providers and administrators focus on what matters most—providing superior patient care and improving the health of their communities.