Business Analyst - Small Commercial Lines

Business Analyst - Small Commercial Lines

Job ID #: 5050 Location: Worcester, MA
Functional Area: Business Analyst SBU: 27102 - Commercial Lines Other
Position Type: Full - Time
Education Required: Bachelors Degree
Experience Required: 1 - 3 Years
Relocation Provided: No

Job Description

Position Overview/Summary:

The Small Commercial Analyst is responsible for analyzing trends, making recommendations, and developing strategies resulting in profitable growth and improved profitability of existing book, across all Small Commercial lines of business.

Responsibilities/Essential Functions:

- Conducts complex analytical projects to evaluate product growth and profitability for Small Commercial lines.

- Gathers, validates and interprets raw data and reports

- Identify underlying issues and effectively summarize and communicate findings to management

- Review monthly scorecard and other reports, working with Director, and indentify root causes for variance and emerging trends on mix, production, etc.

- Recommend strategies and tactics to address adverse trends and improve profitability over the long-term

- Develop plans to implement and monitor recommended strategies and tactics, collaborating with colleagues to ensure acceptance and feasibility of recommended

- Monitor the implementation and success of initiatives within Small Commercial; make adjustments as necessary

- Continually assess environmental, market/competition and legislative/regulatory climate to inform analysis and recommendations

- Analyze key competitors' product features, compare to company's current product offering, develop and maintain product comparison, identify opportunities/threats, make recommendations to Director/Leadership

- Partner with Director and Leadership to develop, implement and monitor state-specific strategies to meet or exceed profit and growth targets

- Participate in underwriting audits for specific books of business and interpret corresponding results to inform underwriting strategy changes to improve results

- Develops tools for underwriting units to ensure that underwriter execution aligns with strategic priorities and initiatives.

- Complete ad hoc requests for Director and Leadership in a timely fashion. Effectively manage time and multiple priorities.

- Actively participate in, and sometimes lead, cross-functional projects

- Become comfortable with company data structure and definitions; Understand the relationship between the business issues and the available data

- Obtain proficiency in the various software applications required to perform daily work

- May perform other duties as assigned

- Providing analysis and recommendations that drive optimal results and ensure alignment of class/industry level strategies across lines of business

- Providing resources and tools that enable effective underwriting performance

- Recommending and implementing solutions that improve profitability

Position Requirements

Required Skills, Key Competencies and Experience:

- Bachelor's Degree preferred or equivalent relevant work experience

- 5+ years of Analyst experience

- Underwriting knowledge a plus

- Strong analytic and problem solving skills

- Small Commercial Lines Insurance industry knowledge

- Advanced Excel, Access and PowerPoint skills

- Effective communication, presentation and interpersonal skills

- Able to manage priorities, work independently, and seek guidance when needed

- Ability to manage initiatives from start to finish

- Strong collaboration skills to accomplish results without formal authority

- Knows how to get things accomplished through formal organizational channels and through informal networks

- Practically applies technical expertise to real business issues