Small Business Product Development Analyst

BUILD YOUR FUTURE, WHILE PROTECTING THEIRS.

You will be challenged. Rewarded. And valued for your unique experience, background and perspective. 

Join a team where hard work pays off and original thinking is celebrated. As you build your future at Westfield, you will quickly learn that protecting our customer’s future is at the heart of what we do. We deliver on our promise to help restore lives and rebuild businesses when the unexpected happens. Building relationships has been a part of our culture since 1848. 

Be a part of a team that recognizes and appreciates those who take initiative, seek opportunity and strive for innovation in a changing world.

Small Business Product Development Analyst Job Summary 

• Annual Salary:  $66,259 - $76,198 - $86,137

As part of the Small Business Product Development Unit, the SB Product Development Analyst serves as SB product subject matter resource for assigned lines of business. The SB Product Development Analyst assists the SB Product Development Managers with the formal product development life cycle for new product ideas and product enhancement requests with an eye toward leveraging efficiency and speed-to-market measures. This position will contribute to the development of new coverages as well as enhancements to existing coverages, along with recommending and developing underwriting rules and guidelines for new and existing products. 

Essential Functions (primary functions and/or reasons the job exists in order of importance)

1. Serves as SB product subject matter resource for assigned line(s) of business and on projects and other corporate initiatives. 

2. Assists the SB Product Development Manager with the product development life cycle (e.g. the development of new coverages, enhancement to existing coverages, discontinuation of products) by:

• Leveraging efficiency and speed-to-market measures. 
• Reviewing incoming advisory organization circulars, bulletins or notices to identify form, rate and rule impacts to products and systems for assigned line of business.
• Making recommendations for appropriate action to Product Development Manager.
• Supporting Westfield proprietary changes to forms, rates, and rules.
• Preparing form, rate, and rule materials for filing.
• Drafting responses to filing objections.
• Collaborating with the Actuarial Department when appropriate.
• Drafting or supporting the drafting of proprietary forms language, including manuscript endorsements.
• Recommending, developing and maintaining new or revised underwriting guidelines. 
• Identifying and researching product deficiencies and opportunities and assisting the Product Development Manager in developing future strategies.

3. Implements approved product changes.

• Assesses required changes to systems.
• Independently defines and documents detailed requirements to effect product changes for both non-complex and complex form, rate or rule changes. 
• Engages and collaborates with the Information Technology (IT) Department to implement required changes.
• Ensures that collaborating departments (IT, Actuarial, Education & Compliance, Claims, and Statistical Reporting) are well informed of changes and are included in timelines.  
• Leads and coordinates implementation activities across departments. 

4. Develops communication materials and procedures to introduce or update products and services.

• Creates and sends communications to appropriate departments informing them of changes.
• Creates or assists in the creation of training and support materials 

5. Collaborates with other departments to identify and correct production issues.  Recommends and leads appropriate corrective actions across departments.

6. Maintains and updates Reference Connect including maintaining and managing version control for product materials, filings, and implementation materials.

7. Reviews, analyzes, validates and updates detailed product rules, rates and algorithms maintained in a series of semi-technical spreadsheets.

8. Monitors and evaluates proposed regulatory changes relevant to company products and assists in developing appropriate responses.

9. Identifies opportunities to improve and standardize internal practices and helps implement them.

10. Travels occasionally in order to participate in special assignments, training, and/or travel between office locations. 

Desired Qualifications/Experience/Certification/Education (in order of importance)

1. 4+ years’ experience in the insurance industry (e.g. underwriting, compliance, product development).

2. Experience with Microsoft Office, including creating and formatting documents in Word and building and maintaining spreadsheets in Excel. 

3. Prior experience managing projects including working with and influencing others, removing barriers, and successfully completing projects on time.  

4. Strong attention to detail, procedures, and deadlines including the ability to deliver quality results.

5. Excellent time management and work prioritization skills, obtained via management of small to mid-size projects. 

6. Ability to work independently and as part of team. 

7. Ability to meet deadlines in a fast paced environment. 

8. Excellent oral and written communication skills.

9. Mathematical, analytical, and problem resolution skills via past assignments. 

10. Experience performing research and analysis work.

11. Experience with SERFF and filing requirements, along with SharePoint and Adobe Acrobat. 

12. CPCU designation or pursuit of other relevant professional designations preferred

13. Bachelor’s degree OR commensurate experience. 

14. Valid driver’s license and a driving record that conforms to company standards. 

Physical Requirements (specific to the role)

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  

• Ability to work effectively in an office environment for 40+ hours per week (including sitting, standing and working on a computer for extended periods of time).

• Ability to communicate effectively in a collaborative work environment utilizing various technologies such as:  telephone, computer, web, voice, teleconferencing, e-mail, etc.

• Ability to travel as required.

• Ability to operate an automobile within the parameters of the driving policy. 

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.

Westfield offers a Total Rewards program that focuses on compensation, benefits and wellness, and includes perks like 401(k), pension plan, annual incentive, education reimbursement, flex-time, onsite fitness center and casual dress. Work-life balance, recognition, and learning and career development are all part of a rewarding career with Westfield.

We are an equal opportunity employer/minority/female/disability/protected veteran.