Product Analyst

Job Description

Essential Functions

• Competitive and regulatory research (about 30%) :
• Research competitor rate, rule and form filings in SERFF, along with competitor manuals, to see what other carriers are changing; recommend which changes WMI should adopt and where WMI has coverage gaps, with the expected impact.
• Track ISO/AAIS form and rule revisions and recommend whether WMI adopts, modifies or declines them.
• Monitor legislative, regulatory and court developments in Wisconsin and Minnesota through OCI bulletins, MN DOC, NAMIC and the WIA; assess the impact on WMI forms and products, and document the research and conclusions behind each recommendation.
• Form and manual drafting (about 30%) :
• Draft and revise policy forms, endorsements, applications, declarations, policyholder notices and underwriting manual rules, turning legal and regulatory requirements into clear, defensible language.
• Review forms at least annually and whenever laws or court decisions change; compare Wisconsin and Minnesota requirements and keep language consistent across states where possible.
• Bring researched recommendations to WMI's in-house legal team to confirm interpretation of significant legal developments and language changes, and work with legal and claims to revise wording that claim disputes or litigation show to be unclear.
• Serve as the coverage expert for underwriting, claims and agents on questions about form intent and interpretation.
• Maintain the forms library and filing log, including edition dates, state applicability, version history and filing status.
• Regulatory filings (about 25%) :
• Prepare and submit rate, rule and form filings through SERFF to the departments of insurance, keeping a filing calendar so deadlines are met.
• Prepare and submit rate, rule and form filings through SERFF to the departments of insurance, keeping a filing calendar so deadlines are met. Write filing memoranda, explanatory exhibits and side-by-side comparisons; assemble actuarial support with the VP – Underwriting & Product Management.
• Respond to objection letters and regulator inquiries within required timeframes.
• Coordinate required regulatory changes across departments by their deadlines, and support Finance on statistical reporting and data calls with product and form information.
• Implementation and defect management (about 15%) :
• Turn approved filings into system requirements for the policy administration and rating systems; test before the effective date and audit issued policies afterward to confirm correct forms attach and rates calculate as filed.
• Own product defect management: log and triage rating, rule and form defects, work with IT and vendors to prioritize and verify fixes, coordinate corrections to affected policies, and address root causes.
• Update underwriting manuals, agent manuals and rating guides, and prepare agent bulletins and training on changes.
• Works daily with the VP – Underwriting & Product Management, underwriting, claims, IT and vendors, agent relations, and WMI's in-house legal team. Participates in industry groups such as NAMIC and the WIA and keeps up with professional development. Success in the first year looks like:
• Every filing submitted on the planned date, with objections answered on time.
• Competitor and bureau changes reviewed on a regular schedule, with adopt, modify or decline recommendations documented.
• A current, version-controlled forms library and filing log.
• Approved changes tested before the effective date, with defects logged, prioritized and resolved promptly.
• Leads at least one form or rule change from research through filing and implementation, with growing independence.

Specifications / Requirements

• Experience with Wisconsin OCI and Minnesota Department of Commerce filing requirements.
• Experience with commercial and umbrella products, including farm exposures and rural property risks.
• Professional designation such as CPCU, AINS, AU, ARC (Regulation and Compliance) or AIC, or willingness to pursue one.
• Experience writing system requirements, testing rating or policy administration systems, and tracking defects in tools such as Jira or Azure DevOps.
• Background at a regional or mutual carrier, or in an independent agency.

Education / Experience

• 3+ years in property and casualty insurance, primarily personal lines, with at least 2 years in policy forms, filings, regulatory compliance or product development. Candidates with 6+ years who have taken SERFF filings through approval on their own will be considered for Senior Product Analyst.
• Bachelor's degree in risk management, insurance, business, legal studies or a related field, or equivalent experience.
• Hands-on experience preparing and submitting filings in SERFF, and using SERFF Filing Access or similar tools to research other carriers' filings.
• Experience drafting or revising policy forms and endorsements.
• Working knowledge of home and auto products, including ISO or AAIS programs.