Farmers Insurance Sr. Product Analyst in Woodland Hills, California
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Farmers Insurance, a premier US property and casualty insurer, seeks a talented individual to join the Personal Lines Innovation team at Farmers. Members of the Personal Lines Innovation team work together to achieve our goals of:
Use of cutting edge methods and forward thinking to develop new products
Improved competitive position
Maintenance of existing products with a fresh and ever-evolving point of view
Each of these goals supports Farmers’ overall mission of instilling confidence, security, and peace of mind in our customers by helping them get smart about insurance, plan for potential risk, and quickly restore their lives after a loss.
Product Innovation Integration Team
Members of the Product Innovation Integration Team (PIIT) are responsible for identifying customer needs, developing new products and rolling them out to consumers.. PIIT collaborates with a cross-functional team to ensure each product performs at the highest possible level. Industry knowledge, prior experience, creative ideas, instinct and business acumen combine to drive decisions in for each product. Day to day responsibilities include:
• Supporting development and maintenance of new Personal Lines products
• Analyzing product rate levels, segmentation and underwriting practices to maintain profitability
• Monitoring/Evaluating the competition: How does our product compare to others in the marketplace?
• Maximizing product marketability by assessing product features, customer friendliness and agent quoting behavior
• Assessing the potential market for a product
• Collaborating with departments outside of product management, marketing, sales, claims, and legal.
Role of a Senior Product Analyst
The Senior Product Analyst role is to support the Product Management Team through obtaining, analyzing and communicating information that provides insight to the revenue growth and profitability for the line of business. The successful Senior Analyst will:
• Provide thoughtful recommendations to the Product Team on product performance and other strategic decisions
• Conduct complex analysis to support business decisions Analyze competitor information to uncover industry trends and opportunities
• Identify relevant demographic trends and preference research
• Query databases to conduct ad-hoc analysis on specified or varied metrics
• Build tools to create efficiencies in every aspect of work and especially in developing insights
• Prepare presentations in support of new opportunities and other strategic decisions
• Aid in training and development of other Analysts team members
A day in the life of a Senior Analyst will include use of Business Intelligence or Database (SAS/SQL) tools to extract and manipulate data. Through careful analysis, the Senior Analyst will use the data to gain a deeper understanding of the behavior of the business and new opportunities. Reporting/presenting findings to managers and others will be key to success and advancement, especially when insights are leveraged to recommend product modifications which positively affect the bottom line. The Senior Analyst would also track and evaluate the performance of the modifications.
• College Degree preferred. Major in Math, Economics, Finance or Business preferred.
• Four years’ experience in similar role or graduate degree and two years’ experience in similar role.
• Proficiency in Microsoft Office Suite
• Excellent verbal and written communication
• Strong analytical skills and financial acumen
• Ability to manipulate and analyze data, and use reason and logic to draw conclusions
• Excellent organization and time management skills
• Exposure to computer programming language preferred
• Comfortable with ambiguity
Benefits and Perks
• 401K savings plan including company match
• Generous paid time off
• Medical, Dental, Vision, Life and Long Term Disability Insurance
• Health and wellness benefits
• Flexible spending account (FSA) and Health Savings Account (HSA)
• Tuition reimbursement
Farmers is an equal opportunity employer, committed to the strength of a diverse workforce.
Job: *Strategic Management & Administration
Organization: *Farmers Insurance
Title: Sr. Product Analyst
Location: California-Woodland Hills
Requisition ID: 1900094A
Other Locations: United States-Delaware-Wilmington, United States-Ohio-Independence