Blue Cross Blue Shield of Michigan
Product Development Analyst I- P&C
Blue Cross Blue Shield of Michigan, Westerville, Ohio, United States, 43082
Compensation:
Competitive Compensation and Benefits Package
About Us AF Group’s focused and passionate team uses industry‑leading best practices, analytics and resources to manage risk and minimize loss for our policyholders while strengthening businesses with our valued independent agent partners.
We strive to continuously increase the long‑term value of our organization by outperforming our industry peers and fostering a culture of underwriting and claims excellence.
Overview Product Development Analyst I is responsible for the oversight and development of new and updated products, working closely with leaders from Underwriting, Claims, Compliance, General Counsel, and Corporate Underwriting.
This position assists the Manager of Product Development and Compliance in developing, maintaining, and reviewing bureau coverage forms and endorsements to provide Specialty Lines business units with access to quality policy language and products.
Pay Range: Actual compensation decision relies on the consideration of internal equity, candidate’s skills and professional experience, geographic location, market, and other potential factors. It is not standard practice for an offer to be at or near the top of the range, and therefore a reasonable estimate for this role is between $56,700 and $94,900.
Responsibilities
Coordinating the Product Development process for Specialty Lines, including reviewing current policy forms and endorsements to analyze and identify unforeseen or unanticipated liabilities.
Reviewing forms for new products to identify gaps and limitations in proposed policy language.
Researching legal and statutory requirements by state for new and existing products.
Maintaining the historical record of Specialty Lines forms and collaborating with Corporate Underwriting to update and maintain the AF Group Forms Library for Specialty Lines.
Collaborating with Underwriting and Claims to ensure consistency in policy language and claim‑handling, including working with Claims to ensure underwriters are apprised of potential liabilities and emerging claim and legal trends.
Preparing draft forms and revisions for existing products and exposures for presentation to Leadership.
Communicating the publication of new or updated policy forms and endorsements to floor underwriters.
Coordinating Underwriting compliance for all Specialty Lines, including responding to the states regarding Underwriting and Compliance complaints.
Reviewing bulletins and circulars from trade organizations and the states to assess applicability to Specialty Lines products and processes and referring as necessary.
Keeping abreast of external industry developments, including legislative and judicial arenas; reviewing ISO, AAIS, and other bureau‑driven circulars and products, and referring recommended changes to Management.
Reviewing recommended form and product changes to align with Specialty Lines strategic direction, recommend implementation options, and lead prioritization of coverage enhancements across the Division.
Preparing, monitoring, drafting, and obtaining regulatory approval of rates, rules, and forms utilized by admitted products within Specialty Lines.
With Management, developing responses to objections to admitted products within Specialty Lines.
Requirements Education and Experience
Bachelor’s degree required. CPCU or ARM preferred.
Three (3) to five (5) years of experience in P&C Underwriting, Product Management, or Product Development required.
Skills and Knowledge
Extensive knowledge of insurance and underwriting environment across all lines of business (Casualty / Property – Admitted / Non‑Admitted – Assigned Risk).
Ability to analyze and synthesize information for broad consumption.
Technical acumen and ability to command technical content for various audiences.
Effective communication, both verbal and written, including active listening skills.
Ability to work effectively in a team environment and independently.
Strong organizational, planning, and writing skills.
Other Information
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this role.
Work is performed in an office with minimal hazards. Travel may be required, with occasional overnight stays. Ability to lift and carry computer equipment up to 35 lbs. Driver’s license required.
Note: This job description does not constitute a contract for employment.
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Competitive Compensation and Benefits Package
About Us AF Group’s focused and passionate team uses industry‑leading best practices, analytics and resources to manage risk and minimize loss for our policyholders while strengthening businesses with our valued independent agent partners.
We strive to continuously increase the long‑term value of our organization by outperforming our industry peers and fostering a culture of underwriting and claims excellence.
Overview Product Development Analyst I is responsible for the oversight and development of new and updated products, working closely with leaders from Underwriting, Claims, Compliance, General Counsel, and Corporate Underwriting.
This position assists the Manager of Product Development and Compliance in developing, maintaining, and reviewing bureau coverage forms and endorsements to provide Specialty Lines business units with access to quality policy language and products.
Pay Range: Actual compensation decision relies on the consideration of internal equity, candidate’s skills and professional experience, geographic location, market, and other potential factors. It is not standard practice for an offer to be at or near the top of the range, and therefore a reasonable estimate for this role is between $56,700 and $94,900.
Responsibilities
Coordinating the Product Development process for Specialty Lines, including reviewing current policy forms and endorsements to analyze and identify unforeseen or unanticipated liabilities.
Reviewing forms for new products to identify gaps and limitations in proposed policy language.
Researching legal and statutory requirements by state for new and existing products.
Maintaining the historical record of Specialty Lines forms and collaborating with Corporate Underwriting to update and maintain the AF Group Forms Library for Specialty Lines.
Collaborating with Underwriting and Claims to ensure consistency in policy language and claim‑handling, including working with Claims to ensure underwriters are apprised of potential liabilities and emerging claim and legal trends.
Preparing draft forms and revisions for existing products and exposures for presentation to Leadership.
Communicating the publication of new or updated policy forms and endorsements to floor underwriters.
Coordinating Underwriting compliance for all Specialty Lines, including responding to the states regarding Underwriting and Compliance complaints.
Reviewing bulletins and circulars from trade organizations and the states to assess applicability to Specialty Lines products and processes and referring as necessary.
Keeping abreast of external industry developments, including legislative and judicial arenas; reviewing ISO, AAIS, and other bureau‑driven circulars and products, and referring recommended changes to Management.
Reviewing recommended form and product changes to align with Specialty Lines strategic direction, recommend implementation options, and lead prioritization of coverage enhancements across the Division.
Preparing, monitoring, drafting, and obtaining regulatory approval of rates, rules, and forms utilized by admitted products within Specialty Lines.
With Management, developing responses to objections to admitted products within Specialty Lines.
Requirements Education and Experience
Bachelor’s degree required. CPCU or ARM preferred.
Three (3) to five (5) years of experience in P&C Underwriting, Product Management, or Product Development required.
Skills and Knowledge
Extensive knowledge of insurance and underwriting environment across all lines of business (Casualty / Property – Admitted / Non‑Admitted – Assigned Risk).
Ability to analyze and synthesize information for broad consumption.
Technical acumen and ability to command technical content for various audiences.
Effective communication, both verbal and written, including active listening skills.
Ability to work effectively in a team environment and independently.
Strong organizational, planning, and writing skills.
Other Information
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this role.
Work is performed in an office with minimal hazards. Travel may be required, with occasional overnight stays. Ability to lift and carry computer equipment up to 35 lbs. Driver’s license required.
Note: This job description does not constitute a contract for employment.
#J-18808-Ljbffr