Product & Pricing Analyst
based downtown Toronto
Insurance Experience is a Must
The Product and Pricing Analyst conducts qualitative and quantitative data analysis to assist in pricing and rating new and existing products, as well as in identifying new business opportunities, in order to facilitate the Company planning process. In partnership with the Head Office Underwriting team, the Product and Pricing Analyst contributes to challenging projects to ensure the profitable management and competitiveness of the company's insurance products. Reporting to the Manager, Underwriting, this role is located at our Head Office in downtown Toronto and is ideal for an innovative thinker with a problem solving mindset, who is eager to learn.
• Analyze rate adequacy, including loss and premium trends, production of rate indicators and development of rating structures using actuarial models;
• Assess risks to determine the appropriate price, coverage and terms and conditions, as well as taking policy to completion with recommending and binding coverage, invoicing and policy issuance;
• Prepare monthly, quarterly and annual internal risk and underwriting reports;
• Evaluate product line reports regarding status, profitability, renewal projections and rates
• Review pricing and rating administration of new product portfolios’ historical performance as well as support the identification and quantification of underwriting actions;
• Provide recommendations on changes to products, pricing and risk management to contribute to growth and profitability of new products;
• Work with portfolio and third party data sources to derive value added business insights;
• Design automated reports for data retrieval and analysis as needed;
• Utilize best practices and innovative statistical/modeling techniques to develop and maintain rating, economic and other models as necessary and in consideration of the business goals;
• Contribute to the development of strategies and materials to support new programs, processes, products and solicit inputs from stakeholders;
• Apply pricing components and rating methodology to price business based on thorough analysis, risk characteristics, statistical analysis and competitive analysis;
• Collaborate with internal teams such as Finance, Operation and Claims to optimize analytical and supporting system and process performance;
• Drive and deliver on existing projects, and participate in additional complex projects as needed.
• Bachelor’s Degree in Business Administration, Mathematics, Statistics or Actuary;
• 3-5 years of experience with the ability to compile, analyze, present and interpret financial and statistical information from multiple sources to facilitate decision making;
• Insurance analytics experience including a strong understanding of earned premium, incurred claims, loss development, and deriving loss costs; P&C personal lines experience preferred, or commercial lines;
• Advanced capabilities in computer application software, knowledge of databases, analytics tools, and experience with data cubes;
• Organizational and time management skills to prioritize workloads and multiple projects and meet time sensitive deadlines with high degree of accuracy;
• Excellent written and verbal communication skills;
• Strong team player able to contribute in a collaborative environment.
If interested in this opportunity please contact Antonella Leone via email at email@example.com or call at 416-868-6711 x 226.