C.L. Product Development Analyst - Hybrid

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Additional Information

NJM Insurance Group, is a leading mid-sized U.S. property and casualty insurance company with 90 consecutive years of A+ financial strength ratings by AM BEST. Due to exceptional employee experience, NJM has been included on the latest Forbes List of Best Employers in New Jersey for the fourth year in a row. The NJM reputation for being a top provider of outstanding customer service was reaffirmed by the most recent J.D. Power Auto Insurance Claims Survey. Over the last five years, the Company has focused on a strategic plan that calls for it to become a regional property & casualty insurer and has transitioned away from its affinity-based membership model. To that end, the Company has added an independent agency model for new lines of middle and large commercial and has more than doubled its product offerings. NJM now offers its various products to businesses across New Jersey, Pennsylvania, New York, Maryland, Delaware, and Connecticut. Celebrating its 110-year anniversary in June 2023, NJM's focus on policyholders stands at the center of its values. Its mission is to provide value-based insurance solutions to policyholders while maintaining the highest levels of service, integrity, and financial stewardship. NJM's Commercial Lines department conducts business for policyholders and preferred agencies within the Mid-Atlantic region, specifically NJ, PA, NY, MD, DE, CT. Products include Commercial Auto, G/L, Workers Comp, BOP, Excess/Umbrella, and Package. The Commercial Lines function encompasses Underwriting, Sales, Operations, Premium Audit, Product Management, Product Development, Loss Prevention and Business Process Unit. The Product Analyst is a member of the Commercial Lines Product Development department ( this can be filled at the associate, analyst or senior level). This role, through direction from the Product Development Director, designs, develops and implements insurance products through state product filings in support of the growth and/or product initiatives set forth by the organization. The role also serves a subject matter expert for the assigned line(s) of business when interacting with various departments. Essential Duties and Responsibilities: Essential functions of this job are listed below in order of priority. Reasonable accommodations may be made to enable individuals to perform the essential duties. Regular and predictable onsite attendance is an essential function of the job. Product Maintenance - Forms Development and Maintenance - This role involves revising, creating or withdrawing NJM proprietary forms, as needed. This role is assigned according to LOB responsibility and includes the entire form lifecycle - creation, review (GC Legal / Law and Reg.), development of the filing materials (explanatory memo, revised forms with tracked changes), submission to the state via SERFF; submission to IT for sizing and programming, and providing support during system implementation. This role also involves ISO monitoring, and overlaying ISO changes into applicable NJM forms, rules, etc Product Support - Operations, Underwriting, Sales, Marketing Support - This responsibility involves answering line of business related questions from operations, underwriting, sales, marketing or other areas, and providing a response after researching the question. This role involves acting as a subject matter expert (SME) for the assigned line of business, and acting as a resource to the other areas of Commercial Lines. This role includes ISO / NCCI circular review. Competitive Research and Analysis This responsibility involves researching information for various parties relating to competitive filings for forms, rules and rates, aggregating the information, and providing a breakdown back to the party that requested the information. This role will involve extensive research in SERFF, NAIC, Competiscan, and any other applicable research sites. This information might be requested by underwriting, sales, marketing, or management, to review market trends of particular products before developing our own. This role also includes review of upcoming product revisions to ISO products, and suggesting revisions to NJM products for enhancement to remain competitive. Mission, Vision, and Values - Exhibits behaviors that are aligned with NJM's Mission, Vision and Values. Maintains the highest level of service, integrity and financial stewardship. Fosters teamwork and collaboration. Holds self and others accountable for actions. Proactively seeks development opportunities. Looks for business process improvements to maximize effectiveness of operations and minimize cost. Required Qualifications: Bachelor's degree. Minimum of 6 years of experience in the P&C Insurance industry and/or the product development field; or equivalent combination of education and experience. Strong analytical and quantitative skills. Strong industry knowledge, including commercial lines marketing, pricing and product philosophies. Collaborat

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