Note: The job is a remote job and is open to candidates in USA. Pan-American Life Insurance Group (PALIG) is seeking a Senior Product Development Analyst to support the term life insurance line of business in various markets and companies within the individual life division. This role involves supporting all functions related to product development and pricing efforts, analyzing data, creating management reports, and providing product support to various areas in the company.
Responsibilities
- Track competitor products, pricing, marketing campaigns, and producer feedback
- Gather, organize, and analyze product and market information from diverse sources to present findings to management
- Analyze search trends and keyword performance to understand competitor traffic drivers
- Vital link between the sales team, actuarial and other internal departments (marketing, operations)
- Support execution of sales strategies
- Support product development efforts, including designing product features that match market needs and creating product specifications
- Support product pricing, including analyzing experience to develop pricing/actuarial assumptions and assisting in the calculations of profitability results and completion of pricing memos
- Compare products and pricing to other products in various markets/companies and present findings
- Review, calculate, or document all required product rates
- Query data and provide regularly scheduled and ad-hoc reports as needed
- Monitor policy activity through reports and provide feedback
- Research any report irregularities or experience trends
- Work to improve efficiency of reporting
- Assist in product or product update implementations on administration and illustration systems, surround systems, within materials, or processes
- Review or develop calculation tools, technical specifications, references, or documentation for system testing
- Conduct testing and help to resolve calculation issues
- Review and/or translate policy forms and all supporting documents and responses required for regulatory filings
- Develop and manage training and product documentation for relevant teams in both English and/or Spanish
- Conducting product training sessions
- Support all tasks necessary for product launches or production changes
- Participate in the special case review process for term policies
- Provide special illustrations or quotes as requested and approved
- Provide in force product and policy support to the operations team as requested
- Support sales, operations, legal, and other company teams by answering questions and solving problems related to products or policies
- Conduct product training sessions
- Translate documents or communications, or review translated documents for accuracy
- Actively participate in projects or tasks as assigned
- Stay up to date with training and company-assigned tasks
- Expand overall business and product knowledge via work assignments and review meetings
Skills
- 5+ years of related experience in product development or life insurance
- Bachelor's degree in a quantitative field, such as Actuarial Science, Mathematics, Statistics, Computer Science, Business or Economics. Or an additional 4 years' related experience in lieu of a degree
- Excellent oral and written communication skills in both English and Spanish
- Proficiency in MS Office (Excel, Word, PowerPoint, Access) and SQL
- Strong multitasking abilities, attention to detail, and problem-solving skills
- Credit for Actuarial Exams is a plus
Benefits
- Competitive compensation package (base salary & bonus)
- Comprehensive benefits, including medical, dental, 401(k), paid time off, and tuition reimbursement
- Medical and dental coverage effective the first of the month following 30 days of service
- Hybrid work opportunities
Company Overview