Senior Product Rating Analyst — Insurance Rate Strategy

Job Category

Product

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment.

As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

$81,500.00 - $

1

The Product Rating team collaborates with business units across personal or commercial insurance on all variables associated with premiums to achieve financial and strategic objectives at the national and the state/province level. The responsibilities of the team include leveraging and maintaining business-controlled rating engine/technologies, designing and implementing rate structures, updating product configuration rules, ensuring adherence of rating practices to regulatory and filing requirements, and resolving issues that may arise.

As a Sr Analyst, Product Rating you will support the comprehensive examinations of business requirements and rate structure changes through working knowledge of current industry trends and techniques, and you may assist in mentoring less experienced members of the team. You will also verify alignment and coherence among various requirements within a project to maintain the integrity and reliability of product ratings.

• Conduct thorough analysis and contribute to business requirements, including rate filings and related documentation to ensure alignment with strategic objectives and regulatory standards. May coach less experienced members of the team through this analysis.
• Design and implement structure changes to new and existing products and build rate pages for rate manuals.
• Determine testing scope, perform unit testing, and validate modifications to adhere to best practices and business unit filing and regulatory requirements. Triage and resolve issues that arise during subsequent testing phases.
• Ensure optimal functionality and accuracy of product configuration rules, rate factors within existing rating tables, and recommend enhancements and efficiencies to other business owned rating technologies.
• Develop effective relationships with business partners such as actuarial to provide insightful consultation on the development of rating business and worksheet requirements.
• Identify the root cause of rating discrepancies and perform analysis to rectify the issue.
• Perform other duties as assigned.

• Bachelor's degree in a related field.
• 3+ years of experience in programming, configuration, development, or related functional domains (e.g., product, actuarial, regulatory, or rating).
• Hands-on experience using Earnix Price-It and/or Ratabase Product Builder software.
• Skilled in writing and optimizing Excel formulas with accurate syntax and logic.
• Proficiency with Python programming.
• Basic understanding of JSON format and how to read, write, and manipulate JSON data.
• Solid understanding of commercial property casualty insurance products.
• Effective verbal and written communication skills to collaborate with team members and business partners.
• Strong critical thinking and analysis skills to address rating challenges and develop solutions.

• Bachelor's degree in computer science or a related field, or equivalent combination of education and work experience.
• Two or more years of programming, development, product, or rating experience.

• Health Insurance
  :
  Employees and their eligible family members - including spouses, domestic partners, and children - are eligible for coverage from the first day of employment.
• Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make…