Life Insurance Product Services Analyst: Quotes & Illustrations

Join Modern Woodmen's Actuarial Services team as a Product Services Analyst and help shape the accuracy and integrity of our financial products. In this detail-driven and member-focused role, you'll support the administration of life insurance and annuity products by analyzing and testing values, formulas, and system functionality. You'll also prepare customized quotes and illustrations for financial representatives nationwide, ensuring clarity and precision in the information we provide to our members.

This is a great opportunity to contribute to a team that values analytical rigor, cross-department collaboration, and service excellence.

Modern Woodmen of America is one of the nation's largest fraternal benefit societies, with over $18 billion in assets. Fraternals are unique membership organizations that pair the member-owned characteristic of a mutual insurance company with the social mission characteristic of a service organization. They unite individuals with common bonds, provide a variety of life insurance and investment products, and form one of the nation's most effective volunteer networks.

• Ensure the accuracy of certificate rates and values across administrative and sales support systems by analyzing data and implementing necessary corrections.
• Investigate and resolve discrepancies identified in periodic error reports, maintaining integrity in member records.
• Respond to inquiries from internal departments regarding product values and assess requests for database updates.
• Generate customized quotes and illustrations for all Modern Woodmen product lines, serving members, financial representatives, and internal departments.
• Partner with actuarial staff to test and validate values, procedures, and forms for both new and existing products and systems.
• Support cross-departmental efforts to address member complaints or legal adjustments by researching, evaluating, and recommending solutions related to product rates and values.
• Contribute to the documentation of product calculations and actuarial factors to support reference needs and disaster recovery planning.
• Administer the organization’s reinsurance programs, including maintaining records, calculating premiums, assisting with claims, and reconciling reports.

• Bachelor’s degree preferred.
• 2+ years related insurance industry experience preferred.
• Strong aptitude for logic, math, and detail analysis.
• Excellent interpersonal, written and verbal communication skills.
• Organize and prioritize daily tasks to work both independently and with a team.
• Basic knowledge of Microsoft Outlook, Word, Excel, PowerPoint, Teams, and other computer-based programs.

• Pay: The hourly pay for this position is $24.00. The specific rate will depend on the successful candidate’s qualifications and prior experience.
• Work Arrangements: This is a full-time hybrid, hourly position: 37.5 hours per week (7.5 hours per day), Monday through Friday, with flexible start time between 7 a.m. and 9 a.m. Hybrid positions work at least four days in office each week. Employees beginning a new hybrid role will be asked to work on-site (five days a week) during the initial training period, which may be up to one year.
  
  Hybrid work arrangements are subject to change at any time based on business needs.
• Stability: Modern Woodmen has been Modern Since 1883 and exists for our members. We make long-term decisions that provide stability for our employees, financial representatives, and members.
• Respect for personal time: We offer vacation, sick leave, and 11 paid holidays. We value your time outside of work and offer careers that blend work and life well.
• Professional growth: Benefit from our commitment to employee development which includes educational offerings to enhance your knowledge of our industry.
• Great culture: We build strong working relationships across our organization through collaborative work and volunteer opportunities.
• A beautiful office: Enjoy a beautiful view! Our home office, located in downtown Rock Island, IL, has a lovely plaza overlooking the Mississippi River.
• On-site Café: Our employees can purchase a variety of breakfast, lunch, and beverage…