Business Analyst

Business AnalystAt WaterStreet, we believe in finding superior people to work with, and keeping them with us by offering more-than-competitive benefits and chances for development — all centered in a spectacularly scenic stretch of the American heartland making it an outdoor lovers paradise. Just outside our backdoor we have access to Glacier National Park, Whitefish Mountain Resort, and several lakes including Flathead Lake, the largest natural lake west of the Mississippi River.WaterStreet team members have strong incentives for continuous professional improvement. First, it's the only way to keep up with the insurance industry's rapid evolution. Second, there are immediate rewards, like cash bonuses for completion of training, as well as the potential for pay increases at annual reviews. Increases in pay and promotional opportunities are in your hands.The Business Analyst works closely with insurance clients and internal teams to understand, define, document, and validate the requirements necessary to implement insurance products. This role requires a strong understanding of Property & Casualty insurance and the ability to translate rating plans, underwriting rules, policy documents, declarations, and forms into clear and complete business requirements.Essential Job FunctionsLead requirements gathering sessions with clients, underwriting, product, operations, and other insurance stakeholders.Gather, analyze, document, and validate insurance product requirements from source materials and stakeholder discussions.Identify gaps, inconsistencies, exceptions, and unanswered questions and drive requirements to resolution.Distinguish stated requests from the underlying insurance business requirement and document decisions, assumptions, and dependencies.Manage requirements through client review and approval while supporting multiple products and initiatives.Primary Insurance RequirementsRating: Define rating variables, factors, tables and calculations; premium calculations; credits, debits, discounts and surcharges; taxes, fees and assessments; minimum premiums; and state/product-specific rating requirements.Business Rules: Define eligibility and underwriting rules, referrals and approvals, required information and validations, coverage availability and dependencies, limits and deductibles, transaction rules, and state-specific exceptions. Detailed analytical abilitiesPolicy Documents: Define requirements for quotes, applications, binders, notices, renewal and cancellation documents, and other policy lifecycle correspondence, including when documents are produced and the information they contain.Declarations & Forms: Define declarations, coverage schedules, policy forms and endorsements, form selection and attachment rules, state-specific forms, edition/effective dates, and conditional requirements based on coverage, risk, or underwriting information.Preferred Knowledge and SkillsStrong understanding of Property & Casualty insurance products and the policy lifecycle.Knowledge of insurance rating, underwriting, coverages, policy forms, endorsements, and policy transactions.Ability to interpret rating manuals, underwriting guidelines, forms, product documentation, and related insurance materials.Strong analytical skills with exceptional attention to detail and the ability to organize complex rules into clear requirements.Strong facilitation, written communication, client-facing, organization, and time-management skills.Education and ExperienceExperience in Property & Casualty insurance strongly preferred.Experience as a Business Analyst, Product Analyst, Underwriter, Product Manager, or similar insurance role preferred.Experience defining, implementing, or supporting insurance products preferred.Bachelor's degree or equivalent combination of education and relevant insurance industry experience.