Product Management Analyst

Product Management Analyst

Safety Insurance Main Office - Boston, MA 02110

Overview

Salary Range $66,000.00 - $90,000.00 Salary Level Experienced Position Type Full Time Job Shift Day Education Level Bachelor's Degree Travel Percentage None Category Insurance

Benefits of Working for Safety

Safety Insurance is proud to be one of the leading property and casualty insurance providers in Massachusetts. We are committed to supporting independent agents and their customers through our unwavering dedication to excellence. Our success is built on a simple philosophy: deliver the highest quality insurance products at competitive rates while providing exceptional service at every step.

At Safety Insurance, we don't just offer jobs – we offer careers that are challenging, fulfilling, and designed to grow with you.

Our people are our greatest asset. A diverse workforce makes us stronger, more innovative, and better equipped to serve our customers. At Safety, we empower our employees to be their best by fostering an inclusive environment and offering resources that support their careers, education, and families. We also understand the importance of work-life balance. That's why we offer hybrid work options, flexible schedules, and a 37.5-hour workweek. Conveniently located in the heart of Boston's financial district, our downtown office is a positive space where employees can stay connected to both each other and the pulse of the city.

Safety's benefits go beyond the basics. In addition to competitive salaries, our comprehensive benefits package includes:

• Medical, vision, and dental insurance
• 3 weeks accrued PTO
• 100% matching 401(k) retirement plan
• 100% tuition reimbursement
• Free on-site fitness center
• Complimentary coffee and breakfast service
• …and much more!

Job Summary

The Product Analyst is responsible for supporting the development, management, and profitability of Safety's insurance products. This role will work closely with the MIS, Underwriting, Actuarial, Marketing, and Claims departments to oversee filing projects from the research phase through implementation. The Product Analyst will research and analyze competitive market trends, regulatory requirements, product performance, and agent/customer needs to identify opportunities for product enhancements and profitable growth. This role has the unique opportunity to drive pricing and non-pricing decisions through strategic product initiatives.

Duties:

• Conduct research on competitor products, pricing structures, underwriting guidelines, coverage offerings, and market positioning; assess opportunities and potential risks
• Monitor industry developments, emerging risks, and market trends and be aware of legislative changes

Regulatory Filings & Compliance

• Prepare and manage rate, rule and form filings with state insurance departments
• Correspond with the insurance departments as necessary, and respond to filing objections

Product Management Collaboration

• Maintain knowledge of products offered in MA, NH, and ME, and understand the markets in each state
• Analyze research and formulate recommendations for both new products and enhancements to existing products
• Assist with the design, implementation, and maintenance of products, coverages, endorsements, forms and underwriting rules
• Support testing and implementation of system enhancements related to products changes
• Track filing project key dates to ensure product and rate changes are implemented on time
• Track product performance data and translate into actionable insights for product improvement
• Partner with underwriting and operations teams to identify potential vendor solutions, manage testing and validation of new tools and services, assess potential business benefits, and develop recommendations to support underwriting strategy and performance

Collaboration

• Participate in all rate and product filing project meetings, as well as strategy/pricing meetings and present product recommendations to upper management
• Work closely with the MIS and Actuarial teams to communicate business requirements and implement rate and product filing changes

Qualifications:

Required Qualifications

• Bachelor's degree in Business, Finance, Economics, Data Analytics, or a related field
• Advanced proficiency in Microsoft Excel and data analysis techniques
• 5+ years in the Property & Casualty insurance industry with prior experience in underwriting, claims, product development, or an analytical role
• Proficiency in research and analysis
• Strong organizations, problem-solving, and analytical abilities
• Excellent written, verbal, and presentation skills

Preferred Qualifications:

• Prior project management experience
• Experience with data analytics tools, including familiarity with SQL or PowerBI
• Work closely with the MIS and Actuarial teams to communicate business requirements and implement rate and product filing changes