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The Field Product Management Office (FPMO) makes business decisions for a line of insurance or defined marketplace which appropriately consider product, pricing and risk management levers. They evaluate the opportunities and challenges in the marketplace and build strategies to address them while ensuring integration with other business units to achieve growth and profitability objectives.
The key responsibilities of the Product Management Analyst are:
Collaborates with Internal and External Stakeholders to Execute Processes and Projects Aligned to Business Strategies
- Assists with or leads assigned projects
- Tracks own plan performance and project plan or timeline
- Ensures project controls are in place throughout the lifecycle of the project on individually assigned tasks
- Actively participates in building strong relationships among teams and team members to ensure cooperation on project objectives
Participates in the Development and Execution of Strategies and Plans
- With direction and support, conducts routine analysis of the marketplace, competitive position and business results and can articulate findings that support the development the local market operating committee/Line strategies and plans to ensure business objectives are being achieved.
- Participates in the integration and delivery of planned changes/project/products in the region with Sales leadership
- Assures proper execution of regulatory/ legislative practices for Product Management
- Understands internal and external compliance requirements/standards and recommends adjustments to strategies as needed
Builds expertise on Product, Price and Risk Management Policy and Processes and Competitor Intelligence Tools and Resources
- Develops basic working knowledge of all Allstate personal lines product, price and risk management policy and processes and competitor intelligence tools and resources (including basic knowledge of underwriting systems and technologies)
- With direction, understands local market (business results, marketplace realities, regulatory environment and competitor actions etc…) and how it may impact home office strategies and deliverables
- May conduct analyses of product, price, risk management policy and processes
- May conduct analyses of Competitors using internal tools and resources
Participates in the Development and Delivery of Product Management Education to Key Stakeholders
- As directed, participate in the development of a strategy to address sales education needs for existing product lines and build necessary materials to achieve education objectives
- Participate in the development of an education strategy and materials regarding the implementation of a new product, price or risk management policy or process.
- Support the delivery of effective education to designated trainers
Participates in the Development and Delivery of Communication Strategies for Product Management Deliverables
- With direction, demonstrates understanding of market specific implications of business strategies to market operating committee and Home Office
- With direction, communicates findings from routine analyses (e.g., competitor analysis, risk management, financial)
- Participate in the development of a strategy to address sales communication needs for existing product lines
- Participate in the development of a communication strategy and materials to support the implementation of a new product, price or risk management policy or process
This position is with the Field Product Management Team in the Northeast Region. The purpose of the department is to support and drive profitable growth and increase market share in the Northeast Region. This is driven through specific price/product/risk management initiatives, market intelligence, local market planning, and policy adherence. The scope of this position is to support margin management analysis through the monitoring and communication of key profitability measures by line and quality. The candidate will be responsible for root cause analysis, development of strategies, execution and communication of these results using all available tools and resources.
- Assess quality, loss and premium factors across lines of business against expected and desired outcomes.
- With direction, applies business and technical skills to analyze key performance indicators and make recommendations to drive profitable growth.
- Provide consultative guidance and recommendations to clients in home office, regional departments and sales related to business decisions.
- Provides observations on basic trend analysis (e.g., competitor analysis, risk management, financial).
- Conducts appropriate analyses for projects and makes recommendations to achieve corporate goals.
- Analyze data and review analysis from others and identify and resolve basic data issues.
- Develops working knowledge of all Allstate personal lines product, price and risk management policy.
- Participate in the development of an education strategy and materials regarding the implementation of a new product, price or risk management policy or process of low to moderate complexity.
- With direction plans, implements, manages, and/or contributes on projects that are low to moderate complexity and are small to moderate scale using accepted project management standards.
- Achieve firm project implementation timeframes and standard documentation procedures to ensure delivery of a quality product and achieve speed to market.
- Actively participates in building strong relationships among teams and team members in sales, pricing, claims, finance, risk management, and others to ensure cooperation on project objectives.
- Learns standard market specific implications of business strategies
- Learns and adheres to proper execution of regulatory/legislative practices for Product Management
- Learns and adheres to the internal and external compliance requirements/standards
- Bachelor's degree in Mathematics, Finance, Economics, Risk Management, or related curriculum
- 0-2 years of experience working with business analytics preferred
- Possesses ability to manipulate and analyze data to draw appropriate conclusions
- Proficiency in Microsoft applications, including Excel, SQL, Visual Basic, Access, Word, and PowerPoint and/or other modern data analysis systems
- Attention to detail with the ability to spot inconsistencies and troubleshoot potential issues
- High level organizational and project management skills in order to handle multiple concurrent assignments in a timely manner and to monitor processes throughout a team or department
- Strong written and verbal communication skills including the ability to effectively collaborate with multi-disciplinary groups and all organizational levels
- Ability to manage relationships in a fast paced environment, while demonstrating persistence and problem solving skills.
- Professionalism, positive attitude, and the ability to work well with diverse perspectives are keys to success in this position.
- Strong decision making skills
- Works effectively in a team environment
The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.
Good Work. Good Life. Good Hands®.
As a Fortune 100 company and industry leader, we provide a competitive salary – but that's just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you'll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.
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Allstate generally does not sponsor individuals for employment-based visas for this position.
Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.
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