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Small Commercial State Management Analyst
The Hanover Insurance Group
Worcester, MA, United States
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Our Small Commercial Lines department is seeking a State Management Analyst to join our growing team in Worcester, MA.
Position summary:
The Small Commercial Analyst collaborates with State Manager, RVPs & Territory Sales and Underwriting Managers to provide business reporting and base line analysis and recommendations at Market, Industry and Distribution level. The individual focus is on driving SC business results based on SC Playbook initiatives as established by State Manager and regional SC Leadership. Analyst will identify trends and interpret in order to make recommendations and develop strategies and work with field and business partners to drive profitable growth and improved profitability of existing book, across all Small Commercial lines of business.
This is a Full-time, Exempt role.
Responsibilities/Essential Functions:
•Partner with State Manager and Leadership to develop, implement and monitor state-specific strategies to meet or exceed profit and growth targets
•Conducts complex analytical projects to evaluate product growth and profitability for Small Commercial lines.
•Review book performance data monthly, working with State Manager, and identify root causes for variance and emerging trends on mix, production, etc.
•Communicate findings and make recommendations to State Manager and Regional SC leadership in order to adjust strategies and tactics to address adverse trends and improve profitability over the long-term
•Develop plans to implement and monitor recommended strategies and tactics, collaborating with colleagues to ensure acceptance and feasibility of recommended
•Monitor the implementation and success of initiatives within Small Commercial; make adjustments as necessary
•Continually assess environmental, market/competition and legislative/regulatory climate to inform analysis and recommendations
•Analyze key competitors’ product features, compare to company’s current product offering, develop and maintain product comparison, identify opportunities/threats, make recommendations to State Manager/ Leadership
•Analyzes blocks of business across geography, agency, time and characteristics.
•Participate in underwriting audits for specific books of business and interpret corresponding results to inform underwriting strategy changes to improve results
•Develops tools for underwriting units to ensure that underwriter execution aligns with strategic priorities and initiatives.
•Actively participate in, and sometimes lead, cross-functional projects
•Become comfortable with company data structure and definitions; Understand the relationship between the business issues and the available data
•In conjunction with State Managers within assigned territory, achieves the annual SC plan for loss ratio, premium, new business, profile improvement and renewal retention.
Position Requirements:
•Bachelor’s Degree preferred or equivalent relevant work experience
•4+ years of Analyst experience
•Underwriting knowledge a plus
•Strong analytic and problem solving skills
•Small Commercial Lines Insurance industry knowledge
•Obtain proficiency in the various software applications required to perform daily work
•Advanced Excel, Access and PowerPoint skills
•Effective communication, presentation and interpersonal skills
•Able to manage priorities, work independently, and seek guidance when needed
•Ability to manage initiatives from start to finish
•Strong collaboration skills to accomplish results without formal authority
•Knows how to get things accomplished through formal organizational channels and through informal networks
•Practically applies technical expertise to real business issues.
EEO statement:
“The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.
Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.”
As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. If you require a reasonable accommodation, as a candidate for employment, please inform The Hanover Talent Acquisition office.