Junior Business Analyst - Insurance
About The Institutes
A not-for-profit organization located in beautiful Malvern, PA, The Institutes have been the leading provider of risk management and property-casualty insurance education for more than 100 years. By living our values—Put the Customer First, Do What You Say, Work Together, Be Innovative and Do the Right Thing— our talented team delivers innovative solutions that best empower risk and insurance professionals to help those in need. In 2022, The Institutes were named a Top Workplace by Philly.com for the seventh time. We understand the importance of work-life balance and provide excellent benefits and a friendly and team-focused work environment to drive employee engagement.
Junior Business Analyst - Insurance
We have an exciting opportunity to join our RiskStream Collaborative team! In this entry-level role, you’ll assist in the development of products by providing risk management and insurance insight for product exploration; conducting insurance-related market research; collaborating with working groups and documenting product requirements; reviewing technical specifications; planning and driving production timelines; determining pricing; planning for product introduction and developing marketing strategies. If you’re eager to join a collaborative and innovative team, we would love to meet you!
What You’ll Do:
- Maintain a holistic viewpoint across all use cases and products. Lead and /or participates in working groups and works with stakeholders to determine customers' needs. Work with Junior Business Analyst - Research to identify related market information to create formal analyses and identify areas for improvement.
- Effectively communicate with key stakeholders influencing them to support proposed strategies, process improvements and operational decisions.
- Maintain documentation regarding various projects, processes and operations.
- Provide insight into how insurance companies and processes work for Product Management team in support of designing and developing use cases; answer questions and requests.
- Assess insurance sector factors by comparing the RiskStream products and roadmap with industry trends and direction
- Provide industry knowledge via research reports on various sectors of RiskStream product exploration.
- Recommend the nature and scope of present and future product lines by reviewing product specifications and requirements; reviewing new product ideas and/or product or packaging changes based on a study of industry and ecosystem trends
- Provide source data for product line communications by providing insurance industry elated insight in support of product marketing communication objectives.
- Work with Director of Personal Lines Products, Product Management Team, VP of RiskStream to develop product sales strategies that align with industry norms
- Collaborate with working groups, key technical partner(s), VP of RiskStream and Director of Personal Lines Products to understand capacity and report on potential product availability by reviewing and analyzing budget and production schedules.
- Introduce and market new products by developing time-integrated plans with operations, marketing, and technical providers.
- Report to VP of RiskStream and Product Management team to present market research data and collaboratively decide on product direction; understand customer roadmaps and anticipate revenue.
We’re looking for someone with:
- Bachelor’s degree required.
- Experience and/or working knowledge of the risk management or insurance industry is required.
- Demonstrated ability to understand business problems within the risk management and insurance space and provide detailed research, analysis and perspective to resolve issues.
- Demonstrated initiative and ability to advance projects and multi-task in a fast-paced environment with competing priorities
- Strong program management skills and the ability to influence and instill credibility in sponsors and peers by meeting project milestones, deadlines and budget.
- Experience working with Agile software development process.
- Must be proficient in Microsoft Office 365 (Word, PowerPoint, Excel, Outlook, SharePoint, Teams, etc.) and Visio required.
- Excellent oral and written communication, and problem solving skills
Visa sponsorship is not available for this position. Applicants must be legally authorized to work without requiring sponsorship for employment visa status, now or anytime in the future.
The Best Part? The Benefits!
To enforce the importance of work-life balance, employees enjoy excellent benefits, including:
- 401(k) plan with company contribution up to 16%
- Generous time off package that includes paid vacation, personal, sick and holidays
- Paid maternity and parental leave
- Tuition reimbursement
- Medical, dental, vision and prescription coverage
- On our Malvern campus: Free lunch every day when working on campus, onsite fitness center, and a beautiful 1.25 mile walking path!
Role is hybrid with at least two days each week in the office. Candidates should be able to commute to Malvern, PA at least two days per week.