Insurance Product Analyst

Insurance Product Analyst
£36,000 – £42,000 per annum plus bonus and benefits
Croydon, Surrey

Overview of role
To ensure the accurate and timely set up and maintenance of Motor Assistance, Warranty, Tyre and Cosmetic Insurance products within the product engine (primarily Prime Entity and other legacy systems) using existing processes.
Updating the in house system product engine (prime entity) with all the insurance or warranty product information of various schemes. This information includes all policy details, how fees are calculated and what the policy entitles the user to be covered for.

Main Duties
To ensure that all products are set up and tested within deadlines, in Prime Entity (PE), Finance and legacy systems, following the PE procedure guide and notifying the business of product set up when complete
To liaise with I.T. Department, Account Managers and Finance Department to collate product, policy wording and pricing information for product set up, ensuring products are functional for Operational and Financial systems
To liaise with I.T. Database Administrators (DBA) Team and Testing Team to prepare and deploy Prime Entity data cut to Test systems, including the production and issuing of PE Release notes
To maintain written procedures regarding the Prime Entity tools, product set up and processes including the production of Product Specification diagrams
To provide input and assist the Project Manager with implementation of new schemes and/or lines of business, including attending meetings with stakeholders and other parts of the business
To maintain documented record of changes applied to Prime Entity database within Access database
To regularly reconcile PE product database with the Legacy system and the warranty administration system using reports provided, to ensure policies are being migrated correctly and product and/or policy issues are identified and resolved where necessary
To continue to work with Prime Entity Inc and the Product Manager to improve the tools and product processes currently used
To maintain the SharePoint site “Product Design” to allow other parts of the business get an overview of how Prime Entity works and how products are created and managed

Essential Requirements
Educated to ‘A’ level standard or equivalent
Knowledge of insurance policy terms, products and structures
An ability to understand insurance cover information / pricing and convert it into a structured format for system input
Good commercial awareness with a ‘customer service’ mindset
Logical, methodical and able to understand/execute a process from start to finish
Strongly numerate, able to interpret data and draw conclusions from information supplied
Able to work under pressure to meet strict deadlines
A good working knowledge of Word, PowerPoint and Intermediate/Advanced Excel and Access skills

Desirable Requirements
Graduate level education Maths/or related degree
Assistance/warranty/insurance administration knowledge
/experience of insurance product modelling

Additional Information
This position offers benefits package plus £2k incremental increase after completion of 6 months probation and a £3k bonus paid annually.

PRC Employment are acting as an Employment Agency in relation to this vacancy. We receive high volume of CV’s and will only contact you if your application is successful. We do not discriminate on grounds of Disability, Race, Age, Gender, Creed or Sexual Orientation and comply with all relevant UK legislation.