Title: Product Development Analyst
Location: Hybrid - 3 days/week in one of our St. Petersburg, FL, office location.
Company Overview:
At Vault, we are not just insuring assets. We are reducing risks with data-driven technology to Protect What Matters Most to our customers.
Our team is driven by a shared commitment to protect customers’ most prized possessions. We look at the bigger picture to provide custom solutions, exceptional service, and risk management to protect their legacy proactively.
Are you thinking about joining our team? We look for self-motivated and inventive individuals who are dedicated to providing the highest level of service to our customers and partners.
Why Choose Vault:
- 46% of our workforce was referred by someone at Vault.
- 37% growth rate in staff since December 2021
- Our Financial Strength is rated an A- by AM Best.
- Rated 4.5 stars based on our customer experience reviews
- Our leaders are respected innovators with decades of insurance expertise.
- Vault’s proprietary technology allows for enhanced capabilities, speed, and efficiency.
- Leading high-net-worth insurance provider with a foundation in customized solutions
- Comprehensive benefits tailored to your lifestyle
Job Responsibilities:
- Conduct market research to identify opportunities for new products and enhancements to existing offerings.
- Analyze data related to customer preferences, market trends, and competitive products.
- Collaborate with product managers, marketing teams, and engineers to develop product specifications and requirements.
- Support the product development process, including prototyping, testing, and validation.
- Monitor and report on product performance post-launch, providing insights and recommendations for improvements.
- Assist in the preparation of product documentation, including business cases, feasibility studies, and project plans.
- Maintain strong relationships with internal stakeholders and external partners.
- Ensure Personal Lines policy forms are accurate, in compliance, and supportive of our company’s goal of offering a competitive coverage product to our members.
- Work closely with Actuarial, Underwriting, Marketing, and Claims to develop forms, product manuals, product comparisons, and product communications.
- Create and enhance the company’s product, including, but not limited to, forms, manuals, member policy packages, form implementation, etc., to ensure competitiveness in the marketplace.
- Draft and prepare filings and responses to negotiate approval for form and rule filings with the Department of Insurance (DOI) and Office of Insurance Regulation (OIR) through to completion.
- Research primary competitors for opportunities for improvement.
- Interpret insurance forms, statutes, rules, regulations, develop conclusions, and make recommendations.
- Perform analysis of existing forms and manuals on a regularly scheduled basis for effectiveness.
- Research and analyze external information sources to provide updated, accurate competitive analysis, including rates, guidelines, and forms coverage information.
- Compile, analyze, and report on product market trends to assist in determining product strategy.
- Consistently perform User Acceptance Testing for accuracy of enhancements and modifications of form installations. Identify, document, and report discrepancies found.
- Perform all responsibilities using established department processes, quality control procedures, and checklists.
Preferred Qualifications:
- Bachelor's degree in Business, Marketing, or a related field
- 5-7 years of P&C insurance experience, preferably high-net-worth experience
- 2+ years of experience in product development or a related field
- Strong analytical and problem-solving skills
- Excellent communication and collaboration skills
- Ability to work independently and manage multiple projects simultaneously
- Proficiency in Microsoft Office and project management tools
Benefits:
- Flexible Spending Accounts & Health Savings Accounts, with company contributions
- Company-paid comprehensive life & disability insurance plans
- 24/7 Telehealth doctor access, virtual wellness screenings, Employee Assistance Programs
- Company 401k retirement plan with Day 1 eligibility (5% company match, 100% immediate vesting)
- 23 PTO days, accrued yearly
- 11 paid holidays
Vault is committed to providing equal opportunities to all employees and employment applicants. Vault prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.