Midwest Family Mutual Insurance Company (MFM) is a property and casualty carrier serving independent agents in 24 states with commercial and personal lines of business. MFM employees serve our agents as valued customers, thus providing our policyholders with exceptional products and service.
We are currently seeking a Business Data Analyst to join our Research and Development team. This is a full-time remote position with occasional travel for training and company-sponsored events.
Business Data Analysts support strategic management decisions in Underwriting and Marketing by providing detailed analysis of premium and loss data, proposing rate changes, and researching potential rates for new coverages, new lines, new states. For state filings they provide rate data, written justifications, and public-facing documentation. They’re technically adept, implementing rate changes in the system or modifying algorithm logic, querying the database to support management information requests and bureau reporting, and effectively presenting data analysis in Microsoft Excel. Logical thinking and troubleshooting are among their strengths as they support internal users on Help Desk, I.T. and R&D development projects, and management initiatives.
Job duties include the following responsibilities:
- Thoroughly understand rating elements that are used to develop and audit policy premium.
- Develop knowledge of rating algorithms and functionality of a proprietary virtual rater. Gain the ability to modify algorithms, assemble projects, test, and export rating projects from a test environment to production.
- Understand existing and learn to develop new SQL queries in Oracle database to obtain data for market analysis, financial reporting, and other detailed information as needed for business decision making.
- Provide statistical market analysis and rate justification explanations for (a) new products, (b) product expansions into new states, and (c) rate changes for existing products. Analyze company performance and loss ratios against standard industry loss costs and competitive benchmarking.
- Support internal users with data requests and rating analysis needs through Help Desk by troubleshooting and communicating effectively, asking pertinent questions, and conveying problem solutions. Document complex issues for I.T. assistance or an outsourced solution.
- Design test matrices and facilitate testing for new system solutions, e.g. rating, user-interface configuration, and other technology solutions.