Business Data Analyst
Job Details
Experienced
Fully Remote
Full Time
Bachelor
Negligible
Day
Research
Description

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.

 

Qualifications

Formal Education 

Preferred:

  • BA degree in Business Analytics, Mathematics, Actuarial Science, Computer Science or related analytical field

Beneficial:

  • CPCU designation
  • Other Insurance Education or Certification
  • 3 years equivalent work experience

Knowledge & Experience

  • Excellent analytic and critical thinking skills.
  • Excellent organizational skills and attention to detail.
  • Experience in Oracle or other database, capable of writing basic queries.
  • Strong math skills; need ability to understand and apply ratios and develop equations.
  • Strong communication skills, ability to document processes and articulate business needs and solutions.
  • Strong MS Office skills in Word and Excel.
  • Insurance background is a plus.
  • Familiarity with insurance rating and data collection bureaus such as ISO and NCCI is a plus.

Ideal candidate will be:

  • Self-motivated and self-directed, able to succeed in a work-from-home environment.
  • Flexible and adaptable in regards to learning and understanding new technologies.
  • Logical and analytical in problem-solving abilities.
  • Technically proficient.
  • Detail-oriented.
  • Able to conduct research into regulatory issues.
  • Able to work independently and in a team-oriented, collaborative environment.
  • Able to effectively prioritize and execute tasks in a high-pressure environment to meet established deadlines.
  • Customer-service oriented.
  • An effective and articulate communicator.    
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