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  • Competitive Intelligence Analyst

    April 25, 2019 by Protective Life

    The Competitive Intelligence Analyst should understand life insurance products; have excellent analytical and communication skills, and strong attention to detail. This person supports AVP Product and Market Research and Sr. Research analyst on the Market Planning team. They should be comfortable conducting deep analysis of life insurance products, including review of product filings and illustrations. They need to demonstrate an ability to think strategically about industry trends and competitor actions and articulate their implications for Protective Life.

     

    Product and Research – Conducts primary and secondary research, analysis, and reporting of the individual life marketplace

    1. Serves as internal consultant for the Life Manufacturer with a general understanding of the individual life insurance marketplace and sales trends.
    2. Regularly monitors, analyzes and interprets marketing and competitive information in regards to trends within the individual life marketplace. Utilizes research tools such as Competiscan, Google Alerts, External Media, BGA Websites, LifeTrends, LifeSpecs, and various other resources to monitor and communicate product trends and competitive results.
    3. Develops regular communication to summarize competitive pricing information, industry and carrier trends or changes, product benchmarking, and the relevancy to Protective Life.
    4. Package and disseminate insights on competitor strategy including product development, target markets, marketing and sales support.
    5. Develop and distribute relevant competitive information to key internal partners including actuarial, distribution, marketing and senior management.
      • Gather appropriate information, including marketing and benchmarking data, and provide it to the team in order to help develop promotional and training material that favorably positions Protective’s products against competitors.
      • Maintain regular benchmarking metrics for actuarial and distribution to ensure information is always up-to-date and relevant to industry trends.
    6. Contribute and evaluate ideas based on research and trend analysis for marketing/sales literature, illustrations and presentations for Life Product and Market Research to favorably position PL life products.
    7. Fulfills on-demand research requests from internal partners: Actuarial, Life Product Promotions, Distribution, Underwriting and Senior Management.
    8. Gather information on competitor products through online research, obtaining marketing samples, pulling policy forms, and working with industry partners.
    9. Publishes weekly editorial newsletter distributed among Protective employees to report findings, reprice analysis and upcoming changes within the industry.
    10. Supports Research Manager in the role of Protective Life industry liaison with peer companies (LISSSG) to maintain strong professional relationships to ensure effective research. This includes working with internal partners to gather relevant information to answer all survey questions, gathering additional information from our competitors, and conduct research surveys as needed.
    1. Market Analysis and Reporting – Gather, Analyze, Summarize and report out all sales data for individual life
    2. Gather, analyze, monitor, and archive all regular sales reporting data (including Tillinghast, LIMRA and Life Specs data)
    3. Regularly calculate and internally distribute all relevant sales information, analyze results, discuss information with competitors, and develop summary reports to help Leadership understand our position within the individual life market place.
    4. Create “product write ups” and side-by-side comparisons of products/features for competitive sales analysis, intranet site and training. This includes features, pricing, illustrated values, strengths and weaknesses.
    5. Monitor and analyze the individual life marketplace to determine changes in competitive position and maintain working in-depth understanding of competitor products.
    6. Perform ad-hoc sales and competitive reports as requested by Leadership, Distribution or other parties
    7. Assist in the development of sales information for presentations
    8. Serve as primary contact to third-party entities with regards to product surveys

                                    

    Performs related activities as directed, and manages personal self-development to prepare for new responsibilities and challenges in a changing environment.

     

    Job Specifications:

    ·         Excellent knowledge of individual life marketplace, including both fixed and variable life products

    ·         Demonstrated ability to analyze research findings, summarize information and make recommendations

    ·         Strong problem solving and analytical skills, with attention to detail, including intermediate or advanced Excel skills

    ·         Knowledge of the Protective Life’s product portfolio, along with proficiency in life illustration system, both proprietary and those offered by competitors

    ·         Understanding of various statistical applications and techniques to effectively collect, analyze, and report research findings

    ·         Excellent communication skills (written and verbal). Communication skills are important to effectively convey the right set of information, at the right level (in terms of technical complexity and need), to the right audience (actuarial, wholesalers, senior management).

    ·         Excellent interpersonal and relationship skills

     

    Qualifications:

    ·         A Four year degree in business, marketing, finance, mathematics or related field

    ·         Successful track record in product and research

    ·         Excelled Microsoft Office capabilities, primarily with Word and Excel.

    ·         Significant knowledge of life products, competitors and the marketplace

    ·         Experience with Protective Life’s Individual culture and life product philosophy

    Originally Posted at LinkedIn on April 2019 by Protective Life.

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