Product Development and Pricing

What do they do?

attorney

Collect and analyze statistical, financial, and competitive information to help make pricing, underwriting, agency management, distribution, claims, and product development decisions. 

Click here to view the complete Product Development and Pricing Career Pathway. 

Some typical job duties include:

  • Identify and solve product/pricing problems by performing analysis that involves retrieving and analyzing both internal and external data.
  • Assists with analysis and implementation of changes to existing insurance products as well as the development of new products.
  • Perform extensive product reviews that require analysis of trends, factors, issues, competitive analysis, and rate level indications.
  • Analyzes agency management, product distribution, and claims procedures to enhance growth and underwriting profit of the insurance product. 

 

Most Important Occupational Skills:

Basic Skills

  • Reading Comprehension
  • Active Listening
  • Writing

Technical Skills

  • Operations Analysis
  • Programming

Social Skills

  • Social Perceptiveness
  • Coordination
  • Persuasion

 Systems Skills

  • Judgment and Decision Making
  • Systems Analysis
  • Systems Evaluation

Problem Solving Skills

  • Complex Problem Solving 

Resource Management Skills

  • Time Management
  • Management of Personnel Resources
  • Management of Financial Resources

Just the Facts

  • Salary range: $50,000-$90,000+
  • Education and Professional Requirements: Entry — Bachelor's degree; Senior level — Bachelor's degree, professional certification; Executive — Post graduate degree, professional certification, many years experience. 
  • Possible career path: Assistant Actuary/Pricing Analyst > Pricing/Product Development Analyst > Senior Analyst, Pricing/Product Dev. > Director, Pricing and Product Development. 

Click here to view the complete Product Development and Pricing Career Pathway. 

SHARE