STATE OF NEW HAMPSHIRE
HUMAN RESOURCES
CLASSIFICATION: INSURANCE RATE ANALYST
Class Code: 5294-28
Date Established: 10-22-93
Occupational Code: 7-2-4
Date of Last Revision: 12-28-01
BASIC PURPOSE: To analyze insurance company rates,
contracts and policies to determine conformity to state and departmental
regulations.
CHARACTERISTIC DUTIES AND RESPONSIBILITIES:
·
Reviews and analyzes
information and data on contracts filed by casualty, property, liability, life
and accident, and health insurance companies.
·
Holds hearings and
participates with Hearings Officers on other hearings, while referring
difficult cases to the Commissioner.
·
Subpoenas records
from companies, appears as expert witness representing the commission in court
hearings and testifies before legislative committees.
·
Reviews rates, forms
and marketing potentials of new companies seeking to be licensed in New
Hampshire.
·
Audits insurance
companies records and has authority to revoke licenses if warranted.
·
Supervises
professional, technical and support staff with responsibility for work
assignments and reviews and recommends personnel actions including hiring,
merit increases, disciplinary action and performance appraisals.
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DISTINGUISHING FACTORS:
Skill: Requires skill in analyzing and
interpreting data, policy and procedures OR in using equipment in order to
arrive at logical conclusions or recommendations.
Knowledge: Requires logical or scientific
understanding to analyze problems of a specialized or professional nature in a
particular field.
Impact: Requires responsibility for achieving
major aspects of long-range agency objectives by planning short- and long-term
organization goals, reviewing recommendations for procedural changes, and
developing or revising program policies.
Errors at this level result in incorrect decisions at an administrative
level, and are detected subsequent to implementation in an overall evaluation
process.
Supervision: Requires direct supervision of programs
or of employees doing work which differs from the supervisor, including
disciplining employees, solving personnel problems, recommending hiring and
terminating employees, and developing work methods. The supervisor in this position manages a working unit or
section with responsibility for employee performance appraisal.
Working Conditions: Requires performing regular job
functions in a controlled environment with minimal exposure to disagreeable job
elements and little risk of hazard to physical or mental health.
Physical Demands: Requires light work, including
continuous walking or operating simple equipment for extended periods of time
as well as occasional strenuous activities such as reaching or bending.
Communication: Requires acting as the official
representative of the agency, including explaining and defending current and
long-range goals or objectives which directly affect public policy decisions
regarding major state programs and services.
Complexity: Requires formulating the combination of
overall job functions in order to address highly diverse or novel situations
requiring new concepts and imaginative approaches to a wide range of
intellectual and practical problems.
Independent Action: Requires independent judgment in
planning and evaluating work procedures and in supervising the development of
professional, technical and managerial standards under administrative direction
and according to broad departmental guidelines.
MINIMUM QUALIFICATIONS:
Education: Bachelor's degree from a recognized
college or university with major study in mathematics, finance, accounting or
economics. Each additional year of
approved formal education may be substituted for one year of required work
experience.
Experience: Eight years' experience in the
insurance industry preferably concerned with the application of accounting
principles or statistical analysis, at least three years of which shall have
been specialized in fire and casualty insurance, or life, and accident and
health.
License/Certification: None required.
RECOMMENDED WORK TRAITS: Thorough knowledge of accounting and
statistical procedures, principles and practices used in establishing rates for
fire and casualty or life and accident and health insurances. Thorough knowledge of the principles
and practices of field investigations and law enforcement. Thorough knowledge of the regulations
of the placement of risks with unlicensed insurees. Thorough knowledge of state laws and regulations relating to
insurance companies. Considerable
knowledge of the principles and practices of office management and
supervision. Ability to analyze
rate schedules and classification in compliance with laws. Ability to prepare complex technical
reports and present same before hearings.
Ability to objectively evaluate information received to make sound
recommendations. Ability to
present ideas clearly and concisely in oral, written and graphic form. Ability to establish and maintain
effective working relationships with representatives of insurance companies and
the general public. Must be
willing to maintain appearance appropriate to assigned duties and
responsibilities as determined by the agency appointing authority.
DISCLAIMER STATEMENT: This class specification is descriptive
of general duties and is not intended to list every specific function of this
class title.
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Last Updated 01/07/03
URL: http://www.nh.gov/hr/classspec_i/5294.htm