Market Insights Analyst (Open To Hiring At Sr. Level)

Company Description

Why Wellmark: We are a mutual insurance company owned by our policy holders across Iowa and South Dakota, and we’ve built our reputation on over 80 years’ worth of trust. We are not motivated by profits. We are motivated by the well-being of our friends, family, and neighbors–our members. If you’re passionate about joining an organization working hard to put its members first, to provide best-in-class service, and one that is committed to sustainability and innovation, consider applying today! 

Learn more about our unique benefit offerings here. 

Want to know more? You can learn about life at Wellmark here.

Job Description

Use Your Strengths at Wellmark on our Market Insights and Competitive Intelligence Team!

As a member of our MI/CI team, you will keep a pulse on competitor actions and health care market dynamics. You will support the curation of primary and secondary intelligence and develop proactive and on-demand deliverables. You are responsible for the analysis of trends and profitability measures by market segment, network differentiation, distribution channels, buyer portfolio, benefit trends and financial performance within business. You will conduct quantitative and qualitative research, including needs assessment, conceptualization, proposal development, data analysis and reporting that drives strategy. Additionally, you will conduct intelligence research that drives health plan performance. Your goal will be to identify key opportunities and gaps within our market to develop products/services.

As you progress in our MI/CI track, your scope of responsibility and visibility will increase.

The ideal candidate has investigative curiosity, asks insightful questions, and thrives on driving actionable results. You are a collaborator who is eager to work with your peers to inform business decisions. Knowing your resources, identifying new ones, and seeking out where to find answers are just a few of your talents. You embrace logical thought and have an exceptional ability to construct narratives around data so audiences of all kinds can understand. You do this through strong communication skills and knowing the power of great messaging. Acting procedurally, recognizing preventative measures, and risk reduction are behaviors that resonate with you.

Qualifications

Preferred:

• Master's Degree.
• Proficiency in forecast/statistical modeling, gap analysis, time-series modeling and/or associative causal models (regression). Qualitative including survey analysis, Delphi, and assumption testing.
• Experience with leading complex intelligence and forecasting modeling discussions, presenting data/information to executive stakeholders.

Required:

• Bachelor’s Degree in statistics, mathematics, finance, computer science, engineering, economics, psychology or related field.
• 3+ years experience from within economic analysis, market research, Insurance, Financial Services, or a similar corporate environment independently collecting and analyzing data, conducting research, and developing actionable results that support stakeholder decision making. Must be able to collaborate with multi-disciplinary teams and independently provide targeted insights for segments in order to help drive business strategy.
• Working knowledge of query and data visualization tools/languages such as SAS, SPSS, Business Objects, Power BI, R, Python, etc. and advanced knowledge of Excel.
• Analytical and critical thinking skills, including the ability to collect, summarize, review data, develop recommendations, and relay the “story” to stakeholders. Ability to independently conduct research as appropriate.
• Strong written and verbal communication skills with the ability to express complex concepts clearly and concisely. Ability to effectively consult with stakeholders and influence decisions.
• Ability to interact with leadership and key decision makers.
• Self-starter with strong organizational skills and the ability to multi-task competing priorities in a fast-paced environment. Flexible and adaptable to change.
• Travel required up to 5%.

Additional Information

a. Develop and compile internal and external data to analyze the performance of Wellmark market segments. Will support Segment Performance initiatives by analyzing trends and profitability measures by segment, distribution channels, buyer portfolio, benefit trends and financial performance within the business.

b. Evaluate Wellmark’s competitive position within the market. Provide key insight into competitors within the market by using primary and secondary research tactics. Gather intelligence from public and private sourcing to support analysis and research consultation.

c. Conduct primary and secondary intelligence research including market research, quantitative and qualitative data analysis, and reporting. Identify key opportunities and gaps within our market to support Segment Performance, Network Strategy, and Product Development.

d. Proactively provide insights, recommendations, and future-state initiatives to Product, Network and Segment Performance teams. Will perform complete reviews of key performance indicators, measures, and product and marketing goals to provide direction on how to achieve success.

e. Participate in developing strategic recommendations to support Segment Performance, Network Strategy, and Product Development strategies, by conducting quantitative and qualitative research. This includes needs assessment, conceptualization, proposal development, data analysis, and reporting.

f. Monitor and report progress toward achievement of key performance measures – member, employer, provider, and producer/agent. Work with cross functional teams to recommend appropriate course of action for improvement.

g. Participate in enrollment forecasting and market opportunity analysis including statistical model development, trends, and analyze environmental circumstances that effect enrollment and sales opportunities. Collaborate with key stakeholders to understand and assist with developing financial impacts from sales and new enrollment.

h. Use statistical software applications to analyze data and results from research; formulate key opportunities and gap analysis based on research findings. Identify key opportunities for new or enhanced existing networks, products and services.

i. Participate in annual planning with the Segment Performance teams to identify any data needed to support key initiatives.

j. Other duties as assigned.

An Equal Opportunity Employer

The policy of Wellmark Blue Cross Blue Shield is to recruit, hire, train and promote individuals in all job classifications without regard to race, color, religion, sex, national origin, age, veteran status, disability, sexual orientation, gender identity or any other characteristic protected by law.

Applicants requiring a reasonable accommodation due to a disability at any stage of the employment application process should contact us at careers@wellmark.com