Lendbuzz
Insurance Program Analyst
TLDR
The Insurance Program Analyst drives profitability through detailed analytics of insurance products and process improvements, ensuring financial integrity and data management.
At Lendbuzz, we believe financial opportunity should be more personalized and fair. We develop innovative technologies that provide underserved and overlooked borrowers with better access to credit. From our employees to our dealers, partners, and borrowers, we’ve built a company and a culture around a resolute belief in the promise and power of diversity. We value independent and critical thinking.
Key Responsibilities (Monthly Allocation):
1. Policy Sales Processing: Manage weekly process of preparing and uploading files to vendor site
and sync with internal Accounting department.
2. Loss Development Triangles: Analyze loss and premium data to prepare monthly loss
development trends.
3. Tracking & Insurance Coverage: Prepare and upload weekly insurance coverage information to
insurance tracking vendor.
4. Invoice Reconciliation: Verify monthly vendor invoices against portfolio size; manage payment
approvals.
5. Special Project: Lead operational initiatives for vendor transitions or portfolio migrations.
4. Dealer & Portfolio Strategy
1. Dealer Performance Audits: Conduct deep-dives into "Dealer Bands" to identify high-loss retailers
and recommend pricing or product adjustments.
2. Profitability Modeling: Move beyond basic loss development triangles to model the long-term ROI
of each insurance product line.
3. Market Benchmarking: Periodically review competitor program structures to ensure our VSC/GAP
offerings remain competitive.
5. Compliance, Documentation & Systems
1. Standard Operating Procedures (SOPs): Create and maintain a comprehensive "Insurance
Operations Manual" for all tasks (IQQ, Sigma, Allied FTP, etc).
2. Reporting Automation: Partner with the Data/IT team to automate manual spreadsheet tasks into
Salesforce or Sigma dashboards.
Key Requirements:
Financial Literacy: Deep understanding of insurance accounting (accruals, loss ratios, and
premium disbursements).
Analytical Rigor: Ability to turn raw data triangles into executive-level narratives and business
recommendations.
Advanced Data Proficiency: High-level Excel and Salesforce.
1. GAP & Insurance Tracking
1. Policy Sales Processing: Manage weekly process of preparing and uploading files to vendor site
and sync with internal Accounting department.
2. Loss Development Triangles: Analyze loss and premium data to prepare monthly loss
development trends.
3. Tracking & Insurance Coverage: Prepare and upload weekly insurance coverage information to
insurance tracking vendor.
4. Invoice Reconciliation: Verify monthly vendor invoices against portfolio size; manage payment
approvals.
5. Special Project: Lead operational initiatives for vendor transitions or portfolio migrations.
2. VSI (Vendor Single Interest)
1. Program Performance: Develop monthly loss development results and call out data trends
regarding surplus/deficit projections.
2. Premium Management: Calculate accurate premium payments across multiple insurance
channels.
3. Audit & Reporting: Monthly audit of claim payments to ensure accuracy and reporting
consistency.
4. Primary Insurance Trends: Analyze total loss payback trends; flag low-performing cohorts to
management.
1. Program Performance: Develop monthly loss development results and call out data trends
regarding surplus/deficit projections.
2. Premium Management: Calculate accurate premium payments across multiple insurance
channels.
3. Audit & Reporting: Monthly audit of claim payments to ensure accuracy and reporting
consistency.
4. Primary Insurance Trends: Analyze total loss payback trends; flag low-performing cohorts to
management.
3. VSC (Vehicle Service Contract)
1. Cancellation Management: Confirm cancellation funds and amounts for processing and reconcile
with operational specialists.
2. Billing & Reconciliations: Perform VIN-level audits for vendor results.
3. Issue Resolution: Resolve rejected sales/VIN coverage issues with Sales and vendor teams.
4. Vendor Onboarding: Manage operational data setup for any new VSC product launches.
1. Cancellation Management: Confirm cancellation funds and amounts for processing and reconcile
with operational specialists.
2. Billing & Reconciliations: Perform VIN-level audits for vendor results.
3. Issue Resolution: Resolve rejected sales/VIN coverage issues with Sales and vendor teams.
4. Vendor Onboarding: Manage operational data setup for any new VSC product launches.
Additional Areas
4. Dealer & Portfolio Strategy
1. Dealer Performance Audits: Conduct deep-dives into "Dealer Bands" to identify high-loss retailers
and recommend pricing or product adjustments.
2. Profitability Modeling: Move beyond basic loss development triangles to model the long-term ROI
of each insurance product line.
3. Market Benchmarking: Periodically review competitor program structures to ensure our VSC/GAP
offerings remain competitive.
5. Compliance, Documentation & Systems
1. Standard Operating Procedures (SOPs): Create and maintain a comprehensive "Insurance
Operations Manual" for all tasks (IQQ, Sigma, Allied FTP, etc).
2. Reporting Automation: Partner with the Data/IT team to automate manual spreadsheet tasks into
Salesforce or Sigma dashboards.
premium disbursements).
recommendations.
We believe:
Diversity is a competitive advantage. We celebrate our differences, and are better when we have a variety of experiences, viewpoints, and backgrounds.
Compassion is a strength. We care about our customers and look to build long-term relationships with them.
Simplicity is a key feature. We work hard to make our forms and processes as painless and intuitive as possible.
Honesty and transparency are non negotiable. We incorporate these traits in all of our interactions.
Financial opportunity belongs to everyone. We work every day to improve lives by extending this opportunity.
If you believe these things too then we would love to hear from you!
Background Checks
After an offer is accepted, Lendbuzz conducts a pre-employment background check. Any evaluation of the background check will be subject to an individualized assessment, taking into account the applicant’s or employee’s specific record and the responsibilities and requirements of the particular role.
A Note on Recruiting Outreach
We’ve been made aware of individuals falsely claiming to represent Lendbuzz using lookalike email addresses (eg @lendbuzzcareers.com). Please note that all legitimate emails from our team come from @lendbuzz.com. We will never ask for sensitive information or conduct interviews via messaging apps.
Lendbuzz is a fintech company that focuses on transforming the automotive lending landscape by providing underserved borrowers with personalized and equitable access to credit. Our innovative technologies aim to empower both borrowers and automotive dealers, fostering a culture of diversity and success in the industry.
- Founded
- Founded 2015
- Employees
- 11-50 employees
- Industry
- Internet Software & Services
- Total raised
- $180M raised
Program Analyst