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Sr. Director, Product
The Travelers Companies
Hartford, CT, United States
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Primary Job Duties & Responsibilities
Conduct investigations and analyzes the pros and cons of a new product offering to support the enterprise position. May gather data on corporate exposure, claim analysis, actuarial data, etc to support the product strategy.
In collaboration with partners across Business Insurance, monitors environmental/industry changes, performance trends, and makes recommendations to improve top and bottom line performance.
Leads activities to support the product development lifecycle, ensuring cross product and account needs are designed and engineered into the product and acts as a “thought leader” for the line of business.
Develops deep understanding of marketplace and industry dynamics, targeted customers and industries. Partners in the development of comprehensive marketing plans and internal communications.
Ensures the development of operationally efficient rate, quote and issuance strategies for the LOB by maximizing customer experience in conjunction with broader cross product and organizational goals.
Oversees ongoing product maintenance initiatives which include a focus on ensuring product compliance with governing laws, regulations and statutes. Provides day to day support as the LOB subject matter expert.
Monitor product results (i.e., line profitability analysis, quarterly loss trends, utilization/productivity, etc.) and make recommendations for corrective action as necessary.
Oversee the development of product training for employees. May provide counsel and guidance to field staff on product specific questions or issues.
Company Information
Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.
Job Summary
Leads a team to support Business Insurance strategic product management and product development functions for Workers Compensation. Engages in and leads qualitative and quantitative activities supporting the overall profitability, growth, expense and retention strategies impacting the line of business
Minimum Qualifications
Bachelor's degree required. 6 years of insurance experience with expert understanding of products, underwriting, coverage, rules, forms, regulatory environment, risk management, pricing/filing processes and insurance financials required. Advanced knowledge of Microsoft office products (Excel, Word, PowerPoint) required.
Education, Work Experience & Knowledge
7 years of Business Insurance product (non-rate) experience. 7 years of Business Insurance in the areas of policy and/or non-policy form work or similar type work. Business insurance forms/product development, claims or legal experience. Thorough understanding of insurance products, systems, contracts, forms, coverage, distribution channels, regulatory environment and insurance financials. Advanced knowledge of Microsoft Office Visio Advanced knowledge of Impromptu or similar query tool. Ability to collect data from data marts or willingness and ability to develop these skills.
Job Specific & Technical Skills & Competencies
Leading the Business: Advanced leadership, innovation and initiating skills. Results driven. Customer-focused orientation (agent and consumer). Demonstrates expert (master) understanding of Business Insurance. Leading Self: Expert (master) oral and written communication skills with ability to influence at all levels of the organization. Includes the ability to communicate intent of contract and non-policy form language to all levels of the organization. Includes creating and drafting forms. Expert presentation skills. Expert organization and time management skills. Attention to detail. Master (expert) ability to comprehend and communicate intent of state product strategies, underwriting strategies, and inter-relationships with coverage. Ability to mentor others to develop this skill. Master (expert) critical thinking and analysis skills to understand state specific results, state underwriting results, and competitor actions in order to recommend state specific actions. Master (expert) ability to assess quality of state specific underwriting and financial results. Actively invests in improving own capabilities.
Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.