Travelers Sr. Director, Product in Hartford, Connecticut
Sr. Director, Product
Primary Job Duties & Responsibilities:
Will conduct research to identify target business, competitors, industry trends and economic factors across Construction-Energy IndustryEdge segments. Recommends underwriting policies and standards, which support the development of assigned programs, products and services and works collaboratively with business unit liaisons to support product line strategy in Construction-Energy and/or Business Insurance. May collect and analyze claim data to determine if claim initiatives are aligned with IndustryEdge or product line strategies. Will monitor product results (i.e. line profitability analysis, quarterly loss trends, utilization/productivity, etc.) with a focus on assigned IndustryEdge programs and make recommendations for corrective actions or opportunities as necessary. May conduct training for UPDPs or other employees on Construction-Energy appetite, sales tools, products or other areas of expertise. Will provide guidance to Field Staff on product specific issues or IndustryEdge program application. May research and analyze the pros and cons of a new product offering or gather data on corporate exposures, claim or actuarial trends, etc. to support a corporate position. May prepare the analysis and gather data to support the corporate underwriting policies/standards on topics of broad interest or national exposure such as catastrophes, terrorism, bird flu, global warming as respects to assigned Industries or Enterprise positions. Works with actuarial staff to assure that line of business and IndustryEdge profitability targets are met and that forms and filings are supportive of the product and the organization.
Determine key insights to product need and competitor differentiation. Lead, influence and support product development in a collaborative environment with Enterprise Product, Enterprise Underwriting, Field and the Leadership team.
Serve as an industry resource and subject matter expert on assigned line(s) of business and / or industries and provide this subject matter expertise for field AEs, underwriting officers and home office leadership.
Partner with the Actuarial team to provide industry and product insight into production exhibits, pricing tools, loss trends, and profitability targets.
Manage Industry Portfolios with responsibility for strategies focused on profit and loss, growth and line improvement opportunities.
Monitor, report and build strategic responses based on monthly monitoring, operating reviews and in-depth portfolio CUREs (in-depth analysis and evaluation of industry performance, gaps and opportunities).
Identify training needs and delivery strategies (webinars, lunch & learns, classroom, etc.) related to Product / IndustryEdge topics.
Collaborate with Marketing, Risk Control and Claim to mold and shape product and / or industry messages, marketing tools and industry expertise in support of business unit objectives.
Engage in a variety of strategic projects across business units, lines and Enterprise functions to provide subject matter insights.
Job Opening ID:
Equal Employment Opportunity Statement:
Travelers is an equal opportunity employer.
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.
Supports the strategic and operations functions of a particular product line (Workers Comp, Auto, GL, Umbrella, and Property) or industry. Supports the overall profitability, growth and retention of the product line and consistency of all related underwriting initiatives.
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.
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.
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.
Licensing or Certificates:
Preferred License and Certifications Preferred: CPCU, IIA or other recognized insurance designations (Examples:, ARM, CIC)
Hartford - Connecticut - United States
St. Paul - Minnesota - United States
We are committed to valuing the diversity that exists among our workforce, our business partners, our customers and our communities. With respect to our workforce, we are committed to not only increasing diversity in our hiring at all levels but also fostering an inclusive environment where all employees, regardless of race, color, religion, gender, gender identity, age, national origin, disability, veteran status, marital status, sexual orientation, genetic information or any other status or condition protected by law, can develop and thrive.
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