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.
This position provides support for the development, successful execution, and analysis of PI Underwriting to achieve profit, growth, and customer experience objectives. The employee will help create and revise guidelines, rules, manuals, procedures, standards/expectations. The employee will also facilitate the Peer Review and Governance Program working with the State teams and analyzing their proposals. The position will conduct and participate in underwriting file reviews, audits, training, competitive intelligence, and portfolio monitoring.
Position reports to the Senior Product Director, PI National Underwriting Team and desired location to be in Hartford. Periodic travel (2-3 times per year) is expected to Personal Insurance Business Centers and field locations as needs arise.
This position will be offered as a Senior Product Analyst. Depending on experience we may consider a Product Director level.
Primary Job Duties & Responsibilities
- Facilities and administers Peer Review and Governance process for rate/underwriting/coverage proposals developed by Market Teams. Ensures standings orders are adopted timely, differences to Countrywide guidelines and programs are properly debated.
- Monitors competitors for marketplace changes in underwriting and recommends changes to Travelers underwriting approach.
- Develops business requirements for system implementation of underwriting and/or product related underwriting changes or works with a PI Platform business analyst who documents such requirements for medium to larger projects.
- Develops monitoring and measurement mechanisms for underwriting implemented changes. Communicates and documents findings and recommends changes as needed.
- Writes and updates underwriting guidelines, rate/rule manuals, philosophy documents, procedures, expectations.
- Create training and reference materials to support underwriting positions, philosophy and countrywide and/or state specific underwriting changes. May assist with delivery of training and may travel to business center locations to deliver training.
- Develops effective relationships and seeks input and approval when needed, from key stakeholders such as Product leadership, Claim, PI Legal and other business units/partners.
- Monitors effectiveness of Business Center underwriting execution through formal and informal underwriting audits.
- Provides underwriting analysis, expertise, support and assistance toProduct Management/State Teams, Claims, Sales, Business Centers and Underwriting staff and other PI areas for countrywide and state specific positions and/or topics.
- Adheres to the team's underwriting workflow processes, best practices and controls. Meets or exceeds quality and timeliness goals.
- Utilizes underwriting authority to evaluate and approve underwriting risks and underwriting situations submitted by business center underwriters. May assist with reporting on submissions and perform quality assessments.
- Participates as a project team member on state and national product initiatives.
Bachelor's degree in Liberal Arts or Business. Minimum of 3 years of property casualty insurance with working knowledge and experience in product underwriting and coverage. Intermediate knowledge of Microsoft office products (Excel, Word, PowerPoint).
Education, Work Experience & Knowledge
- 4 years of Personal insurance experience, with at least 2 years of personal insurance individual risk underwriting experience.
- Personal insurance individual risk underwriting, product development, or claim experience.
- General knowledge and understanding of personal insurance products, underwriting philosophies, 3rd party data processes, systems, coverages, distribution channels, regulatory environment and insurance financials.
- Experienced using Microsoft Office applications: Word, PowerPoint, Excel.
- General knowledge of Microstrategy software or similar query tool.
- Ability to collect & analyze underwriting data. Willingness to develop these skills.
- 4 year college degree or equivalent work experience.
- Desirable: completion of risk management or insurance course work, matriculation in CPCU, IIA or other recognized insurance designations (examples CPCU, ARM, CIC).
Job Specific & Technical Skills & Competencies
- Demonstrates solid understanding of Personal Insurance business. This includes underwriting, products and coverage, pricing/filing processes, claim, risk management, regulatory/compliance, distribution channels, business and sales centers, and systems.
- Critical thinking and analysis skills to assist in determining courses of action to achieve profit, growth, and customer experience goals.
- Strong attention to details.
- Drives results and acts with sense of urgency.
- Customer-focused orientation (internal and external customers).
- Actively invests in improving own capabilities.
- Strong oral and written communication and presentation skills.
- Strong organization and prioritization skills.
Operates standard office equipment (Frequently) Sitting (Can stand at will) (Frequently) Use of Keyboards, Sporadic 10-Key (Frequently)
Licensing or Certificates
Preferred: Matriculation in CPCU, IIA, or other recognized insurance designations (examples: CPCU, ARM, CIC)
Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.
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