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Senior Director Product - Business Insurance BCO

Employer
Travelers Insurance
Location
Hartford, Connecticut
Salary
Not Specified
Closing date
Nov 5, 2019

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Job Details

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
The Sr. Director of Innovative Products & Services will lead the design, development, testing, and implementation of new product and revenue generating sources in collaboration with BI Product, Customer and Distribution Value Streams as well as the Business Markets. This individual will lead a portfolio of products, test marketplace opportunities, understand the competitive marketplace and make recommendations to leadership based on success and learning objectives.

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.

Primary Job Duties & Responsibilities
Under general direction, the Sr. Director of Innovative Products and Services partners with BCO partners, EMR, Legal, Finance, Business Markets, Marketing and Sales to determine and lead the overall business strategy for new innovative products and services within Business Insurance. This individual will also evaluate and identify new market opportunities, complete competitor analysis, and understand technological and potential partner capabilities.

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 a corporate position. Works collaboratively with business units to support product line strategy for Business Insurance. Recommends underwriting policies and standards which support the development of assigned product and services such as researching and identifying target business, competitor information, industry and economic factors across Business Insurance. 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, etc. Works closely with actuarial staff to assure that forms and filings are supportive of the product and the organization. May collect and analyze claim data to determine if claim initiatives are aligned with product line strategy. Monitor product results (i.e., line profitability analysis, quarterly loss trends, utilization/productivity, etc.) and make recommendations for corrective action as necessary. May prepare finding and analyze data in support of the company's position on the assigned product to respond to requests from regulators or state/national agencies. May conduct training for employees on the product of expertise. May provide counsel and guidance to field staff on product specific issues.

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.

Licensing or Certificates
Preferred License and Certifications Preferred: CPCU, IIA or other recognized insurance designations (Examples:, ARM, CIC)

Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.

Company

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WHO WE ARE

Imagine a Career With Purpose.

For more than 160 years Travelers has earned a reputation as a leader in personal, business and specialty insurance because we take care of our customers. When you work at Travelers, life’s most important moments become your life’s work. That means helping families feel secure, businesses to prosper, knowing that you’ve made a difference, and feeling like you belong to something bigger.


LIFE AT TRAVELERS

Imagine Playing a Role in Something Bigger.

A career at Travelers means being part of a team comprised of 30,000 + talented and passionate people that’s evolving to meet changing needs – from customer service to data science and beyond. If that’s more than you imagined in an insurance career, it’s time to join us at Travelers.


JOIN OUR TALENT COMMUNITY
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