Sr. Product Director - Inland Marine

Hartford, Connecticut

Company Summary

Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Target Openings

1

Job Description Summary

Supports the strategic and operations functions of a particular product line (Inland Marine). Supports the overall profitability, growth and retention of the product line by delivering industry leading, market competitive product offerings. Incumbent will work in close partnership with the Business Insurance Segments, Actuarial, IT, Regulatory and Underwriting units to drive a long-term product strategy and ensure current and future requirements are met. This role supports key strategic and operational functions pertaining to the assigned line of business, including strategic product development and support, market research and analysis, and product maintenance, delivery, and compliance. This job may or may not manage others.

Primary Job Duties & Responsibilities

  • In partnership with key functional areas, support product related efforts in relation to design, development, pricing, filing, RQI system installation, and implementation.
  • Ensure compliance with governing laws, regulations and statutes.
  • Develop and maintain effective relationships with internal resources (e.g. Underwriting, Actuarial, Legal, Risk Control, Claim, Operations, Shared Services, IT) to ensure delivery of all related services that support product development, installation and implementation.
  • Ensure innovation, modularity, and simplicity in design to maximize product extensibility across BI.
  • Lead and manage successful transition from design to implementation to optimize resource allocation, compliance, budget effectiveness and business risk.
  • Provide support to the field for both routine and ad hoc requests relating to policy language, manuscript drafting, competitor form assessment, etc.
  • Provide technical guidance, support and expertise ensuring effective product development and product maintenance.
  • Work collaboratively with others on matters related to product, underwriting and compliance across Business Insurance, including, but not limited to: Business Units, Risk Control, Claim, Legal, Enterprise Underwriting, Actuarial, Audit, Shared Services, IT and Compliance.
  • Conducts investigations and analyzes the pros and cons of new product offerings to support the BI position.
  • May gather claim analysis and actuarial data to support a product enhancement.
  • Works collaboratively with business units to support product line strategy in the business and/or Business Insurance.
  • May prepare the analysis and gather data to support to respond to requests from regulators or state/national agencies.
  • May conduct training for UPDPs or other 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 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.

Licensing or Certificates

  • Preferred: CPCU, SCLA, IIA or other recognized insurance designations (Examples: ARM, CIC)

Job Specific Technical Skills & Competencies

Leading the Business:

  • Advanced leadership, innovation and initiating skills.
  • Results driven.
  • Customer-focused orientation (agent and consumer).
  • Demonstrates expert understanding of Business Insurance.

Leading Self:

  • Expert 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, as well as designing and developing product.
  • Expert presentation skills.
  • Expert organization and time management skills.
  • Attention to detail.
  • Expert ability to comprehend and communicate intent of product strategies, underwriting strategies, and inter-relationships with coverage.
  • Understands how product design influence installation requirements, cost, and long term product life cycle maintenance.
  • Ability to mentor others to develop this skill.
  • Expert critical thinking and analysis skills to understand underwriting results, and competitor actions in order to recommend industry or state specific actions.
  • Expert ability to assess underwriting and financial results.
  • Actively invests in improving own capabilities.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences. 


If you have questions regarding the physical requirements of this role, please send us an email so we may assist you.


Travelers reserves the right to fill this position at a level above or below the level included in this posting.


About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.