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Product Director BI - Inland Marine

Hartford, Connecticut

Who Are We?

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.

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$88,900.00 - $146,700.00

Target Openings

2

What Is the Opportunity?

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.

What Will You Do?

  • 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.
  • Perform other duties as assigned.

What Will Our Ideal Candidate Have?

  • 6 years of Business Insurance experience.
  • Business Insurance forms/product development, claims or legal experience.
  • Thorough understanding of Business 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.
  • Leading the Business:
  • Advanced leadership, innovation and initiating skills.
  • Results driven.
  • Customer-focused orientation (agent and consumer).
  • Demonstrates advanced understanding of Business Insurance.
  • Leading Self:
  • Advanced oral and written communication skills.
  • Advanced organization and time management skills.
  • Attention to detail.
  • Advanced ability to comprehend and communicate intent of product strategies, underwriting strategies, and inter-relationships with coverage.
  • Advanced critical thinking and analysis skills to understand underwriting results, and competitor actions in order to recommend industry or state specific actions.
  • Advanced ability to assess underwriting and financial results.
  • Actively invests in improving own capabilities.
  • Preferred: matriculation in CPCU, SCLA, IIA, or other recognized insurance designations (examples: ARM, CIC)

What is a Must Have?

  • Bachelor's degree required.
  • 4 years of insurance experience with working knowledge and experience in product, underwriting or coverage required.
  • Intermediate knowledge of Microsoft office products (Excel, Word, PowerPoint) required.

What Is in It for You?

  • Health Insurance: Employees and their eligible family members - including spouses, domestic partners, and children - are eligible for coverage from the first day of employment.
  • Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
  • Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
  • Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

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 are a candidate and have specific 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.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.


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.