Director, Product Development - Business Insurance

The Travelers Indemnity Company; Hartford (CT); On-site; USD 120,000 - 199,000; Full time

Benefits offered by this job

Health Insurance

401(k) matching with Pension Plan

Paid Time Off 20 days + holidays

Wellness program

Volunteer/Matching Gift

Job summary

The Travelers Indemnity Company is seeking a Director of Product Development for Surplus Lines in Hartford to drive product strategy, forms, and regulatory guidance across BI units. You will lead cross-functional initiatives, coach a team, and ensure compliant, innovative product offerings.

The role requires six years in product development (financial services), strong leadership and communication, and a deep understanding of Travelers' business objectives.

Qualifications

• Bachelor's Degree.
• Six years of product development experience preferably in the financial services industry.
• One year people management experience
• Insurance experience with expert understanding of products, underwriting, coverage, rules, forms, regulatory environment, risk management, pricing/filing processes and insurance financials.
• Able to interpret business specific translations and solutions.
• Excellent communication and presentation skills with the ability to interact and influence management.
• Proven innovation skills including thinking critically about multiple perspectives and approaches to solving problems.
• Has deep understanding of Travelers' business strategy and plan objectives to align with enterprise goals.
• Excellent analytical skills with the ability to evaluate and understand current data and systems, find deficiencies/opportunities, recommend changes, and translate into business impacts.
• Excellent storyteller for relaying information, interacting, and influencing all levels of the organization.
• Demonstrated leadership skills with the ability to manage change, develop employees, and align resources to accomplish key objectives.

Responsibilities

• Lead the development, execution and enhancement of product strategies and actions including business scope, go-to-market strategies, and agile methodologies by influencing key stakeholders to achieve financial objectives.
• Influence and communicate strategies and associated action plans with key stakeholders and related initiatives to gain consensus for recommendations.
• Oversee and execute market, competitor, and consumer research analysis to identify and recommend new products, markets and services or enhance existing ones.
• Proactively develop solutions to product challenges and gain buy-in from key stakeholders to adopt recommendations.
• Manage the design, development, and implementation of system and process solutions that align with the product’s strategy.
• Identify and test new products, markets or partnership opportunities or enhance existing ones by collaborating with stakeholders and other entities and vendors.
• Lead and guide a team for product enhancement work including launch and rollout plans related to product strategies and action plans.
• Ensure strategies and plans address compliance needs and regulatory requirements.
• Oversee development of communication, training, and marketing materials in support of new or enhanced products and initiatives.
• Manage monitoring and measurement mechanisms for product strategies and initiatives in support of outlined strategic success criteria and present findings and recommendations to leadership.
• Perform other duties as assigned.

Skills

Communication

Presentation skills

Analytical thinking

Leadership

Influence

Strategic understanding

Problem solving

Education

Bachelor's Degree

Job description

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 170 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

$120,400.00 - $198,700.00

Target Openings

1

What Is the Opportunity?

Product Development teams play a critical role in the development and achievement of Travelers' financial objectives (growth, profit & retention) for one or more insurance products through the development, implementation, and monitoring of product strategies and corresponding actions.

As a Director, Product Development — Surplus Lines, you serve as the enterprise subject matter authority for Excess and Surplus Lines product operations across six Business Insurance business units processing first-party lines of business. You manage the compliance, documentation, regulatory, and advisory functions that enable accurate and compliant surplus lines policy issuance, state reporting, and product guidance.

In this role, you lead the maintenance and enhancement of surplus lines product guides and forms, administer state-specific regulatory processes, coordinate across Legal Services, BI-Finance, Corporate Compliance, and field operations, and deliver training and onboarding support to sustain operational continuity.

This position may coach, provide feedback, and/or oversee a team.

What Will You Do?

• Lead the development, execution and enhancement of product strategies and actions including business scope, go-to-market strategies, and agile methodologies by influencing key stakeholders to achieve financial objectives.
• Influence and communicate strategies and associated action plans with key stakeholders and related initiatives to gain consensus for recommendations.
• Oversee and execute market, competitor, and consumer research analysis to identify and recommend new products, markets and services or enhance existing ones.
• Proactively develop solutions to product challenges and gain buy-in from key stakeholders to adopt recommendations.
• Manage the design, development, and implementation of system and process solutions that align with the product’s strategy.
• Identify and test new products, markets or partnership opportunities or enhance existing ones by collaborating with stakeholders and other entities and vendors.
• Lead and guide a team for product enhancement work including launch and rollout plans related to product strategies and action plans.
• Ensure strategies and plans address compliance needs and regulatory requirements.
• Oversee development of communication, training, and marketing materials in support of new or enhanced products and initiatives.
• Manage monitoring and measurement mechanisms for product strategies and initiatives in support of outlined strategic success criteria and present findings and recommendations to leadership.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Bachelor's Degree.
• Six years of product development experience preferably in the financial services industry.
• One year people management experience
• Insurance experience with expert understanding of products, underwriting, coverage, rules, forms, regulatory environment, risk management, pricing/filing processes and insurance financials.
• Able to interpret business specific translations and solutions.
• Excellent communication and presentation skills with the ability to interact and influence management.
• Proven innovation skills including thinking critically about multiple perspectives and approaches to solving problems.
• Has deep understanding of Travelers' business strategy and plan objectives to align with enterprise goals.
• Excellent analytical skills with the ability to evaluate and understand current data and systems, find deficiencies/opportunities, recommend changes, and translate into business impacts.
• Excellent storyteller for relaying information, interacting, and influencing all levels of the organization.
• Demonstrated leadership skills with the ability to manage change, develop employees, and align resources to accomplish key objectives.

What is a Must Have?

• Bachelor's Degree or equivalent combination of education and experience.
• Four years of relevant experience with insurance products, underwriting, coverage, rules, compliance/regulatory environment, and/or insurance financials.

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, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.
• 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.

In accordance with local law, candidates seeking employment in Colorado are not required to disclose dates of attendance at or graduation from educational institutions.

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/.