Product Management Development Program (PMDP) Pricing Analyst

Travelers; Hartford (CT); On-site; USD 64,000 - 105,000; Full time

Job summary

Travelers invites applications for the Product Management Development Program (PMDP) in the Hartford area. Participants will rotate through Personal Insurance and Business Insurance, gaining hands-on experience in product pricing, development, and management while learning technical and industry skills.

During the one-year program you will work with leadership teams on data-driven decisions, pricing analyses, and cross-functional collaboration to drive profitability and growth.

Qualifications

• Bachelor's degree required.
• Experience in mathematics, statistics, data analytics, or related areas.
• Intermediate to advanced proficiency with Microsoft Excel.

Responsibilities

• Participate in specialized training on insurance, actuarial, underwriting, and develop and enhance technical/data analysis skills.
• Support data analysis of business results including product refreshes, performance expectations and identifying root causes.
• Complete analyses with high level of accuracy, such as loss and production analyses, cross-market and cross-state projects, and competitive intelligence projects.
• Consult with Business Intelligence and Analytics teams on trends and pricing decisions.
• Collaborate with different teams across the enterprise, including Sales, Actuarial, Underwriting, supporting team efforts to drive product profitability.
• Take the initiative on tasks with the ability to learn the P&C insurance industry, extract and analyze competitive data, and leverage technical/data analytic skills.
• Present, inform and with guidance make recommendations to assigned team including proposed product/pricing changes or new product builds.
• Leverage modern analytical and artificial intelligence (AI) tools/platforms, applying critical thinking to evaluate the limitations, quality, and accuracy of AI-assisted outputs.

Skills

Data analysis

Education

Bachelor's degree

Tools

Microsoft Excel

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.

Job Category

Product

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

$63,800.00 - $105,400.00

Target Openings

10

What Is the Opportunity?

Legally authorized to work in the United States now and in the future. Applicants must be authorized to work for ANY employer in the U.S. The company does not sponsor/support H-1B petitions, TN, or Forms I-983/STEM OPT, for this role. Innovative thinking, data driven problem solving, and strong collaboration skills, these are some of the defining qualities for participants of our Product Management Development Program (PMDP). Within the Product team at Travelers, you will have the opportunity to learn and engage in unique and intellectually stimulating business problems. This hands-on, one-year development program will prepare you for a career in Product Insurance pricing, development, and management while learning technical industry skills and real-world experience working with different product teams and leaders. During this rotational program, you will experience facets of Product Management across areas of Personal Insurance and Business Insurance.

Applications for this posting will be reviewed on a rolling basis beginning in early September.

What Will You Do?

• Participate in specialized training on insurance, actuarial, underwriting, and develop and enhance technical/data analysis skills working alongside members of our leadership teams, strengthening your abilities to think critically, creatively, and strategically.
• Support data analysis of business results including product refreshes, performance expectations and identifying root causes.
• Complete analyses with high level of accuracy, such as loss and production analyses, cross-market and cross-state projects, and competitive intelligence projects.
• Consult with Business Intelligence and Analytics teams on trends and pricing decisions. Review refined recommendations with State Teams on actions to take within particular states based on discussions.
• Collaborate with different teams across the enterprise, including Sales, Actuarial, Underwriting, supporting team efforts to drive product profitability and accomplish team objectives.
• Take the initiative on tasks with the ability to learn the P&C insurance industry, extract and analyze competitive data, and leverage technical/data analytic skills.
• Present, inform and with guidance make recommendations to assigned team including proposed product/pricing changes or new product builds.
• Leverage modern analytical and artificial intelligence (AI) tools/platforms, applying critical thinking to evaluate the limitations, quality, and accuracy of AI-assisted outputs.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Suggested degree majors include Finance, Economics, Mathematics, Actuarial Science, Risk Management and Insurance, Statistics or other analytical or business-related fields.
• Prior work or internship experience in mathematics, statistics, data analytics, or related areas.
• Intermediate to advanced proficiency with Microsoft Excel.

What is a Must Have?

• Bachelor's degree.

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 hea