Manager, Product Development - Business Insurance Property

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.

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

$101,300.00 - $167,000.001Product Development teams play a critical role in the 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 Mgr, Product Development, you will implement rigorous analysis and evaluation of market and product opportunities. You will deliver product development and product enhancements to the marketplace. In this role you will develop and implement new and existing products and solutions including monitoring and evaluating product performance and action plans. This position may coach, provide feedback, and/or manage employees.

What Will You Do?

• Develop, execute, and enhance product strategies and actions including business scope, go-to-market strategies, and agile methodologies to achieve financial objectives.
• Collaborate and influence strategies and associated action plans with key stakeholders and related initiatives to gain consensus for recommendations.
• Lead detailed market, competitor, and consumer research analysis to identify and recommend new products, markets and services or enhance existing ones.
• Identify opportunities of existing and future products through root-cause analysis and recommend solutions while ensuring key stakeholders are aligned on the strategy.
• Design, develop and implement system and process solutions that align with the product’s strategy.
• Actively collaborate with stakeholders and other entities and vendors (Product Management teams, Customer Experience, Sales/Marketing and other business unit teams) to identify and test new products or markets or enhance existing ones and develop strategic partnership opportunities.
• Independently analyze and drive recommendations for new or existing products by accessing and utilizing data to update. When appropriate, partner with data analytic teams to support recommendations.
• Lead 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.
• Develop communication, training, and marketing materials in support of new or enhanced products and initiatives and deliver training to stakeholders when appropriate.
• Outline post implementation monitoring and measurement mechanisms for product strategies and initiatives in support of outlined success criteria and present findings and recommendations to leadership.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Bachelor’s Degree.
• Four years of product development experience preferably in the financial services industry.
• Insurance experience with understanding of products, underwriting, coverage, rules, forms, regulatory environment, risk management, pricing/filing processes and insurance financials.
• Ability to think strategically and use judgment to resolve issues as they arise.
• 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.
• Have strong innovation skills including thinking critically about multiple perspectives and approaches to solving problems.
• Excellent communication and presentation skills with the ability to interact and influence management.
• Coach and lead cross functional team(s) on growth strategies, products, and objectives.
• Demonstrated ability to interact and influence across levels and organizations, including consensus and team building.

What is a Must Have?

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