Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.
Supports the strategic and operations functions for Commercial Accounts IndustryEdge. Supports the overall profitability, growth and retention of the product line or industry and consistency of all related underwriting initiatives.
Position Summary At-A-Glance
- Insurance product development support for the business strategic initiatives of the Travelers Bond & Specialty Insurance (B&SI) division, with emphasis on Management Liability products
- Within B&SI, business unit groups served range from non-profit, private, publicly-traded, and financial institutions to professional service firms
- Breath of insurance products range from Management Liability, Professional Liability, to Crime and Fidelity
- Excellent communication skills (oral & written) that translate into sound policy form drafting, business issue resolution, and product training
- Strong analytical & critical thinking skills that serve in problem solving and business issue resolution
- Strong organization and prioritization skills that serve to establish sound project plans and help with executing product or project management tasks
- Strong interpersonal, leadership, and project management skills that translate into strong teamwork and consultative service to drive effective business results
Overall Position Summary:
Support strategic objectives and operations for B&SI, including product development, compliance, and wide range of policy form-related project management initiatives across Management Liability (e.g., Directors & Officers, Employment Practices, etc.), Professional Liability (e.g., Accountants, Lawyers, etc.) and Crime, Fidelity, or other first party expense coverage (e.g., Cyber, Kidnap Ransom, etc.) products for Financial Institution, Private & Non-Profit, Professional, and Public Company business units.
Primary Duties & Responsibilities:
Expected to effectively and successfully perform the following duties:
- Lead and collaborate with Business Unit customers and other partnering groups (e.g., Claims, Legal, Regulatory, etc.) to manage projects and initiatives to successful completion.
- Manage and promote product consistency, integrity, and quality, with a customer-focus.
- Develop, maintain, consult, and train on insurance products.
- Convert strong writing skills into sound form drafting, incorporating comprehension of coverage concepts and policy contract framework.
- Apply strong analytical & critical thinking skills that foster creative solutions for insurance coverage issues or improving department processes.
- Breakdown and articulate complex business and insurance coverage concepts.
- Identify and educate business customers on internal and external product and compliance trends, opportunities, and emerging issues.
- 5+ years of established work experience, preferably in insurance underwriting or equivalent
- General computer skills (Word, Excel, PowerPoint)
- Excellent oral & written communication and presentation skills
- Strong analytical, critical thinking, and problem solving skills
- Strong interpersonal and leadership skills to collaborate effectively as a team and business partner
- Strong initiative and organization skills to manage workload to meet deadlines and achieve superior delivery and quality results
- Ability to leverage internal business resources to resolve and arrive at more thoughtful outcomes
- Ability to effectively manage and adapt to multiple projects, customer demands, and changing priorities while balancing competing priorities and deadlines
- Knowledge of state insurance regulatory environment
Education & Work Experience:
- College degree or higher
- Insurance underwriting, claims, legal, regulatory, or other relevant experience
- Experience working with Management liability insurance products preferred
Primary Job Duties & Responsibilities
Conduct research and analyzes the pros and cons of a new product offering to support Commercial Accounts. May gather data on corporate exposure, claim analysis, actuarial data, etc to support a corporate position. Works collaboratively with business units to support product line strategy in the business and/or Business Insurance. Recommends underwriting policies and standards which support the development of assigned product and services such as researching and identifying target business, competitor information, industry and economic factors across Commercial Accounts or Business Insurance. May prepare the analysis and gather data to support the corporate underwriting policies/standards on topics of broad interest or national exposure such as catastrophes, terrorism, bird flu, global warming as respects to assigned Industries or Enterprise positions. Works closely with actuarial staff to assure that forms and filings are supportive of the product and the organization. May collect and analyze claim data to determine if claim initiatives are aligned with product line strategy. Monitor product results (i.e., line profitability analysis, quarterly loss trends, utilization/productivity, etc.) and make recommendations for corrective action as necessary. May prepare finding and analyze data in support of the company's position on the assigned product to respond to requests from regulators or state/national agencies. May conduct training for UPDPs or other employees on the product of expertise. Will provide guidance to field staff on product specific issues.
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.
Education, Work Experience & Knowledge
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.
Job Specific & Technical Skills & Competencies
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 state product strategies, underwriting strategies, and inter-relationships with coverage. Advanced critical thinking and analysis skills to understand state specific results, state underwriting results, and competitor actions in order to recommend state specific actions. Advanced ability to assess state specific underwriting and financial results. Actively invests in improving own capabilities.
Licensing or Certificates
Preferred: matriculation in CPCU, IIA, or other recognized insurance designations (examples: ARM, CIC) Preferred Job Specific Technical Skills and Competencies
Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.
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