Director Product Development

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

$123,400.00 - $203,600.001Product 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 Dir, Product Development, Northfield Excess and Surplus Lines, you lead policy coverage form development for Northfield, Travelers’ non-admitted program written in all 50 states and DC.

You will have responsibility for crafting E&S coverage forms, rules and guidelines behind Northfield’s lines of business including General Liability, Property, Excess, and other misc. lines such as Inland Marine. Northfield’s policies sold through appointed wholesalers in the Binding and Brokerage Solutions channels. This position may coach, provide feedback and/or oversee a team.

What Will You Do?

• Lead coverage form development for Northfield E&S to achieve business objectives including growth, profit and retention objectives, influencing key stakeholders to gain consensus on recommendations.
• Own proprietary and manuscript coverage form and endorsements that support unique E&S terms and conditions, partnering with BI Product Development on drafting, PDCA review and other teams for NorthLink implementation.
• 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 Excess and Surplus Lines or commercial insurance.
• One year people management experience.
• Expert understanding of non-admitted products, underwriting, coverage, rules, forms, and the insurance regulatory environment across GL, Property, Excess Casualty, Inland Marine and Auto Liability.
• Familiarity with wholesale distribution, including binding authority and brokerage models.
• 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.