AVP, Product Management - CMP

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 160 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

$131,100.00 - $216,300.00

Target Openings

1

What Is the Opportunity?

Within the Product team at Travelers, you will have the opportunity to regularly engage in unique and intellectually stimulating business problems. As a AVP, Product Management, you will be responsible for the profit and loss of a state(s), product, or line of business, including having oversight of competitor & market analyses, financial line leadership, and influencing business strategies related to the product line. You will leverage your broad understanding of a product line/line of business, you recognize how certain trends have an impact across multiple state(s), product, or line of business and translate ambiguous business needs into strategies and solutions. You will collaborate, partner, and influence business partners to understand the line of business strategy, incorporating market and state level dynamics and be responsible for talent development, resource planning and assignments to ensure work is delivered on time with a high degree of quality.

What Will You Do?

• Lead a team to direct the analyses to solve business problems and determine trends and apply judgment appropriately to meet profitability goals and collaborate with peers and partners to take actions to enhance business outcomes and communicate key profit metrics.
• Partner with key stakeholders (sales, underwriting, etc.) to develop profit and growth strategies including product positioning and marketing approach and coordinate the rate revision schedule with the systems integration team and field organization.
• Negotiate rate changes with various channels and formulate business review packages to document the rate changes and build expertise on regional strategies.
• Make fact based strategic decisions based on a knowledge of the market, which includes competitors, regulatory and legal environment, claims handling trend, and distribution channel/agent relationships.
• Develop and maintain relationships with state regulators by attending regulatory meetings (i.e., IRES, and SERA), insurance department visits, and participation in industry group meetings.
• Present strategic overviews of assigned region to senior management.
• Assess, prioritize, influence, and communicate strategic initiative options to senior leaders of production, analysis, project results, and other business initiatives.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Bachelor’s degree in Business Management/Administration, Mathematics, Finance, Actuarial Science, Economics, or other analytics related field.
• Eight years’ experience working in a mathematical, analytical, or data related role preferably in the financial services industry.
• Has deep understanding of Travelers' business strategy and plan objectives to align with enterprise goals.
• Excellent communication skills with the ability to interact and influence with all levels of the organization.
• Exceptional data analysis skills with the ability to interpret trends and report insights and recommendations to business partners.
• Proven leadership skills with the ability to manage change, develop employees, and align resources to accomplish key objectives.
• Thorough knowledge of pricing and actuarial techniques and understanding of actuarial concepts such as loss development and trending.
• Expert understanding of workflow and terminology of insurance products and processes and their impact on profit and loss.

What is a Must Have?

• Bachelor's Degree or equivalent combination of education and experience.
• Six years of experience in data analytics or similar work experience.

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