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VP Product Workers Comp

Hartford, Connecticut

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.

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

$168,500.00 - $269,700.00

Target Openings

1

What Is the Opportunity?

Responsible and accountable for the strategic and operations functions of Workers Comp Product. Assures overall profitability, growth and retention of the product line or portfolio and consistency of all related underwriting and product initiatives.

Lead Line Management and Product Development teams for Workers Comp line:

  • Provides expert opinion in and expanded enterprise or business position review when product proposals are presented. This includes an analysis of pros and cons; findings and investigations conducted; analysis of corporate exposure and the identification of enterprise or business opportunity.
  • Works collaboratively with business unit leaders to determine product line strategy in business and/or Business Insurance.
  • Coordinates with actuarial to ensure there is a consistent approach to assigned product with in LOB and across the business and/or Business Insurance.
  • Coordinates with Claim to ensure that claim initiatives are aligned with product line strategy.
  • Develops and implements monitoring standards to assess product results such as profitability analysis, quarterly loss trends, payout and claims management strategies etc., and recommends corrective actions.
  • Represents the company's position on assigned product line issues at the state and national level on regulatory issues, rates, filings, and political questions.
  • Directs the maintenance of forms and rate filings for product line and related products. This includes initial form and rate filings (proprietary pricing and NCCI) as well as subsequent responses to insurance departments.
  • Directs the analysis of information to support the development of product, services and/or new programs that may be appropriate for business and/or Enterprise development.
  • May conduct training for UDPs or other employees on the product of expertise. May provide counsel and guidance to field staff on product specific issues.

What Will Our Ideal Candidate Have?

  • Master's Degree
  • 10 years of Business Insurance product (non-rate) experience.
  • 10 years of Business Insurance in the areas of policy and/or non-policy form work or similar type work.
  • Business insurance forms/product development, claims or legal experience.
  • Master (expert) understanding of property and casualty insurance products, systems, underwriting, claims, distribution channels, regulatory
  • Comprehensive knowledge of Microsoft Office Visio
  • Comprehensive knowledge of Impromptu or similar query tool.
  • Leading the Business:
  • Strong, expert (master) leadership, collaboration, influencing and change management communication skills.
  • Strategic thinking and planning skills.
  • Results driven with a focus on priority results over activity.
  • Customer-focused orientation (agent and consumer).
  • Demonstrates expert (master) understanding of Business Insurance.
  • Leading Self:  Expert (master) oral and written communication skills with ability to influence at all levels of the organization. Includes the ability to communicate intent of contract and non-policy form language to all levels of the organization. Includes creating and drafting forms. Expert presentation skills.
  • Expert organization and time management skills. Attention to detail.
  • Master (expert) ability to comprehend and communicate intent of state product strategies, underwriting strategies, and inter-relationships with coverage. Ability to mentor, coach and train others to develop this skill.
  • Master (expert) critical thinking and analysis skills to understand state specific results, underwriting results, and competitor actions in order to recommend state specific actions. Advanced ability to assess quality of state specific underwriting and financial results.
  • Master (expert) problem solving skills with ability to ensure alignment of team with PI product strategies, philosophies and vision.
  • Actively invests in improving own capabilities.
  • Leading Others:
  • Coaching and talent development skills (expert/master) including ability to mentor and motivate others
  • Advanced ability to maximize individual and organizational performance. Resource and capacity management skills.
  • Holds others accountable.
  • Preferred: CPCU, IIA or other recognized insurance designations (Examples: ARM, CIC)

What is a Must Have?

  • Bachelor's degree required.
  • 5 years leadership and management of others experience required.
  • 10 years insurance experience with advanced understanding of products, underwriting coverage, rules, forms, regulatory environment, risk management, pricing/filing processes, underwriting processes, and insurance financials required.
  • Intermediate knowledge of Microsoft office products (Excel, Word, PowerPoint) required. 

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 and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Travelers offers a hybrid work location model that is designed to support flexibility. #LI-Hybrid

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences. 


If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.


Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.


About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.