Director, Product Development

Reposted 14 Days Ago
Be an Early Applicant
Hartford, CT
In-Office
120K-199K Annually
Senior level
Insurance
The Role
The Director of Product Development will lead the assessment and enhancement of insurance products, develop strategies, manage teams, and ensure compliance and market success.
Summary Generated by Built In
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.

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$120,400.00 - $198,700.00

Target Openings
1

What Is the Opportunity?
The Product Development teams play a critical role in achieving 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 Director, Product Development, you will lead the evaluation of market and product opportunities and guide the development of product enhancements and innovations to the marketplace. In this role you will be responsible for developing and managing new and existing products, driving product strategies and solutions, and monitoring product performance to ensure continued success. This position will also lead the Boiler Product Development team, which includes direct Boiler and BoilerRe businesses, and will be responsible for coaching, providing feedback and overseeing team members.What Will You Do?
  • Lead the development, execution and enhancement of product strategies and actions including business scope, go-to-market strategies, and agile methodologies by influencing key stakeholders to achieve financial objectives.
  • 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 the financial services industry.
  • Prior people management experience
  • Insurance experience with expert understanding of products, underwriting, coverage, rules, forms, regulatory environment, risk management, pricing/filing processes and insurance financials.
  • 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.
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, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.
  • 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.
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. 

In accordance with local law, candidates seeking employment in Colorado are not required to disclose dates of attendance at or graduation from educational institutions.

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/.

Am I A Good Fit?
beta
Get Personalized Job Insights.
Our AI-powered fit analysis compares your resume with a job listing so you know if your skills & experience align.

The Company
HQ: New York, NY
35,118 Employees

What We Do

Travelers provides insurance coverage to protect the things that are important to you – your home, your car, your valuables and your business. We have been around for more than 165 years and have earned a reputation as one of the best property casualty insurers in the industry because we take care of our customers, agents, brokers, communities and each other.

Every day, our approximately 30,000 employees and 13,500 independent agents and brokers in the United States, Canada, the United Kingdom and Ireland help provide peace of mind to our customers.

Our expertise and focus on innovation have made us an industry leader and the only property casualty company in the Dow Jones Industrial Average. Our history of advancements has propelled our company, and our industry, to deliver higher standards – from writing the first auto and space travel policies to founding the Travelers Institute for public policy and launching a hybrid car discount.

By minimizing risk, preventing loss and helping our customers prepare for the unknown, Travelers’ comprehensive products and services enable individuals and businesses to feel confident and secure about the future.

Similar Jobs

DIRECTV Logo DIRECTV

Sr. Director – Technical Product Development – Operations Apps

Consumer Web • Digital Media • Information Technology • News + Entertainment • On-Demand
In-Office or Remote
2 Locations
12000 Employees
179K-325K Annually

Spin Master Logo Spin Master

Director, Product Development

Kids + Family • Marketing Tech • Mobile • News + Entertainment • Retail
In-Office
Wilton, CT, USA
1909 Employees
175K-200K Annually
In-Office
2 Locations
1254 Employees
160K-239K Annually

Similar Companies Hiring

Globe Life Thumbnail
Insurance
McKinney, TX
1657 Employees
MassMutual India Thumbnail
Insurance • Information Technology • Fintech • Financial Services • Big Data
Hyderabad, Telangana
Granted Thumbnail
Mobile • Insurance • Healthtech • Financial Services • Artificial Intelligence
New York, New York
23 Employees

Sign up now Access later

Create Free Account

Please log in or sign up to report this job.

Create Free Account