Director, Product Development - Auto

Travelers-posted 13 days ago

Full-time • Director

Hartford, CT

5,001-10,000 employees

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In this role, you will be responsible for supporting the Auto Product Strategy and leading the reimagination of the key elements that comprise an Auto product. This includes partnership across the organization to understand customer and distribution partner needs, the latest in segmentation and third-party data, and the competitive landscape, to design the future of our Auto Insurance offering. Recommendations from the cross functional teams will be frequently discussed and reviewed with senior leadership in which executive presence, content creation and depth of knowledge will be expected. Product 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, you manage the analysis and evaluation of market and product opportunities that deliver product development and product enhancements to the marketplace. In this role you will lead the development and management of new and existing products, product strategies and solutions including monitoring and evaluating product performance and creating action plans. This position may coach, provide feedback, and/or oversee a team.

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.

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.

Bachelor's Degree.
Six years of product development experience preferably in the financial services industry.
One year 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.

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.

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