Commercial Crime Product Manager (Underwriting Director)
Primary Job Duties & Responsibilities
Core Product Management Functions:
Product Strategy – In consultation with Senior Management and in support of Business Unit objectives, develop and communicate product strategies and all relevant information to field and home office underwriting staffs. Develop and communicate underwriting guidelines for Commercial Crime and Kidnap & Ransom insurance products. Provide leadership, including technical support, for execution of stated strategies.
Product Performance Measurement – Conduct Portfolio Review presentations for Senior Management, offering statistical measurements and analysis of product performance against stated strategy.
Underwriting – Assist field and home office underwriting staff in achieving budgeted Commercial Crime and Kidnap & Ransom financial results (e.g. premium, loss ratio, business retention, commission and new business production objectives, etc.). The job will include direct account underwriting as needed. Assist field and home office underwriting staffs in implementing and adhering to the established strategies and guidelines. Provide underwriting approval authority for Commercial Crime and Kidnap & Ransom accounts requiring over-authority approval.
Marketing / Product Promotion - Support the sales goals and plans of Business Units and field offices. Help build producer relationships through direct and indirect contact. Lead in the development and dissemination of marketing support material / tools and product Risk Management information.
Training – Develop training materials applicable to all levels of field office and home office underwriting staff. Lead and directly participate in training of personnel.
Portfolio Management — Monitor and manage the Commercial Crime and Kidnap & Ransom books of business across all Bond & Specialty Insurance Business Units – with goals of maintaining profitability, premium growth, product quality and underwriting consistency.
Monitor competitive circumstances and new marketplace trends. Assess new exposures and risk relevant to Commercial Crime and Kidnap & Ransom policies.
Communicate updated underwriting strategies and tactics as needed.
Measure results and provide recommended direction to Senior Management for the maintenance of profitability and growth of the Commercial Crime and Kidnap & Ransom Products. Prepare bi-annual Portfolio Reviews for Senior Management.
Subject Matter Expert – The position is expected to develop into an internal and external subject matter expert for the entire Travelers enterprise as respects all facets of Commercial Crime and Kidnap & Ransom business.
Communication – The position entails written and verbal communication regarding all aspects of Commercial Crime and Kidnap & Ransom products on a regular basis to a wide range of constituents, including, Senior Managers, underwriting and claims personnel, producers and other interested parties. The communications can include external presentations, as well as, interaction with media sources.
Underwriting Support / Business Development – Assist Field and Home Office personnel with business development including all efforts associated with achieving budgeted financial results. Deliver prioritized service to the business units within Bond & Specialty Insurance.
Product Promotion – Develop, communicate and implement strategies which will effectively promote Commercial Crime and Kidnap & Ransom products. Collaborate with Bond Marketing staff and Travelers Lloyds’ Syndicate to produce materials which highlight the products and contribute to profitable growth. Identify promotional opportunities for the products.
Training – Collaborate in the development of relevant training materials for Commercial Crime and Kidnap & Ransom products and underwriting. Participate in formal company training activities. Regularly promote the growth and development of less experienced staff members through training and educational opportunities – both formal and informal.
Primary Location: Hartford - Connecticut - United States
Secondary Locations: New York City - New York - United States, Philadelphia - Pennsylvania - United States
Job Category: Project/Operations Management, Underwriting
Position Type: Experienced/Professional
Target Openings: 1
Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.
Carry out the core functions of Product Management for Commercial Crime and Kidnap & Ransom insurance products underwritten within Bond & Specialty Insurance.
The position requires regular collaboration and on-going work relationships with the following groups: Actuarial, Legal, Compliance, Claim, Marketing, Operations, Product Solutions, Bond & Specialty Insurance’ Business Units, Travelers Enterprise Business Units, Travelers – Lloyds’ of London Syndicate, Travelers - Canada and external Producers.
The position will involve moderate travel to Field Offices, Producers and Insureds.
5 years of relevant Underwriting experience
Job Specific & Technical Skills & Competencies
Advanced analytical skills. Demonstrate an ability to analyze complex issues in order to determine exposures and successful underwriting and coverage solutions.
Ability to provide clear and detailed written and oral communications to all constituents.
Ability to overcome obstacles and solve problems.
Work well independently while maintaining a team approach to fulfilling core purposes. Must be able to work in a collaborative environment with many different constituencies.
Qualify for and utilize higher level of underwriting authority based on underwriting and product expertise.
Demonstrate operational excellence by complying with policies, procedures and strategies, while maintaining an organized and prioritized workload.
Demonstrate excellent customer service skills through responsiveness, accuracy and proactive thinking. Must be seen as a solutions provider.
College degree or equivalent
Operates standard office equipment. Requires extended periods of computer use. Requires extended periods of sitting.
Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.