VP, Product Manager II - Personal Insurance New England Region

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

$177,900.00 - $293,600.00

Target Openings

1

What Is the Opportunity?

As a VP, Product Manager II, you will partner with Distribution Partners, Operations, & Claim leadership – plus all other relevant business unit functional areas - to manage the overall profitability and growth of automobile and property products for the states within your assigned region. You will collaborate with business partners to formulate, develop and execute local and countrywide line of business strategies to be implemented at a regional level. You will also play a critical role in the ongoing development of Product Management capabilities, including product insight, talent development, and enhancement of a culture aimed at rewarding innovative behaviors that influence regional execution. You will lead discussions with the senior leadership regarding health of your region and near / long term planning.What Will You Do?

• Lead a technical product management team to direct the analysis process and make trend selections and rate and underwriting recommendations to meet profitability goals.
• Collaborate with Distribution Partners to develop state profit and growth strategies, including product positioning and marketing.
• Execute and lead countrywide product management initiatives at a regional level.
• Develop the rate revision schedule with the systems integration team and field organization.
• 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.
• Negotiate rate changes with various channels and formulate business review packages to document the rate changes.
• Partner with Personal Insurance internal regulatory/filing unit to respond to the department of insurance for rate filings and market conduct exams and serves as a consultant on consumer complaints and other interactions.
• Accountable for implementation of standing orders, Countrywide and Underwriting, and pricing guidance.
• Actively manage and address media inquiries related to local market actions.
• Lead a team, in conjunction with functional partners, to complete financial analysis of territory results and impact on strategy for assigned region; present results to senior management.
• Partner with Distribution partners to build expertise on regional strategies. Develop a comprehensive understanding of competitors and alternative markets within assigned region.
• Build and maintain relationships with state regulators by attending regulatory meetings (i.e., IRES, and SERA), insurance department visits, and participation in industry group meetings.
• Attract, develop, motivate and retain critical talent.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Eight years of product management experience, with experience in senior-level general management and an in-depth knowledge of two or more personal product lines.

• Comprehensive P&C industry knowledge with deep knowledge of pricing and actuarial.

• Ability to lead leaders and build, motivate, and develop team members.

• Demonstrated ability to combine quantitative analysis with local market insight.

• Demonstrated ability to recognizes the broader impact of recommendations across business lines.

• Other critical skills include problem solving, influencing with and without authority, conflict management, and communication.

What is a Must Have?

• Bachelor's Degree or equivalent combination of education and experience.

• Six years of product management or related experience.

• Four years of experience in data analytics.

• Two years of Profit/Loss management experience.

• Four years of managing others.

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/.