Director, Product Development

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. 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.