Product Development Manager - Competitor Intel

$96,600 - $159,300/Yr

020 Travelers Indemnity Co - Hartford, CT

Full-time - Manager

Hartford, CT

10,001+ employees

About the position

As the Manager of PI Competitive Intelligence at Travelers, you will play a pivotal role in shaping the product strategies that drive our financial objectives, including growth, profit, and retention. This position is integral to the Product Development teams, which are essential for the success of our insurance products. You will be responsible for managing competitive intelligence requests from various business partners and leadership, ensuring that materials are delivered in a timely manner. Your role will involve conducting in-depth product reviews of top-tier competitors and sharing your findings with PI Product Leadership and other stakeholders. Additionally, you will own and advance the PI Competitive Intelligence vision and strategy, which may include coaching and providing feedback to team members or managing employees directly. In this role, you will develop, execute, and enhance product strategies and actions, including defining business scope, go-to-market strategies, and implementing agile methodologies to meet our financial objectives. Collaboration will be key as you work with key stakeholders to influence strategies and gain consensus on recommendations. You will lead detailed market, competitor, and consumer research analysis to identify opportunities for new products, markets, and services, or to enhance existing offerings. Your analytical skills will be crucial as you identify root causes of issues and recommend solutions while ensuring alignment with key stakeholders. You will also design, develop, and implement system and process solutions that align with the product's strategy. This includes actively collaborating with various teams, such as Product Management, Customer Experience, and Sales/Marketing, to identify and test new products or markets. You will independently analyze data to drive recommendations for new or existing products and partner with data analytic teams when appropriate. Your responsibilities will also include leading product enhancement work, ensuring compliance with regulatory requirements, and developing communication, training, and marketing materials to support new or enhanced products. Finally, you will outline post-implementation monitoring and measurement mechanisms to assess the success of product strategies and initiatives, presenting your findings and recommendations to leadership.

Responsibilities

• Manage competitive intelligence requests from business partners and leadership, ensuring timely delivery of materials.
• Conduct in-depth product reviews of top-tier competitors and share findings with PI Product Leadership and other stakeholders.
• Own and advance the PI Competitive Intelligence vision and strategy.
• Develop, execute, and enhance product strategies and actions including business scope, go-to-market strategies, and agile methodologies.
• Collaborate and influence strategies and associated action plans with key stakeholders to gain consensus for recommendations.
• Lead detailed market, competitor, and consumer research analysis to identify and recommend new products, markets, and services or enhance existing ones.
• Identify opportunities of existing and future products through root-cause analysis and recommend solutions while ensuring key stakeholders are aligned on the strategy.
• Design, develop, and implement system and process solutions that align with the product's strategy.
• Actively collaborate with stakeholders and other entities and vendors to identify and test new products or markets or enhance existing ones.
• Independently analyze and drive recommendations for new or existing products by accessing and utilizing data.
• Lead 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.
• Develop communication, training, and marketing materials in support of new or enhanced products and initiatives.
• Outline post-implementation monitoring and measurement mechanisms for product strategies and initiatives in support of outlined success criteria.

Requirements

• Bachelor's Degree.
• Four years of product development experience preferably in the financial services industry.
• Insurance experience with understanding of products, underwriting, coverage, rules, forms, regulatory environment, risk management, pricing/filing processes and insurance financials.
• Ability to think strategically and use judgment to resolve issues as they arise.
• 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.
• Strong innovation skills including thinking critically about multiple perspectives and approaches to solving problems.
• Excellent communication and presentation skills with the ability to interact and influence management.
• Ability to coach and lead cross-functional teams on growth strategies, products, and objectives.
• Demonstrated ability to interact and influence across levels and organizations, including consensus and team building.

Nice-to-haves

• Experience in the insurance industry with a focus on competitive intelligence.
• Familiarity with agile methodologies and product management tools.

Benefits

• Health Insurance: Coverage for employees and their eligible family members from the first day of employment.
• 401(k) Retirement Plan: Travelers matches contributions dollar-for-dollar up to the first 5% of eligible pay, and offers a Pension Plan that is 100% funded by Travelers.
• Paid Time Off: Minimum of 20 days annually, plus nine paid company holidays.
• Wellness Program: Tools, discounts, and resources to achieve wellness goals, including mental health support.
• Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support charitable contributions.