Product Development Manager - Competitor Intel

$96,600 - $159,300/Yr

Travelers - Juneau, AK

Full-time - Mid Level

Juneau, AK

5,001-10,000 employees

Insurance Carriers and Related Activities

About the position

As the Product Development Manager for Competitive Intelligence at Travelers Insurance Company, you will play a pivotal role in shaping the product strategies that drive the company's financial objectives, including growth, profit, and retention. This position is integral to the Product Development teams, which are responsible for the development, implementation, and monitoring of product strategies across various insurance products. You will manage competitive intelligence requests from 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 Product Leadership and other stakeholders. Additionally, you will be responsible for advancing the vision and strategy of the Competitive Intelligence function within the organization. In this role, you will develop, execute, and enhance product strategies and actions, including defining the business scope, go-to-market strategies, and employing agile methodologies to meet financial objectives. Collaboration will be key, as you will work closely 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 in identifying root causes of issues and recommending solutions while ensuring alignment with key stakeholders. You will also design and implement system and process solutions that align with product strategies, actively collaborating with various teams, including Product Management, Customer Experience, and Sales/Marketing, to identify and test new products or markets. Your responsibilities will include leading product enhancement initiatives, ensuring compliance with regulatory requirements, and developing communication, training, and marketing materials to support new or enhanced products. You will outline post-implementation monitoring mechanisms to measure the success of product strategies and present your findings to leadership. This role may also involve coaching and providing feedback to team members, contributing to their professional development.

Responsibilities

• Develop, execute, and enhance product strategies and actions including business scope, go-to-market strategies, and agile methodologies to achieve financial objectives.
• Collaborate and influence strategies and associated action plans with key stakeholders and related initiatives 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 and develop strategic partnership opportunities.
• Independently analyze and drive recommendations for new or existing products by accessing and utilizing data to update.
• Lead product enhancement work including launch and rollout plans related to product strategies and action plans, ensuring compliance needs and regulatory requirements are addressed.
• Develop communication, training, and marketing materials in support of new or enhanced products and initiatives and deliver training to stakeholders when appropriate.
• Outline post implementation monitoring and measurement mechanisms for product strategies and initiatives in support of outlined success criteria and present findings and recommendations to leadership.
• Perform other duties as assigned.

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 team(s) 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 product development and competitive intelligence.
• Familiarity with agile methodologies and product management tools.
• Strong project management skills.

Benefits

• Health Insurance: Employees and their eligible family members 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.
• 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 includes tools, discounts, and resources to achieve wellness goals and caregiving needs, along with access to free professional counseling services.
• Volunteer Encouragement: Travelers encourages employees to get involved in their communities with a Matching Gift and Volunteer Rewards program.