Product Development Manager - Competitor Intel

$96,600 - $159,300/Yr

Travelers - Trenton, NJ

Full-time - Mid Level

Trenton, NJ

Insurance Carriers and Related Activities

About the position

Travelers Insurance Company is seeking a Product Development Manager specializing in Competitor Intelligence to join our team in Trenton, NJ. This role is pivotal in driving the financial objectives of our product development teams, which play a critical role in achieving growth, profit, and retention for our insurance products. The successful candidate will manage competitive intelligence requests from business partners and leadership, ensuring timely delivery of materials that inform our product strategies. This position involves conducting in-depth product reviews of top-tier competitors and sharing findings with Product Leadership and other stakeholders. Additionally, the manager will own and advance the Competitive Intelligence vision and strategy, which is essential for maintaining our competitive edge in the market. In this role, you will develop, execute, and enhance product strategies and actions, including business scope, go-to-market strategies, and agile methodologies to achieve our financial objectives. Collaboration is key; you will work closely with key stakeholders to influence strategies and action plans, ensuring consensus for recommendations. Your analytical skills will be put to the test as you lead detailed market, competitor, and consumer research analysis to identify and recommend new products, markets, and services or enhance existing ones. You will also identify opportunities for existing and future products through root-cause analysis and recommend solutions while ensuring alignment with key stakeholders. The position requires designing, developing, and implementing system and process solutions that align with the product's strategy. You will actively collaborate with various stakeholders, including Product Management teams, Customer Experience, Sales/Marketing, and other business units, to identify and test new products or markets or enhance existing ones. Additionally, you will lead product enhancement work, including launch and rollout plans related to product strategies and action plans, ensuring compliance with regulatory requirements. Communication is vital; you will develop training and marketing materials in support of new or enhanced products and initiatives and deliver training to stakeholders when appropriate. Finally, you will outline post-implementation monitoring and measurement mechanisms for product strategies and initiatives, presenting findings and recommendations to leadership.

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.

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.

Nice-to-haves

• Experience with agile methodologies in product development.
• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.

Benefits

• Performance-based cash incentive awards.
• Comprehensive compensation and benefits program.