Product Development Manager - Competitor Intel

$96,600 - $159,300/Yr

Travelers - Providence, RI

Full-time - Mid Level

Providence, RI

Insurance Carriers and Related Activities

About the position

As a Product Development Manager specializing in Competitive Intelligence at Travelers Insurance Company, you will play a pivotal role in shaping the future of our insurance products. This position is integral to achieving Travelers' financial objectives, including growth, profit, and retention, through the development, implementation, and monitoring of product strategies. You will manage competitive intelligence requests from various business partners and leadership, ensuring that materials are delivered in a timely manner. Your responsibilities will include conducting in-depth product reviews of top-tier competitors and sharing your findings with PI Product Leadership and other stakeholders. You will also be responsible for advancing the PI Competitive Intelligence vision and strategy, which may involve coaching and providing feedback to team members. In this role, you will develop, execute, and enhance product strategies and actions, including business scope and go-to-market strategies, utilizing agile methodologies to meet financial objectives. Collaboration will be key as you influence strategies and action plans with key stakeholders, ensuring consensus for your 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 independently analyze data to drive recommendations for product enhancements, ensuring compliance with regulatory requirements. Additionally, you will design and implement system and process solutions that align with product strategies, actively collaborating with various stakeholders to test new products or markets. You will also be responsible for developing communication, training, and marketing materials to support new or enhanced products, delivering training to stakeholders as needed. Post-implementation, you will outline monitoring and measurement mechanisms for product strategies, presenting findings and recommendations to leadership. This role is dynamic and requires a proactive approach to problem-solving and innovation, making it an exciting opportunity for those looking to make a significant impact in the insurance industry.

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 or equivalent combination of education and experience.
• 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.

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 that empower you to achieve your wellness goals and caregiving needs.
• Volunteer Encouragement: Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.