Product Management Development Program (PMDP) Intern

$52,000 - $56,160/Yr

Unclassified - Hartford, CT

Full-time - Intern

Hartford, CT

10,001+ employees

About the position

As a Product Management Development Program Intern at Travelers, you will be immersed in the dynamic environment of the Product Management organization, specifically within the Personal Insurance or Select Small Commercial sectors. This internship is designed to be both challenging and developmental, providing you with the opportunity to engage in a variety of fast-paced projects that are integral to the growth of the company. You will be part of a team that is at the forefront of innovation in the insurance industry, contributing to projects that have a real impact on the business and its customers. Throughout the summer, you will participate in a group capstone project that will culminate in a final presentation to senior management and other key stakeholders. This project will allow you to apply your analytical skills to quantify the impact of pricing and underwriting decisions, as well as analyze marketplace dynamics through competitor and industry data. You will also have the opportunity to engage in negotiations regarding pricing decisions with various distribution channels, which will enhance your understanding of the sales process and the importance of collaboration across departments. In addition to these projects, you will research and analyze industry trends, competitor activities, and regulatory changes, which are crucial for developing and implementing underwriting guidelines and product coverage enhancements. You will collaborate with various teams, including Finance, Actuarial, Field Sales, Research and Development, Risk Management, and Claims, to introduce new products and enhancements across multi-site territories. This internship is not just about learning; it is about making meaningful contributions to the organization while developing your professional skills in a supportive environment.

Responsibilities

• Participate in a group capstone project culminating in a presentation to senior management.
• Quantify the impact of pricing and underwriting decisions.
• Analyze marketplace dynamics through competitor and industry data.
• Engage in negotiations regarding pricing decisions with distribution channels.
• Research and analyze industry trends, competitor activities, and regulatory changes.
• Develop and implement underwriting guidelines and product coverage enhancements.
• Collaborate with Finance, Actuarial, Field Sales, Research and Development, Risk Management, and Claims teams.
• Assist in the introduction of new products and enhancements to multi-site territories.
• Perform other duties as assigned.

Requirements

• Pursuing a Bachelor's or Master's Degree.
• Cumulative GPA of 3.0 or greater is preferred.
• Involvement in extracurricular activities is preferred.
• Experience with Microsoft Excel, PowerPoint, Office, and Access is a plus.
• Availability to work from early June through August (10-12 weeks).
• Legally eligible to work in the United States on a permanent full-time basis.
• Demonstrated leadership skills.

Nice-to-haves

• Experience with Microsoft Excel, PowerPoint, Office, and Access.
• Involvement in extracurricular activities.

Benefits

• Comprehensive benefits program including health insurance coverage from the first day of employment.
• Performance-based cash incentive awards.
• Diversity networks and employee-led organizations for professional development.
• Community involvement opportunities.