The Travelers Companies, Inc

Analyst, Product Rating

The Travelers Companies, Inc • $70K — $116K *
Hartford, CT 06106In-Person
Finance & Insurance
Less than 5 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Bachelor's degree in a related field or equivalent combination of education and work experience.
  • Two or more years of relevant experience in programming, configuration, product development, actuarial, regulatory, or rating roles.
  • Familiarity with personal or commercial property casualty insurance products.
  • Working knowledge of relational databases, rating engines, and programming languages.
  • Strong verbal and written communication skills for effective collaboration.
  • Critical thinking and problem-solving abilities to overcome rating challenges.
  • Organizational skills to prioritize tasks and manage deadlines.

Responsibilities

  • Conduct thorough analysis and document business requirements aligned with strategic and regulatory objectives.
  • Design and implement less complex rate structure changes and update rate manuals.
  • Determine testing scope, perform unit testing, and validate modifications for compliance.
  • Ensure accuracy of product configuration rules and functionality of rating technologies.
  • Build effective relationships with business partners for insightful consultation.
  • Identify root causes of discrepancies and perform analytical resolutions.
  • Complete additional duties as assigned.

Benefits

  • Health insurance effective from day one for employees and eligible family members.
  • 401(k) matching contributions up to 5% and a fully-funded pension plan.
  • Minimum of 20 days Paid Time Off annually plus nine paid company holidays.
  • Access to a comprehensive wellness program and mental health resources.
  • Opportunities for community involvement through volunteer programs and matching gifts.
Full Job Description
Job Category

Product

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range
$70,400.00 - $116,200.00

Target Openings

1

What Is the Opportunity?

The Product Rating team collaborates with business units across personal or commercial insurance on all variables associated with premiums to achieve financial and strategic objectives at the national and the state/province level. The responsibilities of the team include leveraging and maintaining business-controlled rating engine/technologies, designing and implementing rate structures, updating product configuration rules, ensuring adherence of rating practices to regulatory and filing requirements, and resolving issues that may arise. As an Analyst, Product Rating you will contribute to the comprehensive examinations of business requirements and rate structure changes through knowledge of current industry trends and techniques. You will also deliver outcomes that meet or exceed established quality standards, punctuality to deadlines and enhance customer satisfaction and operational efficiency.What Will You Do?
  • Conduct thorough analysis and contribute to business requirements, including rate filings and related documentation to ensure alignment with strategic objectives and regulatory standards.
  • Design and implement less complex rate structure changes and build rate pages for rate manuals.
  • Determine testing scope, perform unit testing, and validate modifications to adhere to best practices and business unit filing and regulatory requirements. Assist in the triage and resolve issues that arise during subsequent testing phases.
  • Ensure optimal functionality and accuracy of product configuration rules, rate factors within existing rating tables, and other business owned rating technologies.
  • Develop effective relationships with business partners such as actuarial to provide insightful consultation on the development of rating business and worksheet requirements.
  • Identify the root cause of rating discrepancies and perform analysis to rectify the issue.
  • Perform other duties as assigned.
What Will Our Ideal Candidate Have?
  • Bachelor's degree in a related field.
  • Two or more years of programming and configuration, development, product, actuarial, regulatory or rating experience.
  • Familiarity of personal or commercial property casualty insurance products.
  • Working knowledge of relational databases, rating engines, programming languages and/or the methodologies used in assessing risk and determining pricing strategies.
  • Verbal and written communication skills to effectively collaborate with and influence agents and consumers.
  • Critical thinking and analysis skills to address rating challenges and develop solutions.
  • Organization and time management skills to prioritize workload and ensure timely completion of assignments.
  • Ability to identify opportunities for improvement and contribute creative ideas or solutions.


What is a Must Have?
  • Bachelor's degree in computer science or a related field, or equivalent combination of education and work experience.
  • One or more years of programming, development, product, or rating experience.


What Is in It for You?
  • Health Insurance: Employees and their eligible family members - including spouses, domestic partners, and children - 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. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
  • 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 is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

About The Travelers Companies, Inc

Travelers is an insurance leader, committed to keeping pace with the ever-changing needs of their customers and anticipating their needs for the future. There is no stronger testament to their dedication to protecting customers from loss than their continued innovation and ability to transform their industry. In fact, from the first-ever auto and space travel policies and hybrid car discount, to the 2009 founding of The Travelers Institute for public policy, their history of advancements has propelled their company—and their industry—towards ever higher standards for customers. Travelers is a company that works hard at the science of what they do: they analyze information, process perspectives and measure results to create the best combination of products and services. They work equally hard at customer service and how they interact with the people whom they do business. Over the years, they've strived to earn their customer's loyalty by continually improving their abilities to listen and respond to their needs.

The Travelers Companies, Inc Careers

Join the vibrant team at The Travelers Companies, Inc, a leader in the insurance industry, and propel your career to new heights with a company known for its commitment to innovation, leadership, and professional growth.

Explore Job Opportunities and Growth

At The Travelers Companies, Inc, we offer a plethora of job opportunities that cater to a variety of skills and professional interests. Whether you're seeking a position in management, customer service, underwriting, or IT, we have a place for you. Our commitment to professional growth means we provide unparalleled career advancement tools and leadership training to help you climb the ladder of success.

Internship Programs: A Gateway to Employment

Kickstart your career with our dynamic internship programs. These opportunities are designed not just to teach, but to challenge and expand your understanding of the industry. Internships at Travelers are a perfect way to enhance your resume and gain valuable real-world experience, making you a competitive candidate for future employment.

Culture and Benefits

At The Travelers Companies, Inc, we pride ourselves on a culture that fosters diversity, networking, and innovation. Our team is our family, and we support each other's professional and personal growth. The benefits at Travelers are comprehensive, designed to meet the diverse needs of our employees, including health, wellness, and continuous education.

Hiring Process: What to Expect

Our hiring process is straightforward and transparent, designed to find passionate, curious, and solution-driven team players. From the initial application and resume submission to the interview, we ensure that every candidate is treated with respect and given a fair chance to demonstrate their capabilities.

Career Development and Training

We believe in nurturing talent and providing our team with the tools they need to succeed. Our career development programs include professional training, diversity training, and skills enhancement workshops. These resources are tailored to foster innovation and empower our employees with the latest industry knowledge and best practices.

Join Our Team

Are you ready to explore the exciting career opportunities at The Travelers Companies, Inc? Search open positions that match your skills and interests. We are always looking for individuals who are driven to innovate and lead.

Stay Connected

Keep up to date with the latest news, insider perspectives, and industry-leading insights you can put to use today—all from the people who work here. Personalize your subscription to receive job alerts, latest news, and insider tips tailored to your preferences. Discover the rewarding opportunities that await at The Travelers Companies, Inc.

Explore Careers at The Travelers Companies, Inc

Embark on a journey of growth, opportunity, and excellence. At The Travelers Companies, Inc, your career is just beginning. Join us and make a difference in a company that values leadership, diversity, and forward-thinking.
Learn more about The Travelers Companies, Inc
Size
30,800 employees
Market Cap
$44.1 billion
Industry
Finance & Insurance
Net Income
$2.6 billion
Founded
1853
5 Year Trend
+4.7%
Revenue
$32 billion
NASDAQ
TRV
* Ladders Estimates

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