The Travelers Companies, Inc

Managing Director, Claim Product Management - Fraud

The Travelers Companies, Inc • $126K — $208K *
Hartford, CT 06106Hybrid
Finance & Insurance
5 - 7 years of experience
Reposted 4 days ago
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Job Overview by Ladders

Qualifications

  • Bachelor’s degree required
  • 5 years in claims, insurance or financial services
  • Strong financial analysis and project management skills
  • Comprehensive knowledge of claim processes and systems
  • Previous leadership experience required

Responsibilities

  • Develop claim strategies and business plans for product enhancements
  • Collaborate across teams to establish profitable growth initiatives
  • Identify and assess innovative opportunities in claims processes
  • Manage vendor strategies including selection and negotiation
  • Provide direction on financial management and control strategies

Benefits

  • Health insurance coverage for employees and eligible family members from day one
  • 401(k) company match up to 5% of eligible pay, with additional benefits for student loan payments
  • Minimum of 20 days Paid Time Off plus nine paid holidays annually
  • Access to a comprehensive wellness program and mental health resources
  • Encouragement and support for volunteer initiatives through matching gifts and rewards
Full Job Description
Job Category
Claim

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
$126,500.00 - $208,700.00

Target Openings
1

What Is the Opportunity?
What Will You Do?
  • Claim Strategy:
  • For specific national line of business initiatives develops and directs strategies and business plans for product, program or functional development / enhancements, designs, marketing, best practices, system development, management of vendors, policies and procedures, management of legislative and regulatory issues customer service and claim technical support.
  • Collaborates across Claim and the Enterprise to develop and direct national short and long term strategies and business plans for line of business initiatives to increase profitable growth and productivity, reduce expenses and improve results and customer service.
  • Identifies new improvement or innovative opportunities, and understands, assesses and removes barriers to success.
  • Accountable for vendor strategies including vendor selection, negotiation and contracting.
  • Claim Practices & Field Support:
  • Partners with the Field, Claim Resources and Senior Leadership to identify and improve Claim processes and practices.
  • Proactively stays abreast of industry, developments, changing trends and jurisdictional issues to understand how it impacts our business and influences future strategies.
  • Directs industry analysis and bench-marking studies.
  • Adjusts claim practices, marketing strategy and customer service as appropriate to anticipate, respond to, and manage trends.
  • Attends various seminars and conferences as appropriate.
  • Partners with Claim University on the development and design of technical claim and leadership training strategies, programs and curriculum.
  • Partners with field management, Claim Finance and Claim Business Intelligence Analytics to develop and deliver a financial management and control strategy to limit financial risk associated with claim costs.
  • Serves as a contact and technical resource to field and business partners on compliance and regulatory issues, program and/or procedural issues.
  • Provides field claim management guidance on legislative, regulatory, and market conduct issues.
  • Shares accountability with business partners to achieve and sustain quality results.
  • Business Process, Workflow and Technology:
  • Analyzes and assesses results to identify areas with improvement opportunities as well as review the feasibility of new workflows, vendor products and services.
  • Makes recommendations and leads initiatives to improve overall product effectiveness and future utilization.
  • Directs the creation, implementation, and maintenance of claim handling guidelines, policies, procedures and processes.
  • Partners with Business to assist in developing and implementing claim policy language and endorsement changes.
  • Manages the investigation of new technology and the application of same for improving business process, increasing productivity and cost effectiveness.
  • Provides technical knowledge and project coordination on large-scale claim programs, workflows and systems projects.
  • Business Partner Support:
  • Builds and maintains strong partnerships with Underwriting, Product Management, Marketing, and Actuarial and across the Enterprise to drive business results.
  • Leadership:
  • Manages staff and develops team vision, goals and objectives to achieve optimal business outcomes.
  • Accountable for the development of staff.
  • May be required to participate in our Catastrophe Response Program which could include deployment away to assist customers in other states.
  • Perform other duties as assigned.
What Will Our Ideal Candidate Have?
  • Bachelor’s degree.
  • Comprehensive financial acumen and analysis skills.
  • Comprehensive knowledge and skills in identifying and analyze alternative business strategies.
  • Comprehensive project management skills.
  • Comprehensive knowledge of claim processes and systems.
  • Previous leadership experience.
  • Lead the Business.
  • Translate vision into realistic business strategies for self/unit and communicates vision to staff.
  • Lead change.
  • Promote enterprise culture; understand and initiate opportunities to work with other functions.
  • Lead Self.
  • Communicate effectively.
  • Influence others and build `behind the scenes support for initiatives and proposals.
  • Strong strategic thinking, planning, delegation and implementation skills.
  • Lead Others.
  • Attract, develop, retain and reward talent.
  • Hold others accountable for their commitments, drives results to improve performance; coach and track results.
  • Inspire and guide individuals and groups; lead by example; stimulate enthusiasm.

What is a Must Have?
  • High school diploma or GED.
  • Five years claim, insurance or financial services related 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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