Private Directors & Officers Product Manager ( Underwriting Director )
Lead and manage all aspects of the Private Directors & Officers (D&O) product line within Travelers Bond & Specialty Insurance. Develop and communicate product line strategies, support Business Units in achieving budgeted financial results and increase market penetration.
Portfolio Management/Strategic Direction/Leadership:
- Manage the Private D&O book of business across the Financial Institution and Private and Non-Profit Business Units. Develop, measure and communicate product, pricing, sales and underwriting strategies to field and home office underwriters.
- Develop digital strategy and monitor portfolio results.
- Provide recommended direction to Senior Management in balance growth, risk and profitability.
- Collaborate with Underwriting, Claim, Actuarial, Legal, Regulatory and Product Development to maintain the highest standards of product line profitability, marketability and regulatory compliance.
- Develop and amend existing product, applications and endorsements along with associated underwriting strategy.
- Provide support and direction to underwriters in their decision making relative to specific Private D&O accounts.
Marketing / Communication / Customer Service:
- Capitalize on media opportunities including press releases or interview requests.
- Proactively develop, and amend marketing materials, risk management services, and continuing education classes.
- Participate in producer and industry functions as a foremost Travelers, and industry expert in the Private D&O product line.
- Conduct various forms of coverage and underwriting training for underwriters and agents.
- Continually deliver private D&O product and industry updates.
Primary Job Duties & Responsibilities
Underwriting: Underwrite and assess risk for Bond and Specialty Insurance and accounts in a Business Unit. Make appropriate decisions within own underwriting authority and make appropriate recommendations to referral Underwriter. Underwrite most complex/demanding accounts and risks and consider different approaches toward risks to maximize profitability (e.g., pricing, retention, endorsements, limits, indemnity, and security) by considering all factors related to the account. Considers all strategic aspects of the situation and can make independent decisions within underwriting authority. Within authority limit, make timely and prudent decisions consistent with Bond and Specialty Insurance Business Unit requirements and standards and within submission timeframe. Accountable for all aspects of the execution of Business Unit strategies to produce budgeted results. May participate or lead a team on the development of strategies. Portfolio Management – Takes actions necessary to ensure that the portfolio of business is consistent with the strategies and profitability measures for the Business Unit. Act as a role model for accurate underwriting documentation/information in account management systems and adherence to documentation standards. Develop processes to ensure accurate documentation exists for all accounts in the portfolio of business. Monitors and takes the necessary action to resolve documentation deficiencies with Hub management. Shares industry/subject expertise with employees and represents Travelers at the local level. Participates on or leads projects in area of expertise with understanding and consideration for national implications. As the referral Underwriter, assure that policies and accounts are effectively underwritten, handled and documented in compliance with Business Unit and regulatory standards and requirements. Sales Management: Proactively works with the Field to analyze sales plan against knowledge of the territory. Makes recommendations to enhance sales and visibility in the marketplace. Works with Field to develop action plans to address specific programs or accounts where opportunities exist. On the larger and more complex accounts, participate with Field on account specific direct sales efforts to influence the outcome of the sale. Partner with the Field Office on sensitive account specific communication and participate in the communication if necessary. Support and encourage cross sell opportunities within Bond and Specialty Insurance and Travelers. Participate in producer and industry functions to increase visibility in the marketplace, network with key players in the territory and industry, and increase knowledge of the industry (PLUS, AGC, Surety Assn., Banker Assns). Producer and account interaction focuses on meeting customer expectations regarding response time and knowledge of products and business. Operations: Foster an environment of collaboration.
Minimum of 7 years of equivalent work and/or industry experience.
Job ID: 15565BR