The Travelers Companies, Inc

VP, Property Major Case Large Loss

The Travelers Companies, Inc$196K — $316K *
Finance & Insurance
11 - 15 years of experience
Job Overview by Ladders

Qualifications

  • Bachelor’s degree required.
  • 15+ years of property claim experience focusing on Large Loss.
  • Proven leadership skills with a history of developing high-performing teams.
  • Expertise in Property Claims, covering both Primary and Excess litigations.
  • Adjuster's license required by state laws.
  • AIC and/or CPCU designation preferred.
  • Strategic vision with ability to translate into actionable plans.
  • Strong financial acumen and communication skills.

Responsibilities

  • Develop and execute nationwide strategies for the Claim Large Loss Property unit.
  • Manage high-value property claims within Major Case Unit guidelines, with authority up to $15MM.
  • Oversee complex claim cases routinely valued in tens of millions, and occasionally exceeding $100MM.
  • Maintain communication with external parties on complex claim resolutions.
  • Ensure timely and cost-effective resolution of high-exposure claims exceeding $1MM.
  • Evaluate severe claims and provide guidance on coverage and liability analysis.
  • Collaborate with Claim University to create training programs for claim professionals.

Benefits

  • Health insurance coverage for employees and their families starting on day one.
  • 401(k) matching up to 5% of eligible pay with additional contributions for student loan payments.
  • Minimum of 20 days Paid Time Off annually plus nine paid holidays.
  • Wellness program supporting personal and mental health goals with professional counseling access.
  • Commitment to community service with programs that support employee volunteer efforts.
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
$196,200.00 - $316,300.00

Target Openings
1

What Is the Opportunity?
The VP, Large Loss leads Travelers' Large Loss Property organization, overseeing direct handling of high-exposure property claims nationwide and providing strategic oversight for large losses internationally. This role owns the strategy, development, and execution for the Large Loss organization, including aligning goals and objectives, setting the polices, standards, and processes that govern handling large losses, and identifying and evaluating internal and external issues in order to achieve objectives related to good faith claims handling practices, customer satisfaction, quality, and productivity. This role leads the Claim Large Loss Property organization, including the Major Case Unit, Property Litigation Unit, and Claim Accounting Services and collaborates closely with field teams. Partners heavily with property product leadership to design and implement approaches that drive business results.What Will You Do?
  • Develop and lead nationwide strategies for Claim Large Loss Property unit with full accountability for performance, budget, global line of business coverage resolution, and efficient management of allocated loss adjustment expenses while providing leadership to achieve talent development, engagement, business results, and resource optimization
  • Independently manage property claims meeting Major Case Unit Referral Guidelines with designated authority up to $15MM and secure additional authority directly from Claim EVP for cases exceeding $15MM, as appropriate.
  • Oversee cases routinely valued in tens of millions of dollars, occasionally exceeding $100MM.
  • Maintain direct contact with agents, brokers, lawyers, and other external parties on complex claim resolution.
  • Ensure timely and cost-effective resolution of claims with anticipated exposure exceeding $1MM and directly negotiate complex claims (significant dollar exposure, class actions, etc.) with external parties.
  • Evaluate the most severe and complex claims with active involvement in coverage, liability, and damages analysis and provide claim-handling guidance, recommendations, and strategies to appropriate claim professionals.
  • Partner with Claim University to identify, develop, and present training programs that optimize field and unit claim handling effectiveness. Train and develop claim professionals.
  • Deliver technical and coverage expertise to broader property organization to ensure product consistency.
  • Perform other duties as assigned.
What Will Our Ideal Candidate Have?
  • Bachelor’s Degree.
  • 15 years of property claim experience with extensive expertise in Large Loss.
  • Demonstrated leadership experience with a track record of leading and developing high-performing teams.
  • Comprehensive expertise across PI and BI Property Claims, Primary and Excess Property Coverage and Property Litigation.
  • Adjusters license required by applicable state statutes.
  • AIC and/or CPCU designation.
  • Demonstrated ability to develop long-term strategy and translate vision into actionable business plans.
  • Strong financial acumen.
  • Exceptional communication and negotiation skills across all audiences.

What is a Must Have?
  • 12 years claim handling experience with a minimum of 10 years of Large Loss experience.
  • 7 years of people management 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.

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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
Net Income
$2.6 billion
Founded
1853
5 Year Trend
+4.7%
Revenue
$32 billion
NASDAQ

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