Bond & Specialty Underwriting Director - Program Management
Who Are We?Taking care of our customers, our communities and each other.
That's the Travelers Promise.
By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years.
Join us to discover a culture that is rooted in innovation and thrives on collaboration.
Imagine loving what you do and where you do it.
Job CategoryUnderwritingCompensation OverviewThe 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$129,100.
00 - $213,000.
00Target Openings1What Is the Opportunity?Underwrite new and renewal business in a Business Unit for assigned field offices.
Considers all strategic aspects of the situation and can make independent decisions within underwriting authority.
Assist in the development, measurement and execution of market strategies while supporting field offices in achieving their budgeted financial results (premium, loss ratio, retention, commissions, pricing, and new business).
Support sales goals and plans of field offices and help drive producer relationships.
Influence the outcome of the sale with the customer and/or producer.
Communicate product information and strategies to field offices and provide technical leadership based on the particular situation.
Develop less experienced employees from an underwriting, portfolio management, and sales management perspective.
What Will You Do? Work with Managing General Underwriter (MGU) to ensure underwriters are appropriately assessing Health Care risk for the Bond and Specialty Insurance and accounts in the MGU.
Make appropriate decisions within own underwriting authority and make appropriate recommendations as referral Underwriter.
Assist the MGU underwriters with the 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 Program Management and Bond and Specialty Insurance Business Unit requirements and standards and within submission timeframe.
Understand and communicate Health Care segment strategies to the field.
Assist MGU to ensure they execute strategies on their accounts to produce budgeted results.
Actively seek feedback regarding strategies and work with MGU to take actions necessary to address issues.
Accountable for all aspects of the execution of the Health Care 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 the Health Care 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.
Accountable for accurate underwriting documentation/information in account management systems and adherence to documentation standards by MGU.
Develop processes to ensure accurate documentation exists for all accounts in the Health Care portfolio of business.
Monitors and takes the necessary action to resolve documentation deficiencies with the Head of Program Management.
Shares Health Care industry/subject expertise with MGU employees.
Participates on or leads projects in area of expertise with understanding and consideration for national implications.
As the referral Health Care Underwriter, assures that policies and accounts are effectively underwritten, handled and documented in compliance with Program Management, Business Unit and regulatory standards and requirements.
Sales Management:
Proactively works with the Field to analyze Health Care sales plan against knowledge of each territory.
Makes recommendations to enhance sales and visibility in the marketplace.
Works with Field to develop action plans to acquire Health Care accounts where opportunities exist.
On the larger and more complex accounts, works with MGU and participates with Field on account specific direct sales efforts to influence the outcome of the sale.
Partner with the MGU and Field Office on sensitive account specific communication and participate in the communication if necessary.
Support and encourage cross sell opportunities with the MGU, Bond and Specialty Insurance and Travelers.
Participate in Health Care 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, ASHRM, etc).
Ensure MGU focuses on meeting customer expectations regarding response time and knowledge of products and business.
Operations:
Foster an environment of collaboration.
Perform other duties as assigned.
What Will Our Ideal Candidate Have? Strong communication (written and verbal), influencing, negotiating, listening, and interpersonal skills to effectively develop/maintain productive internal and external relationships.
Effectively communicate and collaborate with Field and Home Office colleagues (Claim, Legal).
Communicate difficult decisions.
Assist others in communicating difficult messages.
Adept at framing issues and solutions for Field, referral Underwriter, external constituencies, and management as required.
Providing coaching to less than experienced employees.
Communicate with confidence and influence outcome of interactions.
Make presentations to internal and external constituencies.
May present as an industry expert at external meetings.
What is a Must Have? Minimum of 7 years of equivalent work and/or industry 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 and resources that empower you to achieve your wellness goals.
In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs.
Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
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.
Employment PracticesTravelers is an equal opportunity employer.
We believe that we can deliver the very best products and services when our workforce reflects the diverse customers and communities we serve.
We are committed to recruiting, retaining and developing the diverse talent of all of our employees and fostering an inclusive workplace, where we celebrate differences, promote belonging, and work together to deliver extraordinary results.
If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email ( email protected ) so we may assist you.
Travelers reserves the right to fill this position at a level above or below the level included in this posting.
To learn more about our comprehensive benefit programs please visit http:
//careers.
travelers.
com/life-at-travelers/benefits/.
Recommended Skills Account Management Coaching And Mentoring Communication Direct Selling Finance Interpersonal Skills Estimated Salary: $20 to $28 per hour based on qualifications.
That's the Travelers Promise.
By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years.
Join us to discover a culture that is rooted in innovation and thrives on collaboration.
Imagine loving what you do and where you do it.
Job CategoryUnderwritingCompensation OverviewThe 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$129,100.
00 - $213,000.
00Target Openings1What Is the Opportunity?Underwrite new and renewal business in a Business Unit for assigned field offices.
Considers all strategic aspects of the situation and can make independent decisions within underwriting authority.
Assist in the development, measurement and execution of market strategies while supporting field offices in achieving their budgeted financial results (premium, loss ratio, retention, commissions, pricing, and new business).
Support sales goals and plans of field offices and help drive producer relationships.
Influence the outcome of the sale with the customer and/or producer.
Communicate product information and strategies to field offices and provide technical leadership based on the particular situation.
Develop less experienced employees from an underwriting, portfolio management, and sales management perspective.
What Will You Do? Work with Managing General Underwriter (MGU) to ensure underwriters are appropriately assessing Health Care risk for the Bond and Specialty Insurance and accounts in the MGU.
Make appropriate decisions within own underwriting authority and make appropriate recommendations as referral Underwriter.
Assist the MGU underwriters with the 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 Program Management and Bond and Specialty Insurance Business Unit requirements and standards and within submission timeframe.
Understand and communicate Health Care segment strategies to the field.
Assist MGU to ensure they execute strategies on their accounts to produce budgeted results.
Actively seek feedback regarding strategies and work with MGU to take actions necessary to address issues.
Accountable for all aspects of the execution of the Health Care 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 the Health Care 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.
Accountable for accurate underwriting documentation/information in account management systems and adherence to documentation standards by MGU.
Develop processes to ensure accurate documentation exists for all accounts in the Health Care portfolio of business.
Monitors and takes the necessary action to resolve documentation deficiencies with the Head of Program Management.
Shares Health Care industry/subject expertise with MGU employees.
Participates on or leads projects in area of expertise with understanding and consideration for national implications.
As the referral Health Care Underwriter, assures that policies and accounts are effectively underwritten, handled and documented in compliance with Program Management, Business Unit and regulatory standards and requirements.
Sales Management:
Proactively works with the Field to analyze Health Care sales plan against knowledge of each territory.
Makes recommendations to enhance sales and visibility in the marketplace.
Works with Field to develop action plans to acquire Health Care accounts where opportunities exist.
On the larger and more complex accounts, works with MGU and participates with Field on account specific direct sales efforts to influence the outcome of the sale.
Partner with the MGU and Field Office on sensitive account specific communication and participate in the communication if necessary.
Support and encourage cross sell opportunities with the MGU, Bond and Specialty Insurance and Travelers.
Participate in Health Care 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, ASHRM, etc).
Ensure MGU focuses on meeting customer expectations regarding response time and knowledge of products and business.
Operations:
Foster an environment of collaboration.
Perform other duties as assigned.
What Will Our Ideal Candidate Have? Strong communication (written and verbal), influencing, negotiating, listening, and interpersonal skills to effectively develop/maintain productive internal and external relationships.
Effectively communicate and collaborate with Field and Home Office colleagues (Claim, Legal).
Communicate difficult decisions.
Assist others in communicating difficult messages.
Adept at framing issues and solutions for Field, referral Underwriter, external constituencies, and management as required.
Providing coaching to less than experienced employees.
Communicate with confidence and influence outcome of interactions.
Make presentations to internal and external constituencies.
May present as an industry expert at external meetings.
What is a Must Have? Minimum of 7 years of equivalent work and/or industry 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 and resources that empower you to achieve your wellness goals.
In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs.
Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
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.
Employment PracticesTravelers is an equal opportunity employer.
We believe that we can deliver the very best products and services when our workforce reflects the diverse customers and communities we serve.
We are committed to recruiting, retaining and developing the diverse talent of all of our employees and fostering an inclusive workplace, where we celebrate differences, promote belonging, and work together to deliver extraordinary results.
If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email ( email protected ) so we may assist you.
Travelers reserves the right to fill this position at a level above or below the level included in this posting.
To learn more about our comprehensive benefit programs please visit http:
//careers.
travelers.
com/life-at-travelers/benefits/.
Recommended Skills Account Management Coaching And Mentoring Communication Direct Selling Finance Interpersonal Skills Estimated Salary: $20 to $28 per hour based on qualifications.
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