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About the Role

We are seeking a Product Development Specialist to join our Wordings & Product team. This role involves shaping, designing, and evolving our product portfolio by bringing technical product and underwriting expertise. You will work closely with the Business Insurance Leadership team to develop products that serve our customers.

Responsibilities

• Support the Technical Product development for new or updated products, working closely with Subject Matter Experts.
• Develop underwriting appetite, parameters, capacity deployment, line size, new and renewal program rules, question sets, reinsurance cover alignment, and risk survey parameters for product lines or industries.
• Design the scope of wording using customer research, ensuring drafted wordings are robust, customer-centric, and align with underwriting methodology and systems.
• Draft Technical Collaterals (e.g., Product UW guides/guidance/bulletins) and update them as part of the product development process.
• Draft technical product underwriter training.
• Prepare collaterals to support the review and agreement of technical product development aspects.
• Provide technical consultation on the design and implementation of the technology platform, including IT scope and oversight of UW systems testing.
• Provide technical consultation to Propositions and SMEs regarding the review of competitor information.
• Contribute to the development of technical underwriting/broker training material and assist with delivery.
• Maintain a log of approvals for technical work to satisfy governance requirements.
• Provide input to progress reports as needed.
• Stay informed about market activity concerning product content across first and third-party lines of business.
• Understand reinsurance treaty policy content requirements and restrictions across Business Insurance.
• Perform other duties as assigned.

Requirements

• Solid insurance underwriting experience.
• Thorough understanding of Business Insurance products, systems, contracts, forms, coverage, distribution channels, regulatory environment, and insurance financials.
• Very strong verbal and written communications skills.
• Excellent organizational skills with the ability to plan, prioritize, and adapt.
• Ability to communicate at all levels and manage stakeholder expectations.
• Previous Insurance experience with good knowledge of product, underwriting, or coverage.

Skills

• Financial Acumen
• Presentation Skills
• Networking
• Risk Selection
• Critical and Analytical Thinking
• Microsoft Office packages (Word, Excel, Powerpoint)

Location

• Hybrid

Work Type

• Full-time
• Hybrid

Experience Level

• Mid-level

Education Level

• ACII qualifications

Benefits

• Private Medical Insurance (single cover provided, option to add dependents at expense)
• Retirement Pension Plan (core contribution, increased company contribution with employee contribution)
• Holiday Entitlement (minimum 25 days annually, option to purchase up to 35 days)
• Wellness Programme (tools, discounts, resources, mental health program with free professional counseling)
• Volunteer Encouragement (Matching Gift and Volunteer Rewards programme)

About the Company

• Taking care of our customers, our communities and each other.
• Maintained a reputation as one of the best property casualty insurers in the industry for over 170 years.
• Culture rooted in innovation and thrives on collaboration.

Equal Opportunity

• Travelers is an equal opportunity employer.
• We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.