Strategic Business Development Jobs in Connecticut

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 170 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.

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

$146,400.00 - $241,600.00

Target Openings

1

What Is the Opportunity?

This position is responsible and accountable for developing and implementing national/international strategies related to a line of business, product, program or function. Leads multiple functions within the line of business with national and enterprise scope and influence. Builds and maintains strong partnerships to drive business results.

What Will You Do?

Claim Strategy:

• For national and international line of business develops and directs strategies and business plans for product development/ enhancements, design, marketing, best practices, system development, management of vendors, policies and procedures, management of legislative and regulatory issues, customer service and claim technical support.
• Builds relationships with claim legal and other claim product teams to develop and direct national strategies and business plans for line of business initiatives to increase sales and productivity reduce expenses and improve results and customer service.
• Develops organizational design and workflow strategies (e.g.; direct management vs. matrixed; centralized vs. decentralized or specialization).
• May oversee development of quality assurance programs relative to line of business product delivery, file management, reserve adequacy, systems/ technological improvements and SAC compliance.
• Oversees vendor strategies including vendor selection, negotiation and contracting.

Claim Management:

• May have direct accountability for leading product specific claim operations and achieving business results.
• Responsible for product performance and quality.

Claim Practices & Field Support:

• Provides feedback to claim management regarding improvement needs relative to Claim processes and practices.
• Proactively stays abreast of industry and jurisdictional issues.
• May direct industry analysis and benchmarking studies adjusting claim practices, marketing strategy and customer service as appropriate to anticipate, respond to, and manage trends.
• Partners with Claim University on the development and design of technical claim/leadership training strategies, programs and curriculum.
• Partners with field management to develop and execute a financial management and control strategy to limit financial risk associated with claim costs.
• Provides process improvement consulting services for assigned business areas in order to increase productivity, reduce expenses, and improve claim results and service through efficient workflow, appropriate staffing, effective use of technology, and quality customer service.
• Partners with business management to oversee the review and monitoring of financial and qualitative operating results.
• Uses economic, industry and competitor trends to drive business decisions.
• Consults with Underwriting and Marketing regarding approaches to implementing business process change.
• Shares accountability with business partners to achieve and sustain quality results.

Business Process, Workflow and Technology:

• Monitors results on an ongoing basis and discuss product performance and improvement opportunities with business partners regularly.
• Develops or revises product strategies to meet business needs on an ongoing basis.
• Oversees the investigation of new technology and the application for improving business process and increasing productivity.
• Directs competitive analyses and benchmarking studies.
• Directs system and workflow initiatives in support of business process, service improvement, and cost effectiveness.

Business Partner Support:

• Builds and maintains strong partnerships with Underwriting, Product Management, Marketing, and Actuarial to drive business results.
• Identifies expectations for product, program and/or functional quality and develop quality management strategies to meet the business needs.
• Shares business initiatives with all appropriate business leaders/partners: risk control, SIU, Subrogation, etc. to ensure appropriate stake holders are informed and engaged in the success of the enterprise.

Leadership:

• Develops team goals and drive strategies to meet business objectives.
• Manages and develops staff which may include staff that directly handles claims.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Bachelor’s degree, CPCU or JD.
• Comprehensive financial acumen and analysis skills.
• Comprehensive knowledge and skills in identifying and analyzing alternative business strategies.
• Advanced knowledge of claim business, processes and systems.
• Lead Others.
• Attract, develop, retain and reward talent; lead and develop business managers.
• Hold others accountable for their commitments; drive results; encourages others to achieve a standard of excellence; coach and track results.
• Inspire and guide individuals and groups; lead by example; stimulate enthusiasm.
• Understand formal and informal organizational climate and culture; build and sustains strong networks; utilizes chain of indirect Influence to build coalitions and gain support for initiatives and proposals; work with others toward shared goals.
• Lead projects and apply project management skills.

What is a Must Have?

• High school diploma or GED.
• Eight years claim, insurance or financial industry experience.
• Three years managing others.

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.

Employment Practices

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.

In accordance with local law, candidates seeking employment in Colorado are not required to disclose dates of attendance at or graduation from educational institutions.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email 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/.