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Director Product Management, Subrogation

Company: Travelers Canada
Location: Hartford
Posted on: November 23, 2022

Job Description:

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 CategoryClaimCompensation 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$104,400.00 - $172,300.00Target Openings1What Is the Opportunity?This position is responsible and accountable for directing a team focused on Quantum Subro and Liability Risk Transfer Recovery as part of the Subrogation Alternative Recovery and Monetization strategies. Leads a team of Subrogation professionals (TS and STS) providing cross line business support. Through collaborative efforts with the Subrogation Product team, Subrogation Major Case, the Field Recovery Center and other key stakeholders, the position will participate in the development, design and generation of solutions to achieve desired results. In collaboration with others, develops, designs, documents and recommends multiple solutions and leads initiative implementation to improve countrywide results.Evaluates operating environment, vendors, workflow processes, and support services, and influences direction for assigned line of business programs or products. Responsible for leading the strategy and execution of programs and projects through matrix leadership.Travelers offers a hybrid work location model that is designed to support flexibility.What Will You Do?Claim Strategy:

  • Participates in the development, design, and strategy evolution for QuantumSubro and Liability Risk Transfer Recovery program.
  • Designs workflow, strategy best practices, system development, management of policies and procedures, adherence to legislative and regulatory issues as well as management of customer service and claim technical support.
  • Collaborates across Subrogation, Claim and the Enterprise to develop and direct national short and long-term strategies.
  • Increase profitable growth and productivity, reduce expenses, and improve overall results including customer/account service.
  • Identifies new improvement or innovative opportunities and understands how to remove barriers to success.Claim Practices & Field Support:
    • Partners with the Subrogation, Claim Field, Claim Resources and Senior Leadership to identify and improve Claim processes and practices.
    • Adjusts claim practices, marketing strategy and customer service as appropriate to anticipate, respond to, and manage trends.
    • Partners with Claim University on the development of technical claim and leadership training strategies, programs and curriculum.
    • Partners with field management, Claim Finance and Claim Business Intelligence Analytics to develop and deliver a control strategy to limit financial risks associated with claim costs.
    • Serves as a contact and technical resource to contracted accounts, field and business partners on compliance and regulatory issues, program and/or procedural issues.Business Process, Workflow and Technology:
      • Analyzes and assesses alternative recovery results to identify areas with improvement opportunities as well as review the feasibility of new workflows, vendor products and services.
      • Makes recommendations and leads initiatives with other stakeholders to improve overall product effectiveness and future utilization.
      • Participates in the creation, implementation, and maintenance of claim handling guidelines, policies, procedures and processes.
      • Supports the investigation of new technology and the application of same for improving business process, increasing productivity and cost effectiveness.Business Partner Support:
        • Builds strong partnerships with accounts, product management, marketing, and the Enterprise to drive business results.Leadership:
          • Assists in development of goals and driving strategies to achieve business objectives.
          • May be required to participate in our Catastrophe Response Program
          • Perform other duties as required.What Will Our Ideal Candidate Have?
            • Bachelor's degree preferred.
            • Claim handling experience with demonstrated skill in coverage, liability and damages analysis and a strong understanding of the litigation process, relevant case and statutory law and litigation management skills for liability and/or subrogation.
            • Knowledge and understanding of marketing, underwriting and account management processes preferred.
            • Comprehensive financial acumen and analysis skills preferred.
            • Comprehensive knowledge and skills in identifying and analyze alternative business strategies preferred.
            • Comprehensive knowledge of claim processes and systems preferred.
            • Previous leadership experience preferred .Lead the Business
              • Translate vision into realistic business strategies for self/unit and communicates vision to staff.Lead change
                • Promote enterprise culture; understand and initiate opportunities to work with other functions.Lead Self
                  • Communicate effectively.
                  • Influence others and build `behind the scenes support for initiatives and proposals.
                  • Strong strategic thinking, planning, delegation and implementation skills.Lead Others
                    • Attract, develop, retain and reward talent
                      • Hold others accountable for their commitments, drives results to improve performance, coach and track results
                      • Inspire and guide individuals and groups; lead by example; stimulate enthusiasm.
                        • Promote enterprise culture; understand and initiate opportunities to work with other functionsWhat is a Must Have?
                          • High school diploma or GED required.
                          • A minimum of five years claim, insurance or financial industry experience required.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 value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences. -If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an 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 .

Keywords: Travelers Canada, Hartford , Director Product Management, Subrogation, Executive , Hartford, Connecticut

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