At a Glance
- Tasks: Support product development and innovation while collaborating with experts in the field.
- Company: Join a leading property casualty insurer with a strong commitment to community and innovation.
- Benefits: Enjoy flexible hybrid work, competitive salary, wellness programmes, and generous holiday entitlement.
- Other info: Be part of a dynamic team with opportunities for personal and professional growth.
- Why this job: Make a real impact by developing products that serve customers and enhance their experience.
- Qualifications: Experience in commercial underwriting and a passion for product development are essential.
The predicted salary is between 45000 - 55000 £ per year.
Taking care of our customers, our communities and each other. 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.
We're looking for a Product Development Specialist to join our Wordings & Product team. You'll bring hands-on commercial underwriting and policy wording experience — as well as a genuine passion for building products that truly serve our customers. Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy. This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees). This policy may be changed at the Company's discretion.
- Support the Technical Product development for new or updated products, working closely with the Subject Matter Expert (Portfolio/Product Manager, Managing/Senior Underwriter).
- Underwriting: development of appropriate appetite, underwriting parameters including capacity deployment, line size, new and renewal program rules, question sets, ensure reinsurance cover alignment, and risk survey parameters for product lines or industries.
- Draft technical product underwriter training.
- Prepare collaterals to support the review and agreement of aspects of the technical product development process noted above.
- Technology: provide technical consultation on the design and implementation process of the technology platform to ensure successful integration or conversion of the new or updated product including IT scope (e.g. Management Information requirements, Policy Schedule design and production, Product configuration) and oversight the testing of UW systems.
- Contribute to the development of technical underwriting/broker training material to accompany product launch and assist with delivery as required by the SME.
- Ensure that you keep abreast of market activity with regards the product content across first and third-party lines of business.
- Have an understanding of the reinsurance treaty policy content requirements and restrictions across BI.
- Thorough understanding of Business Insurance products, systems, contracts, forms, coverage, distribution channels, regulatory environment and insurance financials.
- Financial Acumen, Presentation Skills, Networking, Risk Selection and Critical and Analytical Thinking.
- Good working knowledge of Microsoft Office packages, including Word, Excel and Powerpoint.
Private Medical Insurance: On commencement of employment, you are eligible for single cover provided by Travelers, with the option to add cover for your dependents, at your expense through payroll deduction.
Retirement: Travelers will make a core contribution of a percentage of salary to your Pension Plan.
Holiday Entitlement: Start your career at Travelers with a minimum of 25 days holiday entitlement annually, plus the opportunity to purchase additional days to allow for up to a total of 35 holidays per year.
Wellness Programme: The Travelers wellness programme is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health programme provides access to free professional counseling services and other resources that support your daily life needs.
Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.
Product Development & Innovation Associate in London employer: Travelers
Travelers is an exceptional employer that fosters a collaborative work culture, particularly in the dynamic environment of Greater London. With a strong emphasis on employee growth and development, the company offers flexible hybrid working arrangements, comprehensive benefits including private medical insurance and generous holiday entitlement, making it an attractive choice for those seeking meaningful and rewarding employment in the actuarial field.
StudySmarter Expert Advice🤫
We think this is how you could land Product Development & Innovation Associate in London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Travelers). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Travelers. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Product Development & Innovation Associate in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Travelers.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Travelers. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Travelers
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Travelers to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Travelers, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Travelers's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
