VP, Property Major Case Large Loss

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.

Claim

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

$196,200.00 - $316,300.001The VP, Large Loss leads Travelers' Large Loss Property organization, overseeing direct handling of high-exposure property claims nationwide and providing strategic oversight for large losses internationally. This role owns the strategy, development, and execution for the Large Loss organization, including aligning goals and objectives, setting the polices, standards, and processes that govern handling large losses, and identifying and evaluating internal and external issues in order to achieve objectives related to good faith claims handling practices, customer satisfaction, quality, and productivity. This role leads the Claim Large Loss Property organization, including the Major Case Unit, Property Litigation Unit, and Claim Accounting Services and collaborates closely with field teams. Partners heavily with property product leadership to design and implement approaches that drive business results.

What Will You Do?

• Develop and lead nationwide strategies for Claim Large Loss Property unit with full accountability for performance, budget, global line of business coverage resolution, and efficient management of allocated loss adjustment expenses while providing leadership to achieve talent development, engagement, business results, and resource optimization
• Independently manage property claims meeting Major Case Unit Referral Guidelines with designated authority up to $15MM and secure additional authority directly from Claim EVP for cases exceeding $15MM, as appropriate.
• Oversee cases routinely valued in tens of millions of dollars, occasionally exceeding $100MM.
• Maintain direct contact with agents, brokers, lawyers, and other external parties on complex claim resolution.
• Ensure timely and cost-effective resolution of claims with anticipated exposure exceeding $1MM and directly negotiate complex claims (significant dollar exposure, class actions, etc.) with external parties.
• Evaluate the most severe and complex claims with active involvement in coverage, liability, and damages analysis and provide claim-handling guidance, recommendations, and strategies to appropriate claim professionals.
• Partner with Claim University to identify, develop, and present training programs that optimize field and unit claim handling effectiveness. Train and develop claim professionals.
• Deliver technical and coverage expertise to broader property organization to ensure product consistency.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Bachelor’s Degree.
• 15 years of property claim experience with extensive expertise in Large Loss.
• Demonstrated leadership experience with a track record of leading and developing high-performing teams.
• Comprehensive expertise across PI and BI Property Claims, Primary and Excess Property Coverage and Property Litigation.
• Adjusters license required by applicable state statutes.
• AIC and/or CPCU designation.
• Demonstrated ability to develop long-term strategy and translate vision into actionable business plans.
• Strong financial acumen.
• Exceptional communication and negotiation skills across all audiences.

What is a Must Have?

• 12 years claim handling experience with a minimum of 10 years of Large Loss experience.
• 7 years of people management experience.