(Life Insurance/ Investment-linked / Savings Products) Product Development Manager from a Direct Insurer (Singapore)
Job Description
Supports the Product Lead in the end-to-end product development process including actively reviewing the Life / Investment-linked / Savings Products, providing recommendations on enhancement, withdrawal or development of new products.
Key Responsibilities:
- Conducts market research on new product developments and prepare analysis to provide insights on market
- Monitor market developments and identify trends, differentiating product proposition and competitive comparisons to drive and support new product development and related initiatives.
- Manage and conduct focus groups with distribution/customers to test out new product ideas or get feedback on existing products.
- Responsible for drafting and updating product specifications and prepare the product presentation for Life and Health Executive Committee’s evaluation and approval.
- Collaborate with key stakeholders from the product implementation workgroup (e.g. distribution, operations, actuarial and product marketing) to channel inputs into the product proposition, manage deliverables and resolve implementation issues.
- Responsible for drafting of new product launch training slides, drafting/updating of product related materials (such as product summaries and product factsheet) as well as reviewing of product/fund materials, policy contract and FAQs.
- Responsible on the communication and drafting of product launch announcements.
- Responsible on any post product launch monitoring.
- Manage and coordinate on regulatory developments and requirements related to product development
- Supports the Product Lead in the product review/performance and marketing initiatives such as campaigns and reviewing of materials, providing inputs, etc.
- Familiar with latest policy changes and able to problem solve by coming up with changes/modifications for plans
- Able to innovate and differentiate products from what the market has to offer while meeting the profit criteria and risk profile
Qualifications:
- Degree in any field
- 8 to 10 years in the insurance industry with experience in life product development/ pricing, exposure to proposition development and project implementation
- Experience of leading a team (preferably 2-3 years of team leading experience)
- Good experience and knowledge in Life Insurance / Investment-linked / Savings Products
- Insurance qualifications would be advantageous
- Analytical, detailed, results driven and is comfortable to work with tight timelines
- Good knowledge of market trends and business oriented
- Good communicator and able to work with multiple stakeholders