Supports the Product Lead in the end to end product development process including actively reviewing the life and health 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 trends, differentiating product proposition and competitive comparisons to support new product development.
- Supports in conducting 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 assist in preparation of 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 delivery timeline and resolve any 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.
- Supports on the communication and drafting of product launch announcements.
- Supports on the post product launch monitoring.
- Keep abreast of market developments through market intelligence, research and competitive analysis, translating these into insights on market trends, business implications or new product ideas.
- Supports the Product Lead in the product review/performance and marketing initiatives such as campaigns and reviewing of materials, providing inputs, etc.
Qualifications:
- Degree in any field
- 5 to 8 years in the life insurance industry with experience in product development/ pricing, exposure to proposition development and project implementation
- Individuals with strong insurance development/business experience will also be considered
- Good knowledge of life and health 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
