Supports the Product Lead in the end-to-end product development process including actively reviewing the Life Insurance and ILP 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 Product 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.
Qualifications:
• Degree in any field
• At least 5 to 10 years in the insurance industry with experience in Life Insurance and ILP product development/ pricing/proposition development and project implementation, and have team leading experience
• Good experience and knowledge in Singapore Life Insurance and ILP related products and regulations, and the latest developments
• Individuals with strong insurance development/business experience will also be considered
• 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
