Head of Product Development & Management
Accountability:
- Design and develop innovative products that are customer centric and profitable
- Work closely with distribution channels from ideation stages through to launch, developing channel specific product strategies and providing key input towards product design.
- Lead the end-to-end product development and implementation cycle.
- Post launch tracking on customer adoption and obtain insights for future enhancements.
- Managing people, to develop a strong bench of talents within the product team.
Key Responsibilities :
- Initiate and develop product strategies (new products, enhancements, campaigns) for each distribution channel (Agency, Bancassurance, Direct Marketing/Telemarketing, Worksite etc) in line with market & customer needs, overall company positioning and profitability requirements.
- Develop and lead the Product Development Process to ensure that product development projects are completed in a timely and effective manner. This includes collaborating with a wide variety of functional areas such as distribution channels, IT/Operations, Marketing, Training, Actuarial Pricing, Product Champions etc. to execute various product development projects and campaigns.
- Strengthen Product Marketing capability to increase sales force’s production and company profitability through clear product propositions, positioning & packaging, product marketing materials and sales tools.
- Propose and implement Marketing plans for the product category under overall brand vision covering all elements of the marketing mix.
- Establish and enhance competitor product intelligence capability to monitor, assess (benefits /features, pricing) and effectively respond to competitor product offerings. Be aware of the development trends of the Life Insurance industry both in the local market and emerging international insurance markets.
- Be prepared to respond to multiple requests from senior management, distribution channels and other relevant departments on new products and product enhancements.
- Effectively engage sales force to ensure successful launching of newly developed products as well as enhancements. Gain confidence of key Agency leaders and Banking partners.
- Effectively manage the monthly Product Steering Committee meeting to ensure timely updates of product development strategy and plan for senior management’s decisions.
- Meet the ** Group product approval process while ensuring active engagement with Group stakeholders.
- Support regulatory engagement and lobbying efforts to drive product innovation in Vietnam, working closely with the Chief Actuary, Appointed Actuary and the Head of Pricing to engage directly with ISA product approval team when required.
- Ownership and oversight of all Day 2 product feature and process delivery.
- Build up and enhance capability and expertise of Product Development & Management Team. Ensure strong teamwork and optimize product team structure for effective implementation of product strategies and initiatives.
Requirements :
Qualification: University Degree in a business-related discipline
Experience: At least 5-year experience in developing/marketing life insurance products, with further years of working experience in aggregate across the insurance industry.
Knowledge and skill set:
- Good analytical skills
- Excellent communicator, both verbally and in writing
- Organized and methodical
- Strong project Management skill
- Actuarial background would be highly desirable
- Integrity, Collaboration, Delivery Excellence, Innovation, Care
- Strong leadership skills
Job’s attributes:
- Have an instinctive feeling about future product concept
- Be a good listener, able to respond to results and consumer research
- Be able to work well with a wide range of people from different parts of the business
- Be a team leader, able to inspire others
- Be able to work well under pressure
- Be proactive in managing tasks assigned independently