Manager, Product Development

Hong Leong MSIG Takaful Berhad; Kuala Lumpur; On-site; MYR 60,000 - 80,000; Full time

Job summary

A leading takaful provider in Malaysia is seeking a skilled professional to enhance product development and marketing. Responsibilities include identifying product gaps, developing proposals, and ensuring compliance with regulatory standards. The ideal candidate has at least 5 years of experience in the insurance industry, strong communication skills, and a relevant bachelor's degree. This position offers a chance to drive innovative solutions within a reputable organization.

Qualifications

• At least 5 years of working experience in the insurance/takaful industry.
• Well versed with Bank Negara guidelines for product development.
• Excellent interpersonal skills and ability to work under pressure.

Responsibilities

• Identify product gaps and propose new products.
• Develop product specifications and negotiate pricing.
• Conduct training sessions for agents and distributors.
• Review and enhance product development processes.

Skills

Product development

Marketing

Pricing

Interpersonal skills

Communication

Education

Bachelor's degree in Actuarial Science, Marketing, or Statistics

Job description

Responsibilities

• Identify product gap, initiate new product proposal, develop specification and negotiate with pricing team for competitive pricing and profitability.
• Design and develop marketing materials for product launches.
• Lead in product enhancements and development of new and existing products where necessary.
• Co‑manage with the pricing team the development and maintenance of Benefit Illustration file/software and/or calculators.
• Lead and develop certificate contract development for new and existing products.
• Conduct focus group discussions with agents, distributors and consumers.
• Conduct product comparison relative to competing market offerings.
• Continuously review and enhance product development and approval processes for rapid time‑to‑market while adhering to regulatory requirements.
• Provide ongoing product support to agency and partnership distributors on all matters related to products.
• Conduct product training for staff.
• Facilitate product training for trainers and distributors.
• Stay up‑to‑date with the latest compliance and regulations from Bank Negara Malaysia and industry associations.
• Guide and develop subordinates to prepare for a third‑line managerial role.
• Ensure timely communication to sales personnel and staff regarding product launch updates.
• Guide staff in analysing customer data to identify cross‑selling and upselling opportunities.
• Understand customer purchasing behaviour to personalise experience and streamline operations.
• Identify and mitigate risk for products vulnerable to moral hazard such as medical‑related products.
• Initiate campaign proposals, develop campaign specifications, and produce marketing materials for campaign launches.

Qualifications

• At least 5 years of working experience in the insurance/takaful industry, particularly in product development, marketing and/or pricing.
• Well versed with Bank Negara and industry guidelines for product development and marketing.
• Excellent interpersonal skills – good communication and influential abilities, team player, organized, capable of interacting with all levels of management, able to work under pressure and attentive to detail.
• Bachelor’s degree in Actuarial Science, Marketing, Statistics or any other related background.

A key component of Hong Leong Financial Group (HLFG) Malaysia’s Islamic financial service, Hong Leong Takaful offers a range of innovative and comprehensive family takaful solutions and services for the retail and corporate sectors, driven by strong Shariah principles.

Proud winner of the following awards:

• Malaysia Excellence Business Awards (MEBA) 2019 for Excellence in Takaful Services
• BrandLaureate World Halal Best Brands Award 2018 for Best Brands in Takaful Solutions
• Kuala Lumpur Islamic Finance Forum (KLIFF) 2016 for Most Outstanding Takaful Product (i‑Care Hasanah)

A member of the Hong Leong Group, one of Southeast Asia’s largest conglomerates.