Manager, Product Development

Hong Leong MSIG Takaful; Kuala Lumpur; On-site; MYR 80,000 - 120,000; Full time

Job summary

A leading insurance company in Kuala Lumpur seeks a Product Development Lead to identify gaps, propose new products, and enhance existing ones. The ideal candidate has at least 5 years in the insurance or takaful industry, strong communication skills, and a relevant bachelor's degree. The role involves engaging with agents and conducting product training, while ensuring compliance with regulatory guidelines. Join this dynamic team and make a significant impact in the product development space.

Qualifications

• 5+ years in the insurance/takaful industry, ideally in product development or marketing.
• Familiarity with Bank Negara guidelines for product development.
• Strong interpersonal skills for effective communication and teamwork.

Responsibilities

• Identify product gaps and propose new products.
• Lead product enhancements and oversee development.
• Conduct product training sessions for staff and distributors.

Skills

Interpersonal skills

Communication

Team player

Attention to details

Education

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

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 product enhancements and development of new and existing products.
• Co‑manage with pricing team on development/maintenance of Benefit Illustration file/software and/or calculators.
• Lead and develop certificate contract development for new and existing.
• Conduct focus group discussions with agents, distributors and consumers.
• Conduct product comparison related to the product offerings in the market.
• Continuous review and enhancement of product development and approval process for fast time‑to‑market while adhering to regulatory requirements.
• Provide ongoing product support to agency/distribution partners in all product matters.
• Conduct product training for staff.
• Facilitate product training to trainers/distributors.
• Keep up to date with latest compliance and regulations by Bank Negara Malaysia and associations.
• Guide and develop subordinates to be prepared for 3rd‑line managerial role.
• Ensure timely communication to sales personnel and staff on product launch updates.
• Guide staff to analyze customer data and identify cross‑sell or upsell opportunities.
• Understand purchasing behavior of customers for future product development, personalizing customer experience and streamlining operations.
• Deter and mitigate risk for products vulnerable to moral hazard (e.g., medical related products).
• Initiate campaign proposals, develop campaign specifications, and produce marketing materials for campaign launches.

Job Requirements

• At least 5 years of experience in the insurance/takaful industry, especially 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, influential, team‑player, organized, able to interact with all levels of management, able to work under pressure, with attention to details.
• Bachelor's degree in Actuarial Science, Marketing, Statistics or any other related background.