Manager, Product Development (Life Insurance)

Allianz Malaysia; Kuala Lumpur; On-site; MYR 120,000 - 170,000; Full time

Job summary

Allianz Malaysia invites a product development professional to own end-to-end product lifecycle, coordinating with distribution channels, reinsurers, and market research to align with the company’s strategy and targets.

You will liaise with reinsurers on design and requirements, conduct focus groups, perform market intelligence, and prepare materials for approvals across PMC/SMC/BNM. You will support implementation, lead walkthroughs, draft policy docs, and drive training and campaigns.

Qualifications

• Minimum Bachelor's Degree in Actuarial Science or equivalent.
• At least 5 years' experience in Product Development, Actuarial Science, or Pricing.
• Strong analytical acumen, technical grounding and project management skills.

Responsibilities

• Conceptualise product design and gather ideas from distribution, reinsurers and market research.
• Coordinate with reinsurers on product design, including pricing, definitions, and underwriting.
• Conduct focus groups and market intelligence to assess competitiveness and campaigns.
• Prepare materials for product approvals and support implementation activities.

Skills

Analytical thinking

Project management

Communication skills

Customer-centric mindset

Education

Bachelor's degree in Actuarial Science

Tools

ChatGPT

Copilot

Job description

Looking for a career that allows you to take ownership of your work?

As part of the product development team, to actively strategies and drive the development and implementation of a product or initiative under different distribution channels, in line with the Company’s overall product strategy to meet its financial and strategy targets

You’ll be responsible for:

• To conceptualise the product design, including obtaining ideas from the distribution, reinsurers, market research, etc.
• Liaise or assist superior with liaising with reinsurers on the product idea/design and to finalise all product requirements (including pricing, definitions, underwriting, etc.)
• Conduct/plan any focus group required to finalise the design, working with respective distribution channels and/or Market Management. Tasks include preparation of materials, working on the timeline, collecting feedback or performing the focus group itself.
• Conduct market research/intelligence on a frequent basis to not only determine competitiveness of products being developed but to also ascertain the direction competitors take from a product perspective. This also includes product, marketing or underwriting campaigns.
• Preparation of materials needed for product approval (including for local Product Management Committee (PMC)/ Senior Management Committee (SMC), Allianz Asia Pacific Product Management Committee (AZAP PMC) and Bank Negara Malaysia (BNM)
• To support the Implementation Team in the area of the implementation portion of the product development cycle. This includes reviewing and amending/adding to the URs, test plans, UAT results and supporting the Implementation team on detailed discussions with PIC members on the operational and system related issues pertaining to products
• Take the lead in guiding product walkthroughs with PIC members, answering any questions related to the product
• Draft policy contract, PDS/SI, Training materials and review marketing materials
• Conduct train-the-trainer sessions and support, if required, distribution training sessions or conducting the training sessions itself.
• Determine the mechanics of any product campaigns
• Attend to queries/complaints/feedback raised by customers and distribution force
• Support the acquisition of new channels/partners
• Provide guidance to any team members on product related items
• Develop, lead and train staff reporting to him/her
• Handle all ad-hoc assignments given by superior

Important to your success:

• Minimum Bachelor's Degree in Actuarial Science or equivalent.
• Minimum 5 years of working experience in Product Development, Actuarial Science, or Pricing functions.
• Strong analytical acumen, technical grounding, and project management skills.
• Exceptional communication skills with a proven ability to lead, manage time effectively, and maintain a customer-centric approach.
• Proven track record of operational and execution excellence in a fast-paced environment.
• Familiarity with AI tools like ChatGPT or Copilot is an added advantage.