Product Development Lead (Insurance)

Lewis Personnel Management; Metro Manila; On-site; PHP 800,000 - 1,200,000; Full time

Job summary

Lewis Personnel Management in the Philippines is seeking a senior Product Development professional to lead the design and development of life insurance products, including term, whole life, endowment and investment-linked policies. You will continuously improve offerings to reflect customer needs, actuarial soundness, and market competitiveness.

You will conduct in-depth research on industry trends, customer behavior, and the competitive landscape, translating insights into viable product

Qualifications

• Bachelor's degree or equivalent in a quantitative field.
• 3–6 years of experience in Life Insurance product development.
• Knowledge of local regulatory frameworks governing life insurance.
• Familiar with RBC, actuarial guidelines, and market conduct rules.

Responsibilities

• Lead design and development of new life insurance products (term, whole life, endowment, investment-linked).
• Improve existing products reflecting customer needs and market competitiveness.
• Research industry trends, customer behavior and competitive landscape; translate insights into product concepts.
• Generate and assess product ideas from market research and strategic goals.
• Collaborate with underwriting, legal, ops, IT, compliance, and marketing during design.
• Work with actuaries to finalize pricing, reserves, and profitability assumptions.
• Ensure products meet governance and regulatory requirements.
• Coordinate with IT to ensure core systems support new products.
• Monitor lifecycle performance: persistency, claims, and customer satisfaction.
• Support marketing, sales, and training with product knowledge and launch materials.

Skills

Product development

Life insurance

Regulatory knowledge

Quantitative analysis

Excel/Power BI

Stakeholder management

Education

Bachelor's Degree

Tools

Excel

Power BI

Actuarial software

Job description

About the role

Lead the design and development of new life insurance products (e.g., term, whole life, endowment, investment-linked). Continuously improve existing products to reflect customer needs, actuarial soundness, and market competitiveness. Conduct detailed research on industry trends, customer behavior, and competitive landscape, translating insights into product concepts that align with the company's strategic direction.

Key responsibilities

• Lead the design and development of new life insurance products (e.g., term, whole life, endowment, investment-linked)
• Continuously improve existing products to reflect customer needs, actuarial soundness, and market competitiveness
• Conduct detailed research on industry trends, customer behavior, and competitive landscape
• Generate and assess product ideas based on market research, distribution feedback, and strategic goals
• Engage with underwriting, legal, operations, IT, compliance, and marketing during the product design process
• Work closely with actuaries to finalize pricing, reserves, and profitability assumptions
• Ensure all products meet internal governance standards and external regulatory requirements
• Ensure the readiness of core systems to support new products through close coordination with IT
• Monitor product performance across its lifecycle, including persistency, claims, and customer satisfaction
• Support marketing, sales, and training teams with necessary product knowledge and launch materials

About you

• Bachelor's Degree / 4-Year Course Graduate (Mathematics, Economics, Marketing, Business preferred)
• At least 3-6 years of experience in Product Development (Life Insurance)
• In-depth understanding of local regulatory and compliance frameworks governing life insurance products, including approval processes with relevant financial authorities
• Familiarity with actuarial guidelines, risk-based capital (RBC) frameworks, and market conduct rules
• Keen interest in InsurTech trends, digital distribution channels, and how technology is transforming life insurance
• Strong quantitative and analytical skills, with the ability to interpret data, assess product performance, and model business outcomes
• Proficient in tools such as Excel, Power BI, or other data visualization software; experience with actuarial or product modeling software is a plus
• Demonstrated ability to develop creative and commercially viable product solutions based on market insights, customer needs, and operational capabilities
• Ability to work independently and proactively in a fast-paced, evolving environment
• Proven ability to work effectively across departments including actuarial, legal, marketing, IT, sales, and compliance