Senior/Product Development Manager (Life Insurance and ILP)

INCOME INSURANCE LIMITED; Singapore; On-site; SGD 70,000 - 90,000; Full time

Job summary

A leading insurance provider in Singapore is seeking a Product Development Officer to support the product lead in Life Insurance and ILP product development. Responsibilities include conducting market research, monitoring product trends, and collaborating with stakeholders on product specifications. Ideal candidates have 5-10 years of industry experience and strong knowledge of Singapore's insurance regulations.

Qualifications

• 5 to 10 years in the insurance industry, specifically in Life Insurance and ILP product development.
• Strong knowledge of Singapore Life Insurance regulations and market trends.
• Ability to work under tight timelines and manage multiple stakeholders.

Responsibilities

• Conduct market research on new product developments.
• Monitor market developments and identify trends.
• Draft and update product specifications and presentations.
• Manage focus groups for product testing and feedback.
• Coordinate on regulatory developments related to product development.

Skills

Analytical skills

Team leadership

Communication skills

Market trend analysis

Detail-oriented

Education

Degree in any field

Job description

Supports the Product Lead in the end-to-end product development process including actively reviewing the Life Insurance and ILP products, providing recommendations on enhancement, withdrawal or development of new products.

Key Responsibilities

• Conducts market research on new product developments and prepare analysis to provide insights on market
• Monitor market developments and identify trends, differentiating product proposition and competitive comparisons to drive and support new product development and related initiatives.
• Manage and conduct focus groups with distribution/customers to test out new product ideas or get feedback on existing products.
• Responsible for drafting and updating product specifications and prepare the product presentation for Product Committee’s evaluation and approval.
• Collaborate with key stakeholders from the product implementation workgroup (e.g. distribution, operations, actuarial and product marketing) to channel inputs into the product proposition, manage deliverables and resolve implementation issues.
• Responsible for drafting of new product launch training slides, drafting/updating of product related materials (such as product summaries and product factsheet) as well as reviewing of product/fund materials, policy contract and FAQs.
• Responsible on the communication and drafting of product launch announcements.
• Responsible on any post product launch monitoring.
• Manage and coordinate on regulatory developments and requirements related to product development
• Supports the Product Lead in the product review/performance and marketing initiatives such as campaigns and reviewing of materials, providing inputs, etc.

Qualifications

• Degree in any field
• At least 5 to 10 years in the insurance industry with experience in Life Insurance and ILP product development/ pricing/proposition development and project implementation, and have team leading experience
• Good experience and knowledge in Singapore Life Insurance and ILP related products and regulations, and the latest developments
• Individuals with strong insurance development/business experience will also be considered
• Insurance qualifications would be advantageous
• Analytical, detailed, results driven and is comfortable to work with tight timelines
• Good knowledge of market trends and business oriented
• Good communicator and able to work with multiple stakeholders