Vice President - Consumer Propositions - Protection

The Great Eastern Life Assurance Company Limited; Singapore; On-site; SGD 180,000 - 240,000; Full time

Job summary

The Great Eastern Life Assurance Company Limited seeks a seasoned leader to head Customer Propositions - Protection within the Products and Propositions department in Singapore. You will shape product strategy, drive protection-focused propositions, and align with regional insights and regulatory requirements.

Reporting to the Head of Products and Propositions, you will mentor teams, share Group strategy, and partner with actuarial, underwriting and operations to deliver customer-centric

Qualifications

• Minimum 10-15 years of relevant experience in product pricing, development or marketing.
• Strong domain knowledge in insurance products.
• Analytical mind with the ability to seed ideas and inspire creativity/resourcefulness.
• Strong communicator to articulate ideas and convince stakeholders.
• Excellent planning, organisational, influencing and interpersonal skills.

Responsibilities

• Define and drive the product innovation roadmap focused on Protection solutions.
• Develop and execute product strategy aligned with business objectives and customer-centric needs.
• Lead ideation, development and launch of life insurance products for target segments.
• Collaborate with cross-functional teams to ensure feasibility and compliance.

Skills

Leadership

Product strategy

Insurance expertise

Stakeholder management

Market research

Education

Bachelor's degree in Actuarial, Insurance, Finance or Marketing

Job description

We are seeking a dedicated & driven individual to lead the Customer Propositions - Protection teams within the Products and Propositions department.

Reporting to the Head of Products and Propositions, you will be responsible for GELS product strategy; delivering products and propositions focusing on Protection solutions with a strong emphasis on customer-centricity and targeted consumer segments that align with the company’s strategic direction and business needs, while maintaining financial objectives.

You will be responsible for GELS product shelf management across the main product lines (protection, medical & health).

You will be the regional conduit for products and propositions knowledge – sharing Group Product strategy and direction, Singapore market insights, customer trends with other local entities and synthesising regional learnings for GELS, and identifying opportunities to enhance GELS products and customer propositions.

Key Responsibilities

• Product Strategy and Development:
  • Define and drive the product innovation roadmap with Head of Products & Propositions focused on Protection solutions.
  • Develop and execute the product strategy in alignment with the company’s overall business objectives, with a focus on customer-centric solutions.
  • Work with the teams to lead the ideation, development, and launch of new life insurance products and propositions focused on Protection needs tailored to specific consumer segments.
  • Conduct market research, consumer analysis and be abreast of industry trends and market knowledge to identify opportunities for product innovation and differentiation.
  • Collaborate with actuarial, underwriting, operations and other cross-functional teams to ensure product feasibility and compliance.
  • Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
• Marketing and Propositions:
  • Develop compelling value propositions and go-to-market strategies for life insurance products.
  • Work closely with the marketing team to create effective product marketing campaigns and materials that are tailored to resonate with different consumer segments.
  • Ensure consistent messaging and positioning of products across all marketing channels, focusing on customer-centric narratives.
• Customer Focus:
  • Advocate for customer-centric product development, ensuring products meet the needs and expectations of target consumer segments.
  • Utilise customer insights and feedback to drive product improvements and innovation.
  • Enhance customer engagement and satisfaction through innovative product features and services that address specific consumer needs.
• Regional Products & Propositions Knowledge Sharing & Stakeholder Enablement:
  • Serve as the regional subject‑matter expert on GELS products and customer propositions, Group product strategy and direction with local entities.
  • Provide Singapore market trends and customer insights, and competitive intelligence to local entities to foster creation of innovative products and propositions.
  • Facilitate knowledge exchange, and collaboration between other local entities and GELS, to increase innovative ideas sharing and reduce possible duplication between entities.
• Lead the team and instill critical thinking and solutioning mindset and propagate to team leads across all product lines (protection, medical & health).
• Mentor and guide team members to elevate skills set to successfully launch products from ideation to market launch.
• As part of the leadership team, work with key stakeholders to proactively shape the organisation’s culture and conduct environment that is aligned to the organization’s Core Values.
• Champion culture and conduct behavioral expectations within the Department/Division.

Qualifications

• Tertiary education qualification in Actuarial, Insurance, Finance or Marketing related disciplines
• Minimum 10-15 years of relevant experience in product pricing, development or marketing
• Strong domain knowledge in insurance products;
• Possess strong traits of analytical mind, with the ability to seed ideas, link ideation and inspire creativity / resourcefulness;
• Strong communicator to articulate ideas and convince stakeholders;
• Excellent planning, organisational, influencing and interpersonal skills;
• Action and project oriented individual with focus on improvement and change and ability to work under pressure or tight timelines;
• Demonstrates alignment with the organisation’s core values through expected behaviours
• Demonstrates high level of integrity, takes accountability of work and a collaborative mindset.
• Takes initiative to improve current state of things and adaptable to embrace new changes
• Possesses strong problem-solving and interpersonal skills

• Champion and embody our Core Values in everyday tasks and interactions.
• Demonstrate high level of integrity and accountability.
• Take initiative to drive improvements and embrace change.
• Take accountability of business and regulatory compliance risks, implementing measures to mitigate them effectively.
• Keep abreast with industry trends, regulatory compliance, and emerging threats and technologies to understand and highlight potential concerns/ risks to safeguard our company proactively.

Founded in 1908, Great Eastern is a well-established market leader and trusted brand in Singapore and Malaysia. With over S$100 billion in assets and more than 16 million policyholders, including 12.5 million from government schemes, it provides insurance solutions to customers through three successful distribution channels – a tied agency force, bancassurance, and financial advisory firm Great Eastern Financial Advisers. The Group also operates in Indonesia and Brunei. The Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength and counterparty credit ratings of "AA-" by S&P Global Ratings since 2010, one of the highest among Asian life insurance companies. Great Eastern's asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia. Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.