Job Description
The lead person that will handle the end-to-end product life cycle for insurance products within the brokerage. The product manager together with the sales teams is also responsible for the attainment of insurance revenue goals from both new accounts and renewals. Other tasks include:
- Ensures the approval of new insurance products by
- Preparing the documentation together with the provider/s for new products to be onboarded in UFSI
- Submitting documentation to relevant approving bodies within UB Wealth / UFSI, or regulatory agencies as may be applicable
- Presents and articulates to these approving bodies the business opportunity of the new product
- For new and existing products, the product manager must identify and manage the following:
- Product roadmap, i.e. when the product should be enhanced or retired
- Distribution, i.e. how the product will reach new and existing customers
- Marketing materials development together with the product provider and relevant internal stakeholders like Marketing, Legal, and Compliance
- Together with the team, develop campaigns to
- Establish a customer pipeline prior to the launch of a new product
- Generate new business opportunities and propositions for existing products
- Pursues opportunities for cross selling and general insurance products within the UnionBank group ecosystem like Wealth client base, credit cards, and other potential segments
- Conduct regular cadence meetings with the product provider/s to align on new products, initiatives, and strategies to grow the insurance business
- Keep abreast of developments in the insurance industry as well as changing regulatory landscape
- Partner with the product provider to conduct regular trainings, roadshows, and other activities to drive seller engagement to general insurance products
- The product manager together with the Insurance Product Head will be responsible in identifying and onboarding potential new insurance product providers
- Provides support for the following instances:
- Monitoring and providing of evidence related to Risk and Control self-assessment / RCSA
- Peer reviewer for team members customer campaigns, reports, and other submissions
- On an ongoing basis, reviews and updates the product program to ensure its applicability and alignment with relevant regulatory developments and business requirements
- Strategize with the Insurance Product Head on growing revenues to leapfrog growth of UFSI's insurance business
- Ensures adherence with other business control, compliance and other relevant governance responsibilities in relation to insurance product management
Qualifications
- Graduate of Business Course Management, Finance, Marketing and/or related disciplines
- Must have at least 5 years of General Insurance product and distribution knowledge and experience
