Senior Product Development Manager (INSURANCE)

The position within Cebuana Lhuillier INSURANCE Brokerage is primarily responsible for developing and managing new insurance products for , as well as the enhancement of existing products under the insurance portfolio (traditional and non-traditional). The position is also responsible for overseeing the documentation and compliance with governing laws and regulations of insurance products.

Requirements

• Relevant experience in product life cycle of INSURANCE products (i.e. market analyses, ideation/strategy, business cases, board presentation, implementation and success factor monitoring
• Reviews product feasibility and concept studies to develop new products and/or innovate existing products
• Conceptualizes new products and/ or innovates existing products based on feedback from Sales Channels and relevant support units
• Determines the current metrics (product scope/specification, performance report, pricing, loss ratio minimization, etc.) and recommends modification of future product lines and/or enhancement of the current to strengthen the products in the market
• Communicates with Sales Channel Group to determine competitive product pricing and discount allowances. Implements pricing, bundling and discount strategies
• Ensures full documentation and agreement to contract in compliance with governing laws and regulatory requirements
• Presents the product proposal to CLIB Head and to Insurance Product Division Head
• Oversees the overall product cycle from conceptualization, pilot testing, and validation of initial results (performance, volume, profitability, client reception, etc.)
• Plans profitability targets for product categories. Collaborates with Sales Team for developing sales strategies, setting sales targets, and maximizing sales channels
• Leads periodic product performance review and utilizes data analytics. Monitors irregular transactions that need investigation for possible fraud activities
• Develops the product training materials and communication strategies. Oversees the implementation of these programs
• Collaborates with IMCG for the formulation and launch of marketing and promotion campaigns
• Designs the product content of customer feedback survey. Reviews the result of the survey and analyzes impact of results to product performance and target business growth
• Responds to escalated concerns about technical product issues

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Qualification

• Graduate of any four-year course, preferably with a master's degree in business administration
• Experience within the insurance industry or insurance brokerage, REQUIRED
• At least five (5) years of work experience in insurance product development and management in any insurance companY