Insurance Product Life Cycle Manager
3 weeks ago
Role/Job Title: Insurance Product Life Cycle Manager
Function/ Department: Wealth and Retail Banking
Job Purpose:
The Insurance Product Life Cycle Manager is responsible for owning and driving the product life cycle from high-level concept to design, delivery, and beyond. This entails aligning business and technical components to deliver banking needs to customers in a cost-effective and technologically savvy manner. Key responsibilities include managing teams, systems, processes, and culture to ensure consistency of delivery.
Roles & Responsibilities:
- Develop new product specifications based on customer inputs and ideation posts.
- Manage product life cycle, including customer segmentation and needs assessment.
- Prepare and obtain business case documents for distribution and internal approvals.
- Track channel performance and ensure adequate support from vendors and teams.
- Improve portfolio performance and quality through regular monitoring and recommendations.
- Work with pricing actuaries to obtain competitive product pricing within benchmarks.
- Use unstructured data to drive product mix and sales initiatives through concept development, training, product advocacy, and field management support.
- Be ready with solutions for complex system workarounds and ensure readiness before launch.
- Create quarterly themes with marketing and distribution to energize distribution and improve case size.
- Develop and manage product literature and marketing collateral consistent with policy documents.
- Ensure adherence to bank guidelines and regulatory requirements.
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