Job Description
Job Summary
The Product Executive conducts market and competition analysis, processes marketing research data and assists in the defining and implementation of the insurance product strategy of the company and roadmap.
Responsibilities and Duties
- Recommends the nature and scope of present and future product lines by reviewing specifications and requirements;
- Appraising new product ideas and / or product or packaging changes;
- Analyse existing products, suggest solutions for legacy issues and facilitate the implementation of such solutions;
- Conducts post-implementation product reviews;
- Determines customers’ needs and desires by specifying the research needed to obtain market information;
- Conduct market research including competitor analysis / external benchmarking both domestically and in target markets;
- Obtains product market share by working with marketing function and marketing agency to develop product sales strategies;
- Facilitates pricing by utilizing market research data;
- Tracking of new business sales volume / mix / value and developing corrective actions to achieve targets;
- Assisting with reporting requirements such as in relation to POG-related work, periodical returns etc;
- Implements the necessary changes to the product suite in order to meet the regulatory requirements;
- Maintain a keen understanding of industry trends and keep abreast of regulatory requirements;
- Making appropriate recommendations to ensure products are aligned to customer behaviours.
Skills and Experience
- Minimum of 3 years experience as a Product Executive or in a similar position;
- Experience of working in an Insurance environment preferably in Life Insurance;
- Highly developed communication skills both written and verbal;
- Ability to work under pressure and tight deadlines;
- Analytical with an eye for detail;
- Experience in data analysis and generation of MI;
- Insurance qualification would be considered an asset;
- Fluency in English is a must.
