DVP, Product Development (Health and Protection) from a Direct Insurer (Singapore)
Responsibilities:
- Individual Health and Protection product development and management aligned to company strategy.
- Input into the Life product fund strategy.
- Responsible for the management of Health and Protection products including due diligence, onboarding, ongoing review and offboarding, liaison with Third-Party Life product manufacturers.
- To co-lead, conform to and evolve the Product Development Policies and Process of the company.
- To drive, contribute to the agenda and present at CBE Product/Product Management Committee, eg Health and Protection product updates, different stages of Health and Protection product approvals, ie Stage 1, Stage 2, post-launch reviews.
- Implementation of new Health and Protection products, and product -related changes through and with the support of Product Implementation Work Group (PIWG).
- Ongoing review of Health and Protection products to ensure they continue to be fit-for-purpose with the support of the Actuarial Team (AT), Claims, Underwriting and other functions as required.
- To identify, assess, manage, mitigate and monitor the risks associated with Health and Protection product development and management.
- To ensure all Health and Protection product-related regulatory and compliance requirements are met.
- Coaching and personal development of the Health and Protection product team.
- Working collaboratively internally with PIWG, Marketing, Strategic Communications, Brand, Distribution, Pricing, Actuarial, Finance, Operations, IT, Risk and Compliance etc to accomplish company objectives.
- Working collaboratively with external parties, as needed, to move the company agenda forward, eg reinsurers, consultants, third-party Life product manufacturers etc.
- To be a key contact as appropriate with MAS, CPF, LIA, MOH, Ministry of Finance, Singapore Deposit Insurance Corporation Limited (SDIC) etc.
- To participate, represent and present at company or external events on Health and Protection products as required.
Requirements:
- Minimum of 10 years of Health and Protection product management/actuarial experience.
- Strong business and financial acumen.
- Strong local knowledge of Singapore market, competitors/products, regulations.
- Capability to build strong professional working relationships with regulators and other industry bodies (MAS, CPF, MOH, LIA, SDIC etc) and navigate the necessary regulatory processes.
- Proven experience in influencing and aligning other functions to meet product development/ management goals and timelines.
- Strong business relationships/ partnerships with reinsurers, fund houses, all distribution channels (eg agents, FAs, banks etc).