Job Description - Bancassurance Product Manager (240001MO)
Bancassurance Product Manager - (240001MO)Achieve business financial objectives by developing, leading, and implementing product strategy for life/takaful insurance business.
ResponsibilitiesProduct Development Support
Provide support in terms of new product development, product enhancement, preparation before product launch (training, sales collateral, notification to regulators).
Build saving and protection type products for all customer segments.
Work with distribution to enhance insurance knowledge and sales competency.
Act as Key Relationship Manager with insurance companies.
Collaborate with the analytic team to identify suitable insurance products to be distributed via alternative channels apart from face-to-face.
Partner with product suppliers to improve sales productivity through better digital sales execution.
Ensure adherence to guidelines issued by regulators.
Partner with GE on data-driven underwriting to improve lead generation and next best insurance products to enhance conversion to Banca sales.
Customer Experience and Service Champion
Manage all inquiries and requests made by sales staff.
Communicate to respective stakeholders on all changes in sales processes for existing products.
Work with business partners to update on all new product launches by competitors, make product comparisons, and communicate salient points of our existing products and how to pitch and position them according to customer needs.
Collaborate closely with business partners to ensure smooth sales process flow and good customer experience for internal and external customers.
Ensure that customer complaints are investigated, treated fairly, and set corrective action plans to minimize complaints and increase customer satisfaction.
Managing Reporting and Analysis
Recommend or monitor performances of distribution channels – persistency, participation, and productivity by segment.
Perform monthly reporting on sales and revenue, and GL reconciliation.
Conduct data analysis and interpretation – sales productivity by segment and product portfolio for Life Insurance.
Manage communication related to products on website, SharePoint, and product catalogue.
Oversee the administration of the department (reporting, regulatory & compliance).
QualificationsPossess relevant working experience, with at least 5 years in Bancassurance product management or insurance industry experience, preferably in Life Insurance.
Good understanding of customer segmentation and ability to develop innovative and competitive products supported by proposition needs.
Strong interpersonal skills to manage product suppliers (Great Eastern, Great Eastern Takaful) as well as internal stakeholders (e.g., branch, telemarketing, legal, compliance) in developing products across multiple channels (such as brick-and-mortar, digital sales, telemarketing) to achieve revenue goals and business objectives.
Key competencies include exemplary oral and written communication skills, analytical skills, proactivity, and being a team player.#J-18808-Ljbffr