The Life Product Director is:
Directly accountable for the development and implementation of segmentation strategies to maximize revenue, growth, volume and penetration
Joint accountability with underwriting with respects to profitability and growth
Ensure strategic pricing of the products and strong understanding of profitability, drivers and metrics
Drive the value proposition of services within the overall product offering
Developer of budgets/forecasts in support of the long-term operating plan to enable achievement of 3-5 year financial goals
Assess gaps in product offerings and establish new product priorities. Drive innovation for an assigned set of products including development of product development priorities
Ensure continued compliance with all applicable rules and regulations, develop business cases for new products and product enhancements and prioritize product development and filing initiatives
Works in collaboration with Business and Market Alignment to deliver the Group Benefits value proposition.
Collaborate with Distribution to provide product expertise to segmentation, new business acquisition, client management and renewal strategies and together monitor progress
Ensure that products are competitive from a pricing and coverage standpoint and assure that all products are in compliance with insurance laws, regulations and AIG strategic plans with assistance from legal compliance as it pertains to the discovery and interpretation of regulations, the management of filing submissions, and the notification of key due dates.
Integrates all of the different disciplines of US Group Benefits to grow as fast as possible while hitting our profit target, and maximize our competitive differentiation in the market
Ensure product integration with marketing, sales, underwriting and operations and maintain a strong understanding of changing legislative, regulatory, market and competitive landscape to drive profitable growth of new and existing products.
Provide leadership to instill high-performance culture
Position Requirements:
Preferred minimum of 5+ plus years product management, sales and or underwriting experience, with at least 3-5 years in a with Group insurance products expertise.
Strong understanding of the multinational corporate market place from a risk management and benefit management standpoint
Analytical and quantitative skills
Strong customer service ethic, with a sound understanding of the business processes
Strong knowledge and commitment to sustainable practice as required by evolving regulation. Knowledge of multinational agreements
Knowledge of market segmentation, portfolio management, acquisition and multiple distribution systems
Demonstrable track record of successful client management and client acquisition and extensive experience with large national accounts
Proven ability to lead, motivate and gain commitment and trust from colleagues
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