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Section Head, Group Product Development in Singapore at Great Eastern

Date Posted: 7/8/2018

Job Snapshot

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Job Description

Job ID: 000569

Job Purpose

The Section Head is responsible to lead the section to drive, manage and execute product development initiatives to support GELS' strategies. He/She will also assist the HOD to perform Group oversight by supporting GELM, GETB, GELI and Group Insurance (Life) in product development and obtain product approval from GPMAC.

The Job

  • Assist HOD in coordinating the Annual Product Review and formulating the product development plan.
  • Drive conceptualization (including idea generation and idea screening), design and development of innovative product solutions drawing insights provided by sales/marketing/actuarial team
  • Coordinate the iteration of product design and pricing between Group Product Management, Actuarial and reinsurers.
  • Ensure there is sufficient understanding of own product and external competition and customer insights through market intelligence and competitive analysis and apply insights for product development and innovation or recommend call to action.
  • Work closely with Actuarial and Change Implementation and communicate product requirements for pricing and system implementation effort
  • Recommends product and pricing strategy, triggers product risk assessment and prepare product approval documentation and business casing.
  • Review and obtain sign off for Product Write-Up, Policy Contract, Product Summary and other management or administrative reports, where applicable.
  • Coordinate and obtain sign-off for Product Business Case from relevant Functional Heads, and submit for GPMAC’s approval.
  • Deputize HOD for product liaison role for Government Schemes (e.g. Integrated Shield Plan, ElderShield, Dependents’ Protection Scheme, CPFIS, SRS, etc.) where appropriate.
  • Provide group oversight and support to the Local Product departments of one or more entities within the Group (ie. GELM, GETB, GELI and Group Insurance (Life) to review and enhance their product initiatives; discuss and seek concurrence from Group Actuarial and Group Risk Management; and recommend them for GPMAC’s approval.
  • Support HOD in discharging GPMAC Secretariat duties and coordinate with the Local Product departments for follow up actions and management reports.
  • Ensure adherence to regulatory requirements, industry standards relating to product development and company-wide policies.
  • Build, develop and lead a high performing, competent and engaged team in meeting GPD’s KPI and staff engagement score.

Job Requirements

Our Requirements

  • Tertiary education qualification in Actuarial, Insurance, Finance or Marketing related disciplines.
  • Minimum 10 years of relevant experience in product pricing, development or marketing.
  • Strong domain knowledge in insurance products.
  • Possess strong traits of analytical-minded, strong technical knowledge on financial and insurance concepts and have good quantitative abilities
  • Excellent planning, organizational, influencing and interpersonal skills.
  • Excellent written and verbal communication skills and presentation skills.
  • Action and project oriented individual with focus on improvement and change and ability to work under pressure or tight time lines.

To all recruitment agencies: Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.