Senior Product Manager, Life Insurance

Core Job Responsibilities

Product Strategy and Ideation

• Define product roadmaps by aligning individual savings product strategies with overall corporate financial and growth goals.
• Conduct market intelligence and competitive analysis to identify market gaps, interest rate trends, and shifting consumer demographics.
• Design product propositions featuring unique savings structures, such as multi-currency options, policy split options, or flexible premium payment terms.
• Build business cases with evidence-based data to secure buy-in and funding from the Product Steering Committee (PSC) and executive management.

End-to-End Product Development

• Lead cross-functional working groups comprising Actuarial, Underwriting, Legal, Compliance, IT, and Operations teams to build out the product framework.
• Translate product concepts into precise technical and functional specifications for system configuration and policy drafting.
• Oversee financial viability by collaborating with pricing actuaries to model product profitability, guarantee structures, and non-guaranteed dividend/bonus scales.
• Direct User Acceptance Testing (UAT) for core administrative and illustration systems to ensure accurate benefit projections and quotation generation.

Regulatory Compliance and Governance

• Enforce product governance standards to ensure all savings literature strictly complies with internal risk policies and external regulatory bodies.
• Draft policy documentation, including policy provisions, Product Information Statements, and Benefit Illustration templates.
• Manage product due diligence assessments to mitigate conduct risks, ensuring savings products clearly disclose fees, surrender values, and investment risks.

Commercialization and Distribution Support

• Create Take-to-Market strategies tailored across diverse networks like Agency, Bancassurance, Brokerage, and Digital channels.
• Develop sales compensation schemes and marketing campaigns to incentivize frontline distribution partners and drive target sales behaviors.
• Produce training tools and launch packs highlighting key selling edges, competitive advantages, and target customer segments.

Lifecycle Management and Optimization

• Monitor financial performance by analyzing sales volume, policy retention rates, profit margins, and surrender trends.
• Revamp existing lines through targeted enhancements, policy options, or rider extensions to maintain market competitiveness.
• Manage Team Performance by mentoring junior product managers and development officers to sustain a high-performing department.

Requirements

• Bachelor's degree holder, preferably majoring in Actuarial related discipline
• A minimum of 10 years of experience with solid exposure to product development of saving products
• Fluency in Cantonese and English