Senior Manager, Product, Pricing and Strategy Development

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Senior Manager, Product, Pricing and Strategy Development

Apply locations Kuala Lumpur, MY-AIA Malaysia time type Full time posted on Posted Yesterday job requisition id JR-59415

FIND YOUR 'BETTER' AT AIA

We don’t simply believe in being ‘The Best’. We believe in better - because there’s no limit to how far ‘better’ can take us.

We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives.

If you believe in better, we’d love to hear from you.

About the Role

This position leads the efforts to deliver insurance products to consumers in today’s digital landscape. The successful candidate will be responsible for designing and developing the right propositions and go-to-market strategies, including commercial proposals and negotiations for partnerships with various digital platforms. The candidate will also oversee the management of the digital insurance product portfolio and continuously develop the product roadmap for each partner. He / she will lead the team in researching and developing products, including defining product features, benefits, pricing, underwriting guidelines, and claims rules. Additionally, the candidate will work closely with the channel head to drive channel strategy and manage the channel’s P&L.

Roles and Responsibilities :

• Evaluate partner potential during pre-deal discussions and provide senior management with an assessment of customer and market size, customer profiling, proposition strategy, revenue potential, and other commercial factors.
• Collaborate with the Partnership team to lead the product strategy for preparing Request for Proposal (RFP) or Request for Information (RFI) for potential partners.
• Post-deal, work with partners to develop and optimize the product portfolio , regularly reviewing product performance metrics, including claims ratio, product penetration, and take-up rate.
• Develop go-to-market strategy with partners, including product portfolio and roadmap, detailed business plans, and the required operational structure and requirements.
• Lead the regular reviews of product performance , including sales target achievements, claims ratio, product penetration, and take-up rate. Lead the planning process for annual sales plans and product development roadmaps.
• Own the Digital Business product portfolio , ensuring viability and continue meet company’s direction, as well as in search of new opportunities to further improve. Ensure full compliance with regulatory guidelines too.
• Lead the development of insurance products , overseeing the product specifications design, development, and testing process from initial requirement gathering, to consumer research, benefit testing, pricing development, risk assessment, and system implementation through to rollout. Managing internal stakeholders and regulators for necessary product approvals.
• Lead the pricing and re-pricing for the insurance products, including prepare necessary documents for submission to Bank Negara Malaysia, Product Development Committee, Group Office, etc.
• Oversee the monitoring and continuous optimization of the Digital Business product portfolio post-launch, including regular updates to management on performance versus target, underwriting rule revisions, claims rule updates, pricing adjustments, and product iterations such as withdrawal and replacement.
• Collaborate with the Analytics team to derive insights for improving product performance and customer experience, while optimizing Customer Lifetime Value through targeted product offerings.
• Work closely with the Marketing teams to craft promotions and campaigns that drive sales and improve overall product performance.
• Support the channel head on the annual strategy planning and budgeting process for Digital Business channel, ensuring alignment with corporate objectives and facilitating cross-functional inputs as well as liaising with finance and actuarial colleagues for discussions and submissions.

Minimum Job Requirements :

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.

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At AIA we’ve started an exciting movement to create a healthier, more sustainable future for everyone. It's about finding new ways to not only better people's lives, but to better the communities and environments we live in.

As the largest listed company on the Hong Kong Stock Exchange, we’ve been proudly making a difference for people and communities across Asia for over a century. And we build on this every day with our ambition to engage one billion people to live Healthier, Longer, Better Lives by 2030.

If you work at AIA, you play an important part in this movement. Which is why we give you every opportunity to learn, grow and shape your career - your way.

Inspiring and supporting you to thrive - not just at work, but in life.

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