Senior Manager, Group Proposition

About FWD Group

FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.

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PURPOSE

This role will be one of the main contributors towards developing FWD’s Product strategy innovation and position as thought leader in the market.

He/she will be responsible for generating and managing the development of new propositions and solutions driven from customer insights emerging trends and market opportunities that support the strategic growth areas and address customer needs across all FWD markets, in line with FWD’s vision of changing the way people feel about insurance.

KEY ACCOUNTAIBILITIES

Market Research and Analysis

• Be responsible for the sourcing and production of regional research ensuring these are designed to gain deep insights on customer behaviour and traits that can be used to develop or improve future propositions across markets for target consumer segments
• Collaborate with other group office functions to develop research and insights and identify opportunities that are customer led and align to Company, brand and Distribution strategy
• Assess and analyze competitor and market developments and share insights to inform group and BU product strategy and identify the white space.
• Develop and manage market intelligence and competitor reporting and distribute to senior management commenting on the market and competitor trends and providing recommendations resulting in actionable insights.
• Own and undertake bespoke research to support the GPP team and local Bus as required.

Proposition Strategy

Strategy development:

• As a subject matter expert, provide guidance to countries on strategy and innovation
• Development of templates and tools to enhance countries’ capabilities in their end-to-end development of product strategy
• Support any initiatives related to product propositions strategy when required
• Work closely with group departments including group strategy to ensure that proposition strategy is aligned to group strategy and business planning
• Synthesize ideas and core capabilities and input into commercialization plans for innovative strategic solutions working with Business partners, local product heads and group office teams
• Develop proposition strategies for all products in the A+H, protection, savings and investment and retirement space, developing playbooks along with monitoring of key performance targets in alignment with overall priorities for FWD group.

Proposition Innovation

• Proposition development: lead new initiatives to identify and drive proposition development based on customer needs and insights, segmentation and economic environment to help Bus achieve their Business plans
• Develop external network with consultants, reinsurers and research houses to identify key and upcoming trends across the consumer segments, HNW, Middle class Affluent and mass
• Provide and analyse reports to monitor the success of propositions launched and make recommendations to management following the identification of trends.
• Support initiatives to increase awareness of unmet insurance needs of customers, i.e. customers who prefer online insurance purchase, and devise strategies and solutions in responding to their unmet needs. This includes increasing insurance purchases as well as cross-selling and upselling opportunities
• Provide reporting, plans, presentations as required to support adhoc projects
• Work with external third parties to identify and source potential value added services to support customer led propositions
• Work with internal stakeholders to drive AI solutions to improve e2e propositions for local markets
• Develop and execute on behavioural science use cases to improve customer engagement, usage understanding and purchase of insurance products

QUALIFICATIONS / EXPERIENCE

• Degree holder e.g. MBA, CFA or actuarial qualification (graduates in business, strategy or management would be an advantage).
• Over 10 years of experience in insurance and financial services specializing in consultancy, product development, customer engagement or customer journey management
• Working experience in a regional office with proven track record of leading and delivering regional initiatives to countries would be an advantage.
• Experience of working with a highly entrepreneurial and rapidly growing start-up/ e-commerce businesses
• Consultancy experience in financial services would be an advantage
• Working experience in a multi-cultural environment would be an advantage

KNOWLEDGE & TECHNICAL SKILLS

• Strong understanding of customer
• Strong commercial orientation and analytical skills
• Strong communications skills
• Highly Resourceful
• Excellent problem-solving skill, analytical and strategic mindset
• Strong organizational skills and ability to balance multiple priorities and conflicting deadlines
• Strong influencing & change management skills
• Willingness to travel to Countries for periods of time and work with Country level working staff