China Life Insurance Company Singapore (CLIS) aims to cultivate a strong sense of belonging among all employees through a people-oriented corporate culture.

Position Objective:

• Lead the product development team, overseeing product research and development, product competitiveness analysis, regulatory reporting, product communication with distribution channels, planning of PDMC meetings, and facilitating PLWG product launch meetings.

Job Description:

• Develop the product strategy and on-going implementation to support product management, product innovation and business strategy of the company.
• Responsible for reviewing new / existing product proposition of the company, based on balanced needs among the company, distributors and customers.
• To drive the product conceptualization process, including but not limited to feasibility assessment, collaboration with distribution channels to enhance the preliminary product concept and to perform market research to facilitate pricing team to provide indicative pricing of the product.
• Conduct meeting with Product Development and Marketing Committee (PDMC) to share and seek approval for the product strategy and product development ideas.
• Conduct market intelligence on competitors’ new products launches as well as product focus or initiatives, to evaluate emerging opportunities and perform competitive benchmarking to support the development of competitive products.
• Collaborate with sales channels by conducting regular engagements by sharing product proposition and unique selling points of existing products, new product ideas and to provide support in product promotion and product bundling ideas.
• Liaise with reinsurers for quotations, negotiation and review of reinsurance treaty.
• To manage the end-to-end product development process for new product, such as product delivery, communication with stakeholders to help the team prioritize, negotiate and remove obstacles to achieve the launch of new product.
• Collaborate with product launch workgroup (PLWG) to support product launch and development of the company.
• Coordinate the product launch activities with the key stakeholders within product launch workgroup to ensure that products are launched on time.
• To prepare product documents which include product specification, product summary, policy provisions, product factsheet or any special document that can assist in the sales process.
• Assist in the setup and submission of any product related regulatory (LIA/MAS/CompareFirst) request or changes etc.
• Provide support for new products setup on sales illustration system and administration system.
• To conduct and take the lead throughout Annual Bonus Update exercise.
• Follow up with Day 2 requirements of the new product launched.
• Establish and manage post-launch monitoring process to ensure requirements are delivered on schedule. Assist in the annual review exercise of key selling products.
• To participate in projects assigned by Chief Actuary.

Job Requirements:

• Good degree in Actuarial Science or closely related subjects, such as Data Analysis and Mathematics
• Product development experience is required. Pricing and product marketing experience is an advantage.
• Strong analytical skills on life insurance products framework
• Strong communication and project management skills
• Experience and knowledge in life insurance products and the Singapore life insurance market preferred
• Proficient in MS Excel, MS Word and MS Powerpoint
• Demonstrates creativity, strong analytical skills, attention to detail, resourcefulness, and team player
• Fluent in both spoken and written English and Chinese