Strategic Inovation and Product Development Group Manager

Innovation and Business Development Group Manager

We are currently seeking an “Innovation and Business Development Group Manager” for one of the leading multinational insurance companies in the market

The Innovation and Business Development Group Manager will spearhead the identification, development, and execution of innovative strategies, new product development and business opportunities to drive growth and competitive advantage for the company.

This role requires a forward-thinking leader with a strong grasp of emerging technologies, and the ability to bridge strategy and execution. The role will involve leading cross-functional project teams, fostering strategic partnerships, and driving initiatives that enhance customer experience, operational efficiency, and market presence.

Key Responsibilities:

• Develop and lead the company's innovation strategy, ensuring alignment with overall business goals and market trends.
• Identify emerging trends, technologies, and business models in the insurance sector, leveraging them to create new revenue streams and operational efficiencies.
• Establish and manage an innovation framework to collect, evaluate, and prioritize ideas from internal and external sources.
• Conduct feasibility studies, cost-benefit analyses, and market assessments to evaluate potential initiatives.
• Drive the end-to-end implementation of innovative projects, ensuring timely delivery, budget adherence, and achievement of desired outcomes.
• Collaborate with IT, underwriting, claims, and sales teams to integrate innovative solutions seamlessly into existing workflows.
• Partner with technology teams to identify, pilot, and implement emerging technologies such as AI, blockchain, IoT, and big data analytics in insurance operations.
• Ensure technology solutions meet regulatory requirements and enhance customer experience.
• Analyze market dynamics, competitive landscape, and customer needs to identify new business opportunities.
• Develop growth strategies for entering new markets, customer segments, or product lines.
• Lead the creation and launch of innovative insurance products and services that address unmet customer needs and market gaps.
• Collaborate with actuarial and product teams to ensure pricing, underwriting, and risk management align with business objectives.
• Build and maintain strategic partnerships with insurtech companies, technology providers, and other industry players to accelerate innovation and expand market reach.
• Negotiate and structure partnerships, joint ventures, and collaborations to deliver mutual benefits.
• Drive initiatives that improve customer engagement, retention, and satisfaction through innovative service offerings and digital transformation.
• Utilize customer feedback and analytics to refine products and services.
• Build, manage, and mentor a high-performing innovation, business development and research team.Foster a culture of creativity, collaboration, and accountability within the team.
• Work closely with marketing, sales, IT, underwriting, claims, and operations teams to ensure alignment and effective execution of innovation initiatives.
• Present business cases, innovation roadmaps, and project updates to executive leadership and the board of directors.
• Engage with external stakeholders, including customers, partners, and regulators, to promote innovation initiatives.

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Qualifications:

• A Bachelor’s degree in Business Administration, Economics, Engineering, or a related field is required, with an MBA or master’s degree strongly preferred.
• 10+ years of experience in the insurance and finance sectors or in business consulting and startup companies, with a strong motivation to excel in the insurance industry. A minimum of 3 years managing teams or project groups focused on innovation, product development, and business growth is essential.
• A proven track record of driving innovation, successfully launching products, and establishing strategic partnerships.
• Strong familiarity with emerging technologies and their applications in product and process development.
• Demonstrated ability to identify long-term opportunities and strategically align them with organizational goals.
• Very good leadership skills, with the ability to inspire and guide teams to achieve ambitious goals.
• Advanced problem-solving and decision-making skills, emphasizing the use of data-driven insights to inform strategies.
• Highly organized, with the ability to prioritize and manage multiple responsibilities in a dynamic and fast-paced environment.
• Excellent written and verbal communication skills, including the capability to effectively present to senior stakeholders.
• A proven ability to collaborate with cross-functional teams and foster a culture of innovation and continuous improvement.
• A proactive, adaptable and hands-on mindset, well-suited for navigating complex and evolving business landscapes.
• Strong project management expertise and exceptional organizational skills.
• Fluency in English, with excellent written and verbal communication abilities.

Note: This job description is intended to provide a general overview of the position and its responsibilities. It is not an exhaustive list, and other duties may be assigned as needed to meet the company's objectives.Top of Form