Product Strategy Lead

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Reporting to the Product Management Head, the Product Strategy Lead is responsible for managing the commercial and strategic vertical of PLUK’s Product Management unit.

Roles and Responsibilities:

A. Product Roadmap, Strategy, and Governance

*Support the Product Management Head in developing the product strategy and roadmap by providing sound, data-driven recommendations based on competitive, customer, distribution, and organizational insights across the portfolio.

*Oversee the Product Steering Committee (PSC) meetings together with the Product Management Head including finalization of agenda, presentation, and minutes. Present portfolio view of projects and commercial updates and timelines of assigned product projects.

*Develop and oversee implementation of RACI document or other governance documents for activities related to product design and commercial launch.

*Assist the Product Management Head in preparation of business performance reports specifically the insights and recommendations. Product Strategy Lead

*Prepare Product Inventory for annual submission to the Insurance Commission.

B. Product Development

*Create product design and proposition. *Present product design and proposition for PSC’s approval.

*Spearhead product kick-off with internal stakeholders focusing on design, proposition, resources and timelines including but not limited to marketing, training, and sales.

*Secure PSC’s approval of product’s name, design, metrics, and launch date in collaboration with relevant stakeholders ex. pricing, marketing, and product implementation.

*Create sales illustration and other commercial requirements for product development.

*Oversee development of marketing, training, and sales materials including review and sign off.

*Facilitate go or no-go checkpoint and manage launch checklist to ensure readiness of commercial activities prior to launch.

*Perform lessons learned sessions for product strategy after launch including Agency feedbacks.

*Monitor timely and accurate release of launch announcement.

*Perform lessons learned sessions for product strategy after launch.

*Gather agency/stakeholder feedbacks after launch.

*Manage timeline of the above activities including marketing, training, and sales timelines.

C. Product Intelligence

*Conduct an annual product review to gauge competitiveness of the product portfolio.

*Provide timely and accurate competitor/market updates to the PSC. Product Management Head

*Release competitor advisory to sales and other relevant internal stakeholders as needed.

*Manage the internal product log file as one source of truth for products offered.

D. Proposition

*Conduct distribution or client FGDs to gauge product project’s marketability. *Perform client or distribution product presentations as support to sales. *Support propositions training to strengthen sales knowledge on how to sell products.

Qualifications

*At least 10 years of experience in life insurance product management or equivalent

*At least 5 years of experience as a people manager

*Graduate of Mathematics/Actuarial Science, Finance, Business or equivalent in a reputable university

*Knowledgeable in life insurance products and regulations

*With experience in managing projects end to end and collaborating with cross-functional units within a life insurance company

*Strong skills in product proposition, business narratives, competitor research *Strong presentation skills and can manage clients and distributors

*FLMI designation preferred

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.