Associate, Product - Savings & Investments

Singlife is a leading homegrown financial services company, offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife provides consumers control over their financial wellbeing at every stage of their lives.

In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with financial adviser channels and bancassurance, Singlife offers investment and advisory solutions through its GROW with Singlife platform. It also offers the Singlife Account, a mobile-first insurance savings plan.

Singlife is the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs and Public Officers Group Insurance Scheme. Singlife is also an official signatory of the United Nations Principles for Sustainable Insurance and the United Nations-supported Principles for Responsible Investment, affirming its commitment to finding a better way to sustainability.

The merger of Aviva Singapore and Singlife was announced in September 2020 and created one of the largest homegrown financial services companies in Singapore in a deal valued at S$3.2 billion. It was the largest insurance deal in Singapore at the time. Singlife was subsequently acquired by Sumitomo Life in March 2024, one of Japan's leading life insurers, which valued Singlife at S$4.6 billion, making the transaction one of the largest insurance deals in Southeast Asia.

Responsibilities

• Support the Product Manager in driving product improvements across the full product lifecycle through strategies including new product propositions, enhancements, and rationalisation, as well as initiatives aimed at improving persistency rates, growing sales and revenue, and achieving cost efficiencies.
• Brainstorm and generate innovative product ideas through customer research, market analysis, distributor and customer feedback and complaints, portfolio insights and emerging industry trends.
• Assist in evaluating and defining product features and benefits by assessing customer needs, market information, competitive positioning, pricing viability, distributor preferences, implementation feasibility, and commercial outcomes to ensure propositions are relevant and differentiated.
• Prepare product specifications, business cases, governance submissions, regulatory filings, product summaries, product terms and conditions and other product-related documentation, ensuring consistency across all materials.
• Support end-to-end product pre-launch and post-launch activities, including the development of marketing collaterals and training materials; support product launch events and training; and manage operational and regulatory requirements including user story review, sign-offs and Day-2 issue closure.
• Assist in the review and assessment of existing products, including preparing supporting analysis and documentation.
• Ensure compliance with all applicable regulatory requirements and internal business standards related to product management.
• Coordinate Fair Dealing product due diligence, including the assessment of suitable customer segments, appropriate distribution channels, and training requirements.
• Conduct regular competitor and market benchmarking to identify gaps, opportunities, and threats, and translate findings into actionable recommendations for product strategy and proposition design.
• Track and analyse key product and portfolio metrics, including sales performance, claims experience, lapse and persistency trends, customer feedback, and profitability indicators to support portfolio actions and generate insights for product strategy.
• Serve as a product subject matter expert (SME) by responding promptly and clearly to product-related queries across internal functions and distribution channels, and support the resolution and recovery of product-related issues.
• Maintain accurate, current, and well-controlled product records, approval evidence, checklists, masterlists, and process documentation.
• Liaise with fund houses and other relevant stakeholders on fund-related matters, including fund updates, corporate actions, changes to fund features or documentation, and other matters impacting the funds offered under the company's products, ensuring fund administration activities are completed within the stipulated timelines.
• Assist in fund services activities which include the production and consolidation of fund factsheets, fund summary updates, product highlights sheet and semi-annual and annual fund reports.
• Monitor and review the existing fund range, including fund performance and other relevant fund developments, and support the assessment of potential actions or changes to ensure the fund offering remains relevant to the product proposition and customers.
• Support the onboarding, replacement, closure or other changes to funds, including assessment of the impact on existing products and customers, preparation of relevant documentation and coordination with internal and external stakeholders for implementation.
  
  

Requirements

• 3+ years prior experience in roles involving proposition, product development and/or funds management in the life insurance or reinsurance is preferred.
• Proficient in the various types of insurance products and investment-linked funds, including customers needs that it serves, distributors preference and cost/benefit to the company.
• Able to comprehend and resolve system, operational and implementation issues effectively.
• Academic: Degree in Actuarial /Mathematics /Business/Finance/Accountancy/ Economics