Product Development Executive

Key Responsibilities

• Participate in the end-to-end product development cycle for group and individual health insurance products, including new product development and enhancement of existing products.

• Support the development and review of medical reimbursement, hospitalisation, surgical and other health insurance benefits and product features.

• Perform pricing and profitability analysis, including assumption setting, financial modelling and assessment of product sustainability.

• Conduct market and competitor analysis to identify product trends, customer needs and opportunities for product enhancement.

• Prepare and coordinate product filings and regulatory submissions, ensuring compliance with relevant regulatory requirements and internal guidelines.

• Develop and review product specifications, benefit schedules, policy documentation, benefit illustrations and other product materials.

• Work closely with Actuarial, Underwriting, Claims, Operations, Compliance, Distribution and IT teams on product implementation and system setup.

• Conduct product reviews and experience studies, including claims and utilisation analysis, to monitor product performance and recommend improvements.

• Support enhancements to existing health insurance products based on market developments, claims experience and business requirements.

• Prepare management reports, product analysis and recommendations to support business and strategic decision-making.

Requirements

• Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Business, Finance, Economics or a related discipline.

• 2-5 years of relevant experience in product development, product management or actuarial/product roles within the insurance industry.

• Prior experience in health insurance, medical reimbursement, hospitalisation and surgical, group medical or related healthcare insurance products is strongly preferred.

• Candidates with actuarial experience and good progress in professional actuarial examinations will have an advantage.

• Good understanding of insurance product development, pricing, benefits, policy provisions and regulatory requirements.

• Strong analytical and problem-solving skills with high attention to detail.

• Self-motivated, proactive and able to work independently as well as within a team.

• Good communication and stakeholder management skills.

• Proficient in MS Office applications, particularly Excel knowledge of actuarial modelling tools will be an added advantage.

Kindly note that only shortlisted candidates will be contacted.