General Insurance Product and Market Manager
This is a strategic role within the Company and forms part of the Senior Management Team within the General Insurance Division. Our General Insurance products covers, Motor, Home & Travel.
As GI Product & Market Manager you are responsible for product and proposition development within the division including discounting, bundling & cross selling initiatives. Working closely with our partners to develop pricing strategies to maximise sales and retention opportunities. You are a key player in the development and implementation of the GI Sales strategy providing intelligence on the general insurance market through market benchmarking, analysis and reporting.
Working closely with the Head of General & Health Insurance in establishing new market & partner opportunities. Working alongside key stakeholders across the Company to promote the products and service offered by the division to drive scheme growth.
Accountabilities of the Role
- To comply with risk control and regulatory requirements that is relevant to this role, ensuring all PI & Health New Business & Renewals processes and documentation adhere to CPC Guideline at all times and assist in the Divisions achievement of full regulatory and legislative compliance.
- To maintain commercial awareness of the General Insurance Market and ensure that Cornmarket is delivering best in class products, processes and service for its customers.
- To deliver as part of the Senior Management team, the profit goals for the division through a well-defined Sales, Product & Proposition strategy that delivers in line with annual portfolio targets and profitability targets. To ensure smooth and compliant running of the Division from policy execution and on-going administration.
- Successfully develop our markets across various public sector unions and employers to ensure delivery of our Customer First approach. Enhance and maintain key union and employer relationships. Develop new relationships and opportunities within public sector unions and affinity groups to secure further endorsements of Cornmarket’s personal insurance products and services.
- Working closely with key internal and external stakeholders to enhance our current product offering and identify new competitive, innovative products for our clients.
- Develop a strong corporate selling capability, through effective scheme tender reviews from expression of interest to final decision stage. Manage and take ownership of our product reviews, ensuring they are continuously fit for purpose, meeting evolving needs of our clients & customers
- Working closely with the Head of General & Health Insurance to drive the strategy forward for the division. Providing relevant MI on market developments, market trends, pricing, product mix, turnover etc.
- Interact with external partners and key internal stakeholders on all pricing and product related matters. Completing regular benchmarking of competitor pricing and products. In collaboration with the relevant partners present pricing recommendations to key internal stakeholders.
- To become fully aware and knowledgeable on our own product range, from policy wording, benefits, claims process, etc. To also become very comfortable with those of our business partners in order to use this knowledge to constantly challenge and improve our proposition.
- Collaborate with the Digital & Analytics manager to maximise the online sales channel, through appropriate pricing & messaging.
- Responsible for ensuring the GI business is briefed and fully up-to-date on product and process changes, contributing to the training documentation development.
- Working closely with the GI Business Service Manager to provide recommendations on:
- Recanvas / Calls / Quote / Sale and conversion rates across all products on a monthly basis.
- Provide analysis on current book of business to identify trends and present findings and solutions to the GI management team.
- Using your market & product knowledge to assist the Team while where required in relation to documentation and product benefits.
- Working closely with the GI Management team by gathering information on the department in the preparation of annual department budgets though analysis and forecasting.
Skills & Knowledge Required
- Knowledge of risk control with a strong understanding of insurance legislative and competitive environments
- Strong commercial awareness and understanding of the public sector market and General Insurance Industry. Excellent and up to date technical, systems, product and market knowledge.
- Proven experience in a Management role, circa 5 years’ Sales Management, Project Management, Business Management, or underwriting experience is desirable.
- Ability to think strategically and problem solve
- Ability to interact with all levels of seniority, both internal & external. Ability to communicate the commercial & business consequences in a clear manner.
- Strong analysis, reporting and numeracy skills
- Strong problem solving, influencing and project management skills
- Excellent communicator both verbal and written
- Commercially focussed with strong customer service experience.
- Commercial awareness of the cost/benefits of product/process changes. Comprehensive experience & knowledge of the General Insurance market and market trends.
- We work in a highly controlled environment and an in depth understanding of regulatory responsibilities is a must, with previous experience in a similar role a distinct advantage.
Behavioural Competencies Required
- Compliant & Quality-focused approach.
- Ambitious, results orientated and desire to exceed target.
- Excellent Interpersonal & Communication Skills. Excellent Business relationships skills
- Strong Analytical Thinking, with ability to problem solve.
- Ability to build and develop relationships.
- Ability to Influence at a senior level.
- Ability to make decisions quickly and decisively that will impact the direction of the department.
- Ability to see opportunities when they arise.
This role is a ‘controlled function’ as defined by the Central Bank Reform Act 2010 Regulations 2011. Any appointment will be conditional on the company being satisfied that the appointee meets the requirements as set out in the Fitness and Probity standards issued by the Central Bank. This requires the company to complete prescribed due diligence to assess the appointee’s fitness and probity.