Head Of Product Development

Company Name: Binding Partnerships
Location: SaudiArabia

Head of Product Development - Motor Insurance

 

Our client is a leading Insurance company in the region which is Headquartered in Riyadh is looking to build its service lines and is looking to attract high calibre Product Development talent to strengthen their Motor Insurance business. 

Job Purpose:

To develop products and Services value propositions by identifying potential products, conducting market research, generating product requirements, determining specifications, production timetables and time-integrated plans for product introduction and developing marketing strategies. To determines customers' needs and desires by specifying the research needed to obtain market information and ensure the company maintains competitiveness in the Insurance Market.

Duties and Responsibilities:

• Review and quality assure all services and work-products delivered by the department/unit in accordance with established policies and procedures.
• Devise and improve operational policies and procedures in line with corporate and strategic guidance.
• Deploy allocated resources for optimal performance and provide feedback to the direct line manager on resource requirements.
• Monitor staff achievements, perform periodic performance appraisals and provide guidance, coaching or training to direct reports in performing their delegated duties.
• Ensure the performance of duties and conduct of staff is in accordance with the departmental/unit business processes and operating procedures.
• Review regular performance reports prepared by direct reports and identify issues for resolution or escalation.
• Continuously monitor performance against targets and objectives, identify areas of improvement to increase efficiency and effectiveness of the team and take action.
• Optimize the use of available resources across the unit in carrying out assigned duties, to ensure work meets agreed standards for timeliness and quality.
• Drive the development of value propositions, the product mix and the channel mix for each of the target customer segments by strategically collaborating with SBUs thereby resulting in increased penetration, acquisition, growth, and retention.
• Recommends the nature and scope of present and future Motor product by reviewing product specifications and requirements; appraising new product ideas and/or product or packaging changes.
• Assesses market competition by conducting studies, researches and analysis and compare the company's product to competitors' products to ensure the company maintains competitiveness in the Market.
• Provides information to Motor management by preparing short-term and long-term product sales forecasts and special reports and analyses; answering questions and requests to enhance product development efficiency.
• Introduce new products to market by analyzing proposed product requirements and product development programs; preparing return-on-investment analyses to enhance innovation and productivity.
• Work in close collaboration with the SBUs and the Segments to introduce and enhance products and services from pricing, features and benefits offered to each customer segment.
• Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; participating in professional societies to get the best practices in the market and establish it in the company.
• Participate in providing advice on market intelligence and consumer behavioural reports and translate their outcome into product packaging.
• Contribute to the preparation of the Department budget, and monitor the financial activity to reflect on planned versus actual budget levels. Ensure resource allocations are in alignment with set budget guidelines.
• Lead customer-focused innovation – frequently meeting with stakeholders to understand how the Company can enhance the value of existing products and also identify the demand for new ones

 

Job Specifications

• Bachelor's - Business, Marketing or another similar field

Experience

• 8 - 10 years of Product Development experience
• 5 - years of Managerial or Supervisory Roles

• Seniority level

  Mid-Senior level

• Employment type

  Full-time

• Job function

  Product ManagementProject ManagementDistribution

• Industries

  InsuranceAutomotiveFinancial Services