Product Manager, Employee Benefits
Transamerica
full-time
Posted on:
Location Type: Office
Location: Denver • Colorado, Iowa, Maryland • 🇺🇸 United States
Visit company websiteSalary
💰 $80,000 - $95,000 per year
Job Level
JuniorMid-Level
About the role
- Drives long-term strategy by researching and designing life and health insurance products for individual and group markets, from inception to launch
- Manages existing product portfolios to ensure profitable sales
- Analyze market trends and competitive landscape to discern product opportunities and translate market conditions into valid value positions
- Research potential market opportunities; build the business case for product innovations by gathering distribution and consumer feedback, reviewing industry sales trends, and understanding demographic shifts/consumer preferences
- Make recommendations to the product leader and team on product features, competitiveness, profitability, sales goals and launch date
- Conduct feasibility studies, research and development, and participate in labs to evaluate ideas
- Collaborate with sales and margin analytics team and other business groups to conduct hypothesis testing and opportunity sizing; develop capabilities based assessments (CBA) and execution approach
- Partner with distributors, Marketing, Finance, IT and other key stakeholders to recommend product features, competitiveness, profitability, sales goals and launch dates
- Negotiate needs and bring consensus/closure to issues, and facilitate decisions on new business portfolio issues
- Develop product specification documents, product guides and other product documentation
- Serve as a subject matter expert to functional areas on product information required during the product development process
Requirements
- Bachelor’s degree in a business related field or equivalent experience
- Two years of product development experience in the life or health insurance industry
- Understanding of insurance product features and riders
- Understanding of insurance sales and marketing techniques
- Analytical skills and attention to detail to perform market analysis, customer research, opportunity sizing, profitability assessments, and risk/legal/compliance assessments
- Communication and interpersonal skills to educate audience and advocate recommendations with team members and stakeholders at all levels of the organization
- Decision making skills to create scope and content for consumer market research, and use insights to develop product design and features
- Strategic thinker and facilitation skills
- Advanced proficiency in MS Office (Excel, PowerPoint, Word)
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
product developmentmarket analysiscustomer researchopportunity sizingprofitability assessmentsrisk assessmentcompliance assessmentinsurance product featuresinsurance sales techniquesinsurance marketing techniques
Soft skills
analytical skillsattention to detailcommunication skillsinterpersonal skillsdecision making skillsstrategic thinkingfacilitation skills