The Product Manager will have the primary focus of maximising the achievement of the insurance business APE/GWP and profit targets through the implementation of the overall strategy and plans.

• Support the formulation of the product development strategy by sourcing and analysing customer insight /segmentation, market intelligence and competitor information so that insurance product development opportunities can be identified.
• Support the identification of, design, planning and delivery of insurance product developments which will:
• Maximise APE/GWP, profit or both
• Meet customer needs and treat them fairly.
• Conform to relevant regulation, legislation and codes of practice
• Align to the business strategy.
• Provide analysis to support the production of the business case for change. Contribute to the delivery of the product to market and ensure that all developments are carried out in line with the Product Lifecycle Model so that the needs of the customers are understood and met and in line with L&G’s Customer Experience and Treating Customers Fairly Policy.
• Regularly monitor the business volumes of all sales channels, product lines and the market. Gather, analyse and report on management information such as KPIs, complaints. Maintain in-depth knowledge of competitor activity to include major players and potential new entrants. Highlight trends and make predictions, which can then be fed into the insurance strategy and can be used where necessary to highlight possible issues or opportunities.
• Be responsible for updating external sources of information regarding Legal & General insurance products so that our products are always correctly and where possible positively represented.
• Review correspondence copy, contact centre scripts, sales collateral processes and procedures to ensure adequate customer services are operationally in place, there is appropriate customer understanding & complaint selling and make a recommendation where action is necessary to address any relevant feedback.
• Provide initial technical approval for new marketing literature and web content so that quality submissions are made to the approval process.
• Support distribution in the promotion of insurance products with technical and market information which can be used highlight the benefits of Legal & General’s products over our competitors and maximise opportunities for sales.
• Provide product technical support and market insight to the business. This will include acting as a consultant on projects, participating in workshops and being a member of project teams as required so that technical expertise is assured.
• Responsible for developing and maintaining personal technical and regulatory knowledge to ensure there is capability to support the manufacturing and maintenance of products.
• Ensure product risks are identified, recorded and raised on the primary risk management system. All risks should be monitored and actioned.

Experience

• Experience of working in a Financial Services organisation

Regulatory awareness

• Understanding of regulatory / legal requirements applicable to insurance products

Product knowledge

• Knowledge of insurance products (beneficial)

Qualifications

• Relevant marketing qualification (CIM/IDM) is beneficial

Whatever your role, we reward ability, performance and attitude with a package that looks after all the things that are important to you. Our employees have a wide range of benefits including a generous pension scheme, life assurance, 25 days’ holiday, private medical insurance, discretionary performance related bonuses, paid overtime, a variety of share schemes, discounts at both a huge range of high street stores and our own great products, your hard work will be rewarded when you join us.

For more information, please contact Rachel Chima, Resourcing Consultant - rachel.chima@landg.com.