8 months ago
About the role
Consumers purchase insurance products to financially protect themselves, their family and their lifestyle in the unfortunate event of accident, sickness, a serious illness or death. And being a customer centric organisation, our Product Team’s primary responsibility is to ensure the range of products we supply meets this very objective.
Secondary to this, the team focus on developing new or enhancing existing products, which are not only important to our consumers but set our products apart from our competitors.
Reporting into the Manager, Protection Product - you’ll join us as a Product Manager to contribute to the delivery of a profitable protection business growth strategy for the intermediary distribution channel. You’ll work collaboratively with our sales, claims, underwriting, pricing, marketing and customer experience teams to ensure that activities are aligned with the execution of the strategy for your responsible product area, to contribute to the delivery of the protection P&L. You’ll also ensure your activities support the overarching Life strategy.
We have a broad product suite, so first and foremost you’ll have expert knowledge in a range of protection products targeted at the intermediary distribution channel. Having some experience of managing a protection product P&L, you’ll have a good knowledge of financial reporting metrics and the key underlying drivers. You’ll have a strong understanding of sales, underwriting, claims, pricing and marketing and be able to demonstrate how you influence these areas to meet and exceed financial targets.
You’re commercial, inquisitive, forward thinking and confident in your own ability. You firmly believe in collaborating, building relationships and sharing knowledge is a true representation of great team work. You strive for success and are determined to be best in class. You’re personable, passionate and enjoy being part of a high profile team; you therefore understand that your colleagues will have different agendas and priorities, so you are adaptable, influential, able to see things from others perspective and work with them to achieve a common goal.
You must have;
* Technical Product knowledge
* Hands on experience – at the sharp end
* Happy working with figures
* Works well in a team
* Wants to have responsibility
* Bright - has ideas
* Commercial approach – looking for recognition from bottom line results
You will need to:
* To review competitor rating
* To review product and competitor features
* To review the quality and “shape” of in-coming business
* To review the sales process for the product and make recommendations for improvement
* To review product performance for the product in detail and identify areas for remedial action / or where we can be more competitive.
* To liaise with other areas of LV (e.g. sales) to maximise their product knowledge
* To identify commercial opportunities for product development and for areas where growth can occur, prepare the business case for change and support through to implementation.
* To be the company’s expert on the product concerned
* To review product performance, completing control cycles, to ensure good customer outcomes are being delivered
* Answer product related queries
Rewards and benefits
This role is a Band C in the LV= Structure. To find out more about our bands, click to view our FAQ page here. We want you to love what you do that’s why we’ve put together a benefits package that recognises and rewards a job well done.
We’ll give you:
* 30 days' holiday, with the option to buy up to 2 additional days
* a competitive pension for which LV= will pay twice the amount you pay, up to 14% (please click here to read more about it)
* an annual bonus scheme based on company and personal performance
* Single cover private medical insurance which you can upgrade to family cover
* a flexible benefits package (e.g. discounted retail vouchers, great value dental insurance, childcare vouchers)
* a generous 25% discount off our general insurance products including home, pet and travel. Up to 50% discount on your car insurance and up to 20% discount from our life products.
To find out more about our benefits and rewards, please click here.
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