Product and Proposition Development Manager

at  Benefact Group

Working hours: 35 hours per week, Monday to Friday
Duration: Permanent
Location: Gloucester
Job ref: 202606

KNOWLEDGE, SKILLS AND EXPERIENCE

• Min 5 years general insurance experience
• Qualified to CII Cert level minimum
• Marketing qualification desirable but not essential
• Underwriting technical knowledge or good knowledge of personal lines/commercial lines insurance products and schemes gained through relevant role
• Previous product development experience and/or evidence of successful design/implementation of products/propositions
• Understanding of the insurance market and fully up to date with regulatory requirements, specifically in relation to Product Oversight & Governance and
• Consumer Duty
• Experience of identifying and championing customer needs and outcomes
• Ability to maintain resilience when under pressure
• Ability to generate new ideas and challenge the status quo
• Strong collaboration skills across different business areas and excellent stakeholder management
• Proven track record of influencing of stakeholders

ABOUT US

Benefact Group is a unique international financial services Group made up of over 30 businesses. We are owned by a charity and are currently the UK’s 3rd largest corporate donor, having given away £200 million since 2016. We have ambitious plans to become the UK’s number one corporate donor, with strategic objectives in place to double the Group’s size.
We believe it’s essential to attract, empower, grow and reward talented people, offering fantastic opportunities for career and personal development. Our giving ethos, 135-year history and the diversity of what we do, has enabled us to build a culture of kindness, great ambition, and of passionate people driven to do better and be better.
At Benefact Group, we are committed to creating an inclusive culture and building an environment where each and every one of us feels valued and respected. We are a community made up of people with a range of different backgrounds, abilities, perspectives, beliefs and interests and we value the strength this brings to us as a Group. We welcome applications from everyone.
If you need any additional support during the recruitment process, then please let us know.

ABOUT THE ROLE

Ecclesiastical Insurance, who are proudly part of Benefact Group are looking for a Product and Proposition Development Manager to join our Gloucester office.
As Product and Proposition Development Manager you will enable the business to develop and manage a range of insurance products and propositions, ensuring they meet our target market customer needs, commercial objectives and regulatory responsibilities.
Joining our rapidly expanding and innovative Group presents a fantastic opportunity to develop your career and become an integral part of an inclusive, purpose-led organisation.

KEY RESPONSIBILITIES

• Develop high level understanding of customer needs in our chosen markets. Be the ‘voice of the customer’ within our organisation and ensure our products and proposition remain relevant for our target markets.
• Keep up-to-date with market and competitor changes. Ensure our products and propositions are reviewed and benchmarked e.g. carry out competitor wording comparisons.
• Ensure our products and services meet regulatory and legal requirements. Continually review and identify opportunities for future improvements to deliver good customer outcomes and continue to deliver fair value.
• Keep abreast of emerging trends, risks, opportunities and threats and make recommendations for developments including but not limited to product, risk, claims and distribution.
• Lead the product review process and continue to develop and update the Product Oversight and Governance Policy.
• Work with internal stakeholders, brokers and external suppliers to develop and maintain existing products and propositions - identifying, designing and launching new propositions.
• Ensure products deliver a great customer experience, working with the Underwriting and Claims Teams as well as our third-party insurers, brokers and providers to identify and make improvements as necessary.
• Optimise efficiencies within the product suite. e.g. make recommendations for product rationalisation or simplification.
• Liaise with external third parties involved in the delivery of products or propositions.
• Support the Customer Segment Director with the identification of appropriate sources of market, customer and sector insight. Assist in the management of customer and broker listening, communications and training programmes.
• Create and manage research and marcomms briefs (designing key product and proposition messages), working closely with our Marketing team and Insights team.
• Develop and maintain Customer Communications Standards and Guidance – ensuring all new communications meet the guidelines in terms of style, format and testing. Provide guidance across the business on Customer Communications and hold regular meetings with Communications Ambassadors to share best practice.