Retail Proposition Specialist (Part-Time, Job-Share, Full-Time)

at  Zurich insurance

THE OPPORTUNITY:

Are you looking for an opportunity to work for a Global Insurer to help in delivering customer centric propositions through collaboration and proactive stakeholder engagement?
Since the introduction of the Consumer Duty on 31st July 2023, there has been a considerable shift in the FCA’s expectations of firms. Whilst Zurich has always put the customer at the heart of what they do, the Duty has set a higher expectation for the standard of care we provide to our customers, introducing a more outcomes-focused approach to customer protection.
As a Retail Proposition Specialist, you will be required to support us in the development, delivery, and on-going management of Retail Propositions in line with our Consumer Duty responsibilities. This means that you will have responsibility for critically assessing how our products and propositions perform in line with this duty, as well as leading on coordinating, analysing, and reporting on our Annual Product Reviews/Fair Value Assessments.
The proposition team oversight includes Personal Lines, Zurich Private Clients, Navigators and General, Small Medium Enterprise, and Mid-Market. You’ll manage and deliver Retail proposition development activities; utilising and helping to improve proposition development tools, processes, metrics, culture and mind-sets. You will also drive and develop propositional benefits and support communication within the business to drive awareness in customer facing teams.
Many of our employees work flexibly in a variety of different ways, including part-time, flexible hours, job share, an element of working from home or compressed hours. This is because we want the best people for our roles, and we recognise that sometimes those people aren’t available full-time. Please talk to us at interview about the flexibility you may need.

WHAT ARE WE LOOKING FOR?

The role will require you to lead our annual product review process which means you will be working alongside various representatives from our Retail Leadership Team, Compliance, Relationship Leads and Underwriting to critically assess our retail products in line with the requirements of the FCA in terms of Fair Value.
Therefore, we’re looking for someone who has a track record for building and maintaining relationships with key stakeholders, allowing you to contribute to conversations around fair value and provide the appropriate challenge when necessary.
There will be a requirement to write reports which will support our Head of Retail in evidencing our compliance with the consumer duty. Therefore it is essential that you can demonstrate a high proficiency in verbal and written communication skills.
Based on your analysis, you will be making recommendations to various members of the Retail Leadership Team on proposition improvements, Consumer Duty compliance, and any other recommendations. Therefore you will be experienced when it comes to planning, prioritising, and leading meetings, as well as well as taking ownership of action timelines and delivery dates.
The role will have some technical aspects to it, so knowledge of our retail insurance operations including underwriting, distribution, pricing and claims would be ideal. It would also be good if you have an understanding of the financial dynamics of the insurance business as this will help you to critically assess whether our products continue to offer fair value.
As an inclusive employer we want to ensure that all candidates feel comfortable and are able to perform at their best during the interview. You’ll have the opportunity to let us know of any reasonable adjustment or practical support needed when you apply.

WHO WE ARE:

At Zurich we aspire to be one of the most responsible and impactful businesses in the world and the best global insurer. Together we’re creating a brighter future for our customers, our people and our planet.
With over 55,000 employees in more than 170 countries, you’ll feel the support of being part of a strong and stable company who are a long-standing player in the insurance industry.
We’ve made a promise to each other and every employee; to focus on sustainable impact, to care about each other’s wellbeing, to use our diverse expertise to be curious and optimistic and to develop the skills needed for our future.
If you’re interested in working in a dynamic and challenging environment for a company that recognises and rewards your creativity, initiatives and contributions - then Zurich could be just the place for you. Be part of something great.

WHAT WILL YOU BE DOING?

An integral part of your role will be to co-ordinate with cross-functional teams to conduct annual product reviews across a number of product families within Retail. You will be required to conduct comprehensive fair value assessments by analysing product performance and customer outcomes. This will include assessing products against our own internal standards, but also conducting market analysis to identifying trends which may impact the outcome of our assessments. Therefore, it is important that you are able to readily spot opportunities to improve our products/services, but also support the business in developing propositions that are aligned to fair value.
Putting the customer at the heart of what we do is essential, so you’ll lead individuals from across retail in the assessment of our customer propositions to ensure they align with the principles of Consumer Duty regulations and Zurich Customer Experience standards. As part of this, you will be required to utilise existing data and MI to conduct regular reviews to assess the effectiveness of our current propositions and identify and mitigate any risks to ensure they deliver the right customer outcomes.
You will also support the business in the identification of new propositions, providing advice and support to key stakeholders aiding in the development of new and existing products.