Job Summary:
The Senior-level Product Strategy and Development Manager/Director (PSD) drives profitable growth through strategic product development, innovation, and market expansion. Responsible for end-to-end product strategies, the PSD creates business plans to achieve sales and ROI targets, managing key products throughout their lifecycle with P& L accountability. This role enhances strategic and operational capabilities, leads cross-functional teams, and serves as an internal SME. The PSD collaborates with Sales, Marketing, Underwriting & Actuarial, Finance, Operations, Technology, and the PMO to ensure product success and alignment with company and customer objectives.
Key Responsibilities:
Product Strategy & Innovation:
Develop and execute comprehensive product strategies aligned with company objectives.
Lead product innovation initiatives and enhancement programs.
Create and implement competitive positioning strategies.
Collaborate with the Actuarial team to develop and refine pricing strategies.
Design and maintain product roadmaps for future evolution.
Product Portfolio Management:
Oversee and optimize the performance of the entire product portfolio.
Monitor and drive product profitability metrics.
Design and execute market research initiatives to gather customer insights.
Manage the complete product lifecycle from conception to retirement.
Lead benefit design and enhancement initiatives.
Business Growth:
Drive revenue growth for core business products.
Develop and implement strategies to expand market share in existing segments.
Identify and pursue new market opportunities.
Enhance distribution channel effectiveness.
Develop and execute competitive response strategies.
Cross-functional Leadership:
Partner with the Actuarial department on pricing models and risk management.
Collaborate with the Sales team to develop effective go-to-market strategies.
Coordinate with Operations on product implementation.
Guide the Marketing team on product positioning and messaging.
Work with the Legal department to ensure regulatory compliance.
Required Qualifications:
10+ years of insurance industry experience
Minimum 5 years of product management leadership.
Bachelor's degree required; MBA/MHA preferred.
Comprehensive understanding of insurance markets and products.
Strong preference for experience in dental or health plans, insurance regulatory processes, and direct-to-consumer strategies.
Health insurance operations knowledge and project management experience preferred.
Technical Skills & Software Requirements:
Advanced proficiency in Microsoft Office Suite, particularly Excel and PowerPoint.
Preferred experience with analytical and business intelligence tools (Tableau, Power BI).
Familiarity with Artificial Intelligence tools (LLMs such as Claude, ChatGPT, and Google Gemini).