Product Marketing Officer

A Product Marketing Officer is responsible for overseeing the development, management, and optimization of the company's insurance products. The role will lead the design, development, and launch of innovative insurance products that align with the company's growth objectives and market demands. This role involves conducting market research, analyzing customer needs, collaborating with cross-functional teams, and ensuring compliance with regulatory requirements. The Product Marketing Officer will be responsible for product lifecycle management, from concept to post-launch evaluation, focusing on optimizing product performance and profitability. This individual will work closely with different teams in the organization to ensure products are competitive, profitable, and meet customer expectations.

Key Responsibilities:

1. Market Research and Analysis:

Conduct thorough market research to understand customer needs, competitor offerings, and emerging trends in the insurance sector in the Philippines.

Analyze data from customer feedback, sales reports, and market surveys to identify opportunities for new products or enhancements to existing ones.

2. Product Design and Development:

Defining the roadmap for insurance products in alignment with the company's overall strategy and objectives.

Develop innovative insurance products, ensuring they are competitive, compliant with local regulations (such as the Insurance Commission of the Philippines' requirements), and meet customer demands.

Develop documentation aligned with the internal required documents of the organization.

3. Product Lifecycle Management:

Managing the entire lifecycle of insurance products, from ideation to launch and post-launch optimization.

Continuously analyzing and improving products based on performance metrics and customer feedback.

Handling product iterations, ensuring products stay relevant and competitive.

4. Cross-Departmental Collaboration:

Collaborating with sales, marketing, underwriting, claims, and other applicable departments to ensure successful product development and execution.

Working with the IT or digital teams to develop online product platforms.

5. Product Launch and Implementation:

Lead the launch of new insurance products, ensuring all necessary documentation, system integrations, and marketing materials are ready.

Oversee the product implementation process, ensuring that all processes, including underwriting, policy issuance, and claims management, are aligned with the product design.

6. Regulatory Compliance:

Work closely with actuaries, underwriters, compliance, and legal teams to ensure products are financially viable and compliant with the Insurance Code of the Philippines and other regulations.

Ensure all insurance products comply with local regulations and laws set by the Insurance Commission (IC) and other regulatory bodies in the Philippines.

7. Customer Communication and Training:

Work with marketing teams or distribution channel/s to develop communication strategies for promoting new and existing products.

Support the training of internal teams and distribution channels to ensure a clear understanding of product offerings and sales strategies.

8. Post-Launch Product Monitoring and Improvement:

Track the performance and market uptake of the product

Work closely with the marketing team or distribution channel/s and actuarial team to analyze sales data, claims trends, and customer satisfaction levels to gauge product success.

9. Innovation and Trends Monitoring:

Stay up-to-date with global and local industry trends, new technologies, and consumer behavior shifts that may affect the insurance market in the Philippines.

Propose new product innovations or enhancements that align with the evolving needs of the Filipino market.

10. Other Tasks:

Perform additional tasks and projects as assigned by senior management, which may include cross-departmental initiatives, special assignments or strategic projects.

Adapt to evolving business needs and contribute to other areas of the company, as required.