Position Overview
The primary focus for this role is synthesizing new propositions and reinsurance solutions specific to support the strategic growth areas and client needs across APAC. He/she is attuned to the industry trends and opportunities across the region, along with the insights uncovered in market research and a strong appreciation of RGAs core capabilities, is responsible for formulating innovative (re)insurance products/solutions. This includes facilitating the ideation process and collaborating with internal and external stakeholders across functions to develop and commercialize these solutions, including Marketing, Business Development, Product Development, Data Science, Digital Solutions, Underwriting, Medical, Claims and Pricing in the region.
This role plays a critical part to RGAs Creation Re ecosystem, acting as a partner to local business units by sharing product / solution insights relevant to local business growth strategy and facilitating the development of innovative solutions that could benefit from a central development effort, leveraging the network of regional/global SMEs and deployed for local customizations. As such the role plays a key part to developing future propositions that meet end-consumers insurance needs, optimize the insurers value chain, and create sustainable long-term value; in line with RGAs purpose statement of making financial protection accessible to all.
Responsibilities
Drive an efficient product innovation process in the region to support the strategic growth areas and client needs identified across APAC.
Steer market research by defining the scope, designing the questionnaire to ensure relevant insights are obtained to formulate / test new products and solutions for target customer segments. Analyse findings from Market Research to understand our clients, consumers and/or distributors, and translate these insights into developing targeted solutions collaborating with other functional experts.
Upon identifying market opportunities and local strategic growth areas, source new product/ solution ideas from within RGA capabilities across markets regionally and globally, and externally with third parties, and bring relevant ideas to address target growth areas or client needs in APAC by joining the dots. This may involve localizing & customizing product ideas from other markets.
Synthesize ideas and core capabilities, sharpen the commercial pitch of the innovative and strategic solutions by working with internal stakeholders: SMEs and local business leads.
Manage cross-functional projects as identified in the APAC Ideation Hub: this may involve the use of new data and/or model for new risks or new way of risk assessment for a customer / channel segment, in order to provide RGA with an edge in the ever changing, complex product landscape; optimizing the insurance value chain for effective distribution and operation, ultimately creating better value for RGA and our partners, while ensuring new solutions/designs are acceptable to RGA balancing between marketability and risk.
Develop and present thought leadership materials, marketing pitches, client presentations to showcase RGA capabilities and innovative solutions as required in regional or local industry conferences and client seminars, product workshops, on the social media etc.
Set up and maintain effective platform and efficient process for sharing product ideas and knowledge as One RGA:
Regular updates of industry trends and market insights and identifying opportunities in support of local business growth in the region.
Sharing product/ solution information relevant to local strategic growth areas
Enhance and maintain a regionwide proposition repository for internal sharing: product/ solution newsletters, library, case studies, Creation Re showcase, marketing videos, sharepoints etc.
Working with the Regional Marketing team and local business units as required, to enhance and sustain a vibrant BDPD community and mutli-functional collaborative culture in the region by conducting effective forums e.g. BDPD workshops
Requirements
Qualifications & Experience:
15+ years of working experience in life insurance or reinsurance
(re)insurance product / solution development experience is required with a customer-oriented mindset
Well versed in life & health insurance product and value chain
Accreditation as an associate or fellow in a globally recognized actuarial association is an advantage (e.g. U.S., Canada, Australia, UK or equivalent)
Skills & Competencies:
Solid understanding of various Individual life & health insurance products across APAC markets
Keen problem solver; Highly motivated, results oriented and solutions focused
Innovative, proactive and a self-starter with the ability to think outside the box and initiate and drive new products and solutions with internal and external stakeholders
Strong project management skills and commercial mindset: ability to steer discussions with SMEs and syndicate with other stakeholders to achieve a common desirable outcome for the business and proactively manage stakeholder expectations
Ability to collaborate with functional experts and stakeholders from diverse culture and background
Advanced ability to interpret data with valuable insights to business and formulating new solutions
Excellent English communication skills (both written and verbal); strong ability to communicate difficult concepts and negotiates with others to adopt a different point of view
Ability and willingness to travel internationally (30% on average)
Advanced MS Office suite - Excel, Word, PowerPoint
Company Overview
Reinsurance Group of America, Incorporated (NYSE: RGA), a Fortune 500 company, is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. With headquarters in St. Louis, Missouri, and operations around the world, RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development, and financial solutions.
RGA has been named to Fortune magazines 2024 list of the Worlds Most Admired Companies, an acknowledgement that reflects our legacy of innovation, dedicated client focus, community responsibility, commitment to diversity, and long-term value creation. RGA has approximately $
- 7 trillion of life reinsurance in force as of December 31, 2023. To learn more about RGA and its businesses, visit www.rgare.com.
RGAs Commitment to Diversity, Equity, and Inclusion
RGA aims to evolve RGA workplaces and the communities in which RGA has a presence, into more diverse, equitable and inclusive environments. We will create a culture where individuals are valued, feel a sense of belonging, and are respected for their differences a workplace where all employees are encouraged and supported to reach their full potential.
Our individual, social, economic, and cultural identities shape and influence our experiences and perspectives. Therefore, to do our best work RGA will ensure diversity in our workforce across the various dimensions of social, interpersonal, and cultural identity and by practicing inclusivity in how we work with one another. Inclusion in our workplace is a step towards our purpose of making financial protection accessible to all.
Job Reference: AS03168
