This involves ensuring alignment with business objectives, meeting compliance requirements, and contributing to the ongoing development of the product roadmap.
The responsibilities of the Product Lead - Motor include, but are not limited to:
- Product Implementation & Maintenance:
- Implementing new products on IT applications and integrating them into processes to support new customer journeys.
- Executing product and rate changes for motor insurance.
- Implementing commission and fee changes for both motor insurance and premium finance.
- Managing changes to insurer and broker documentation.
- Insurer Panel Management & Performance:
- Acting as the primary day-to-day liaison with the panel of insurers.
- Producing management information reports on insurer panel performance for internal and external sharing.
- Reviewing quotability and competitiveness across the panel and from individual insurers and recommending internal changes and suggestions to insurers.
- Supporting the sourcing of new insurer agencies and schemes to enhance quotability and premium competitiveness.
- Compliance & Expert Support:
- Contributing to the drafting of fair value assessments for motor insurance.
- Providing product subject matter expert (SME) support for sales staff during B2B pitches and client retention efforts.
- Ensuring processes and outcomes meet FCA requirements through effective record-keeping and obtaining appropriate authorisations.
- Insurance Distribution Directive (IDD) CPD: This role is in scope for IDD Continuing Professional Development requirements.
- Company Procedures: Comply with all company procedures, policies, and regulations relevant to the remit
- Training & Development:
- Performance & Proprietary: Fully participate in all applicable fitness and proprietary and Performance Review processes. Promptly advise your line manager/HR of any matter that may impact your ability to perform in your role.
- Flexibility: Other duties may be assigned to meet the ongoing needs of the organisation.
- Experience: Previous experience of product management within the financial services industry, and especially motor insurance, would be an advantage.
- Prioritisation: Ability to effectively balance and manage different priorities across multiple motor insurance products will be needed.
- Execution Focus: Strong focus on getting tasks completed.
- Continuous Improvement: Comfortable with continuous improvement activity.
- Attention to Detail: Meticulous attention to detail.
- Multitasking: Comfortable with working on several actions in parallel.