Reports To:

Head of Sales & Marketing

Department:

Marketing

Purpose:

To review existing the company products against customer and market requirements identifying profitable opportunities and developing existing and new products to meet these requirements.

Dimensions:

All company product areas.
Company’s third party broker distribution channel.
Desk and customer research.
Ensure FSA Treating Customers Fairly requirements on product development are complied with.

Principal Accountabilities:

Produce and implement an agreed product development plan.
Undertake market research as required.
Undertake product comparisons as required.
Undertake competitor research.
Identify new and emerging trends.
Recommend changes to existing products following agreed product development and risk assessment processes.
Recommend new products following agreed product development and risk assessment processes.
Complete product development projects to launch.
Provide regular reports and, as required, on product development and competitors, Support Head of Sales & Marketing.

Nature & Scope:

The role is based in Brentwood, but occasional business travel can be expected.
It covers all of the Company’s products.
The company’s statistics and underwriting systems will be used to help understand account and market segment performance.
Support also to be provided through the Statistics department and Underwriting divisions.
To analyse the company products will require a good working knowledge of all the products available.
Analysis of products and markets will require knowledge and use of external desk and customer research data.
The Product Development Executive will need to identify and research markets and provide market intelligence and feedback.
There will be the need to liaise and work closely with the company’s underwriting divisions.
There will be the need to liase with outside suppliers and external bodies as required and to manage any support provided by them.
The PDE will be expected to recommend product development and manage the company’s product development processes.
Support to Class Underwriters will include product, market, statistical and competitor analysis.
Support to the Head of Sales & Marketing will include regular reporting on product development.
The PDE will need to keep informed of relevant market and regulatory requirements and developments.

Skills Required:

An Insurance background is essential.
Good presentation skills.
Ability to work with statistics.
Good IT skills.
Previous marketing or product development experience preferred.