Job Summary
Zurich Middle East is part of Zurich Insurance Group, one of the world’s largest and most experienced insurers. Our mission is to help our local community understand and protect themselves from risk both locally and globally.
In-line with our strategy, Zurich is looking to hire Bahraini talents who are aspiring to develop and grow their career within the life insurance industry. Working with global, diverse, and inclusive teams, we aim to guide and support you to unleash your skillset, explore your passions and make a positive impact beyond your role - Let's Grow Together.
Reporting to the Propositions Manager, the Propositions Specialist is expected to support in developing proposition strategy (policy, product, communications, platform, service, target market and distribution). Actively reappraise existing propositions, identify new opportunities and create new propositions to maintain competitiveness in Group life insurance and pension.
Job Accountabilities
As Propositions Specialist, your role will involve:
- Lead small to large sized product developments and to own and resolve issues on any development.
- Lead the compliance control activities to ensure the cross-border business complies with local regulatory, legal and tax regimes.
- Maintain the portfolio of existing products updating them in response to regulatory and technical market changes, producing and maintaining product positioning statements, managing regulatory and other product risks arising.
- Develop and maintain propositions with a customer focus, aligned to brand values. Input to, and support, product development including sign-off of key deliverables.
- Identify winning proposition features or underlying approaches to build those features and leverage them across multiple regional geographies as applicable.
- Coordinate cross functional efforts to refresh, upgrade, transfer or develop new propositions and launch them to the market
- Identifying, undertaking the requisite due diligence and onboarding of suitable local partners, where required.
- Exhibit strong all-round business knowledge and understanding on our products, systems and processes as well as the legislative/regulatory environment.
- Support the Propositions manager in managing functional responsibilities and representing the function internally and externally where required.
Business Accountabilities
- Collate and analyze data using the Technical Underwriting Review process and make recommendations to support the underwriter´s decision making process.
- Review and interpret information and advise internal clients of appropriate action to fulfill procedural and regulatory requirements.
- Act as lead technical resource, computing rater and premiums for policies using standard
- methodologies and systems to enable underwriters to deliver to customers efficiently and effectively.
- Assess and evaluate underwriting processes in order to identify areas for improvement, tracking actions and monitoring implementation to demonstrate the impact that change may have.
- Prepare and plan materials needed in order to enable underwriting decision making, making initial recommendations for underwriter´s review/approval.
- Monitor and review financial information, updating where necessary in order to identify any anomalies or discrepancies and ensure management has access to up to date and accurate information.
- Undertake investigations and inspections of data, processes and practice in accordance with the Zurich Risk Policy and Multinational Insurance Proposition to identify potential or actual compliance issues and recommend appropriate action.
- Use local knowledge and expertise to provide liaison between market facing and technical underwriting to ensure an effective and efficient relationship which enhances customer service.
Performance Management Accountabilities
- Model behaviors that demonstrate commitment to corporate values.
- Educate colleagues and business partners on area of technical expertise.
- Provide guidance and support for other departments.
- Take action to manage own personal development.
Job Qualifications
To be successful in this role, you will need:
- Bachelors degree (or equivalent) and 5 or more years of experience in Finance/Insurance, Pension Plans, Asset management products
- Previous experience in corporate savings plans
- Effective Communications and Research skills
- Strong product design and development experience with ability to develop components of propositions
- Wide knowledge of Insurance Products across the industry
- Coordinate the Development of Proposition
- Develop Components of Propositions
- Customer oriented
Why Zurich
At Zurich, we like to think outside the box and challenge the status quo. We take an optimistic approach by focusing on the positives and constantly asking What can go right?
We are an equal opportunity employer who knows that each employee is unique - that’s what makes our team so great!
Join us as we constantly explore new ways to protect our customers and the planet.
- Location(s): BH - Manama
- Remote working: No
- Schedule: Full Time
- Recruiter name: Leigh Jeremy Jaye Santander
- Hiring Manager: Olivier Sebastien Telega
- Closing Date: October 2 2024
