Product Owner - Bancassurance (Life & Non Life Insurance) I I Dubai | Financial Services| Orient Ins

178153

Job Description

• Product Vision & Strategy (Bancassurance)

• Define and articulate the product vision and roadmap for Life and Non‑Life Bancassurance offerings.
• Align product strategy with bank partner priorities, insurer growth objectives, and customer needs.
• Identify opportunities for cross-sell, upsell, bundling, and lifecycle-based propositions.
• Continuously assess market trends, regulatory changes, and competitor offerings in the Bancassurance space.

• Product Ownership & Delivery

• Act as the Product Owner within agile or hybrid delivery teams, owning epics, features, and product backlog.
• Translate business needs into clear user stories, acceptance criteria, and prioritization decisions.
• Balance speed-to-market with risk, compliance, operational readiness, and quality.
• Own product releases end-to-end, from concept to launch and post-launch optimization.

• Bank Partner & Stakeholder Management

• Serve as the primary product interface between the insurer and bank distribution teams.
• Work closely with bank sales, product, digital, and operations teams to ensure alignment.
• Incorporate bank feedback into product enhancements and roadmap prioritization.
• Support co-creation initiatives with strategic bank partners.

• Life & Non‑Life Product Design

• Own product design across:
• + Life: credit life, protection, term, savings-linked, and group products
• + Non‑Life: motor, health, travel, home, and simplified SME products
• Ensure products are:
• + Simple to explain and sell
• + Digitally enabled and process-light
• + Priced appropriately and actuarially sound
• Collaborate with underwriting and actuarial teams on coverage, pricing, and risk controls.

• Digital & Journey Enablement

• Drive digital-first Bancassurance journeys across bank channels (branch, RM tools, online, mobile).
• Partner with digital and IT teams to ensure smooth integration with bank systems and platforms.
• Optimize onboarding, straight-through processing, policy issuance, renewals, and claims journeys.
• Leverage APIs and reusable services to reduce customization per bank.

• Compliance, Controls & Governance

• Ensure products and journeys are fully compliant with local regulations and bancassurance guidelines.
• Work closely with legal, compliance, risk, and finance teams during product approvals.
• Maintain clear documentation, product governance, and audit readiness.

• Performance & Continuous Improvement

• Track product performance using KPIs such as conversion, attach rate, persistency, claims ratio, and NPS.
• Use insights from data, customer feedback, and bank inputs to continuously improve products.
• Support sales enablement with product training, sales materials, and clear propositions.

Education

• Bachelor’s degree in Business, Finance, Insurance, or a related field.
• Professional insurance qualifications are a plus.

Experience

• 8–12+ years of experience in insurance product management or product ownership.
• Proven experience in Bancassurance distribution models.
• Strong exposure to both Life and Non‑Life insurance products.
• Hands-on experience working with agile delivery teams.
• Experience working closely with banks or financial institutions.

Skills & Knowledge

• What equips you for the role
• Strong understanding of bancassurance business models and economics.
• Solid grasp of insurance product structures, pricing drivers, and underwriting concepts.
• Experience with digital onboarding, STP, and customer journeys.
• Excellent stakeholder management and communication skills.
• Ability to prioritize competing demands and make outcome-driven trade-offs.

Desired Attributes

• Strong customer and banker empathy.
• Commercial mindset with a focus on growth and profitability.
• Structured thinker who can simplify complexity.
• Confident decision-maker comfortable operating in ambiguity.
• Collaborative, credible, and execution-focused.

What Success Looks Like

• Strong adoption and growth of Life & Non‑Life products through bank channels.
• Simple, digital, and compliant products that are easy for banks to distribute.
• High partner satisfaction and strong long-term bank relationships.
• Measurable improvement in conversion, attachment, and customer experience.
• Product management seen as a value driver, not a bottleneck.

About Orient Insurance PJSC