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Individual Protection Specialist

Canada Life Group Ltd
Bristol, South West England, United Kingdom
Competitive Salary
Closing date
Nov 25, 2021

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Job Role
Contract Type
Full Time
Level of qualification
Qualified, CIMA
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Position: Individual Protection Specialist

Bristol, GBType: Perm Description: Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.

Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleague

Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.

Job PurposeManage and maintain existing onshore individual protection product suite and proposition.

Lead regular review of the product range, ensuring ongoing suitability and attractiveness in the market, together with identifying future development and enhancement opportunities.

Continuous review of the customer journey with a view to improving customer engagement whilst adopting advancements in technology.

Develop new innovative onshore individual protection products and propositions

Discovery of external partnership opportunities and evaluate the potential of these and drive forward with appropriate opportunities through to implementation.

Key Accountabilities1) Leading the review of product attractiveness and suitability to ensure needs are met on an ongoing basis:

• Through analysis and pro-active engagement, ensuring that the range of products continues to meet the needs of customers and advisers whilst meeting key internal business targets such as adviser and customer satisfaction, persistency and profitability.

• Identifying and successfully implementing opportunities to make improvements required to existing products, features or associated processes.

• Ownership, design and delivery of product scorecards that capture appropriate and relevant metrics

• Leverage other new opportunities including partnership and employer opportunities

2) Lead and drive product enhancement and development activity:

• Ownership and leadership of the product development process ensuring compliance with relevant policies, standards and the stage gate process is maintained.

• Drive project initiation activity to include conceptualisation, market research, input to business case, development of product specification etc. to successful completion by the agreed deadline dates

• Lead project delivery activity to include input to requirements, testing, market launch, sales campaigns etc.

3) Day to day pro-active management and ownership of the product range:

• To ensure ongoing and continued compliance with relevant regulations and legislation.

• Governance and oversight of terms and conditions, ensuring they are compliant with regulatory change and updated to ensure fairness and transparency.

• To ensure product specifications are kept up to date and reflect any changes or enhancements made.

4) To support business growth and profitability through liaison other business areas and with third parties:

• In partnership with the Product & Proposition team, responsible for maximising product feature scoring across all key ratings agencies.

• Ensuring that products feature on the appropriate comparison portals.

• In conjunction with Sales and Marketing teams, responsible for securing and maintaining product panel positions with those adviser firms operating under a restricted panel basis.

• Understanding the current customer and recognition of the new customer behaviours and developments and advancement of technologies (e.g capturing of customer data to inform decision making and creation and development of proposition)

• Maintain relationships with Sales, Marketing and Actuarial departments to assist with the development of new propositions and support the launch to market.

Desired Knowledge / Experience / Skills- Protection experience and market knowledge, preferably within the Individual market

- Experience of the full product cycle from development to market

- Able to think strategically, and independently when seeking out new opportunities

- Knowledge and understanding of multiple distribution channels e.g. affiliate groups, brokers, networks etc

- Experience of product and proposition governance process

- Relationship building both internally and externally

- Understands the underwriting journey and how this changes due to changes of the customer journey

- Financial Services career pathway with relevant professional qualification desirable

What you'll like about working here

As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You'll also receive the support you need with your personal and professional development.

Diversity and inclusion

Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences

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