Manager, Product Innovation

About Igloo

Igloo (formerly Axinan) is the first full-stack insurtech firm to emerge from Singapore. With offices across Singapore, Indonesia, Thailand, the Philippines, Vietnam, Malaysia, China and India, Igloo is fueled by a mission of making insurance accessible and affordable for all. Igloo's innovation solutions empower companies to eliminate operational risk, drive new revenue streams and optimise and enhance their existing products and services. With a successful Pre-Series C fund round of US$36 million in Dec 2023, Igloo has now raised over US$100 million. The leading regional insurtech firm looks to expand regionally with strategic acquisitions and hiring great talent.

As a passionate team building meaningful solutions to make an impact, we are looking for like-minded individuals to join us at Igloo. At our core, we prioritise teamwork and foster a culture built on strong collaboration and we are looking for talented people like you.

About the role

We are seeking a highly strategic and hands-on Manager, Product Innovation to lead the creation and implementation of groundbreaking digital first insurance products. This pivotal role requires a unique blend of creative thinking, deep insurance regulatory knowledge, and a pragmatic approach to execution. The ideal candidate will be a self-starter who can operate independently from day one, by taking a product from initial concept through to successful filing and launch with the Office of the Insurance Commission (OIC) or innovating existing product to be a digital first insurance product.

Key Responsibilities

• Product Strategy & Management: Develop and own the insurance product innovation roadmap for selected insurance lines, aligning with the company's overall business strategy and growth objectives.
• End-to-End Product Innovation and Development: Lead the entire insurance product development lifecycle: from market research, ideation, and feasibility analysis to pricing, policy wording drafting, and system requirements definition.
• OIC Liaison & Filing: Serve as the primary expert on all matters related to the OIC. Prepare, submit, and manage the complete insurance product filing process, ensuring all applications are compliant, accurate, and approved in a timely manner.
• Cross-Functional Collaboration: Work closely with key internal stakeholders, including Actuarial, Marketing, Sales, Legal, Compliance, and Technology/Product teams to ensure successful insurance product launch and implementation.
• Market & Competitor Analysis: Continuously monitor the competitive landscape, customer trends, and regulatory changes in the Thai insurance market to identify new opportunities for innovation and product enhancement.
• Risk & Compliance: Ensure all products and processes adhere to the OIC's regulations, company's underwriting guidelines, and overall legal and compliance frameworks.
• Stakeholder Management: Effectively communicate product vision, strategy, and progress to senior management and other stakeholders.

Requirements

• Minimum of 5 to 8 years of experience in product development within the insurance industry, with a strong preference for candidates with direct experience in the Thai market.
• Proven, hands-on experience in developing and filing motor insurance and/or health insurance products with the Office of the Insurance Commission (OIC) is non-negotiable.
• Good understanding of OIC regulations, circulars, and filing procedures. 
• Technical knowledge of insurance products, including policy wordings, terms & conditions, coverage, exclusions, and pricing principles.
• Experience working closely with actuarial teams on pricing and modelling.
• Bachelor's degree in Finance, Business, Economics, Law, or a related field. A Master's degree or professional certifications is highly desirable.
• Proficiency in both English and Thai is essential for effective communication with local regulators and internal teams.

Desired Personal Qualities

• Independent & Proactive: A self-motivated person who can initiate and drive projects with minimal supervision. Must be a "doer" as well as a strategist.
• Innovative Mindset: A creative thinker who can challenge the status quo and develop products that differentiate us in the market.
• Analytical & Detail-Oriented: Possesses strong analytical skills with an impeccable eye for detail, especially crucial for policy drafting and regulatory compliance.
• Results-Driven: Focused on achieving outcomes and managing the product development process to meet critical deadlines.
• Excellent Communicator: Exceptional negotiation, presentation, and interpersonal skills, with the ability to explain complex concepts clearly to various audiences.
• Strong Project Manager: Ability to manage multiple complex projects simultaneously in a fast-paced environment.

What We Offer

• A competitive compensation package with performance-based bonuses.
• A pivotal management role with significant autonomy and impact on the company's future.
• The opportunity to innovate and shape the insurance market in Thailand.
• A collaborative and supportive work environment.