Senior Product Manager- Life and Annuities Insurance Product

Location: Hyderabad

Exp.: 8+ Years

Short description:

Looking for a visionary Product Manager with deep expertise in Life and Annuities Insurance to drive innovation and execution in our product portfolio. This is a high- impact leadership role where you will shape the future of insurance products and solutions, leveraging your extensive industry knowledge and implementation experience to craft cutting- edge strategies. You will also play a pivotal role in integrating Generative AI (GenAI) into our solutions to redefine customer experiences and operational efficiencies

Job description

Innovation starts with inclusion at Oracle. We are committed to creating a workplace where all kinds of people can be themselves and do their best work. Its when everyones voice is heard and valued, that we are inspired to go beyond whats been done before. That’s why we need people with diverse backgrounds, beliefs, and abilities to help us create the future, and are proud to be an affirmative-action equal opportunity employer.

Oracle insurance deliver insurance solutions and digital customer experiences that build the customers’ confidence and keep them loyal. Easily roll out new offerings, implement necessary changes from your sales channels to the back office, and get real-time analytics to better understand your business. This position is for the oracle insurance policy administration (OIPA) product which is market leader in this space and eighth time Oracle has been named a Leader in the Gartner® Magic Quadrant™ for Life Insurance Policy Administration. OIPA helps to improve operations with flexible, rule-based policy administration. Manage new business underwriting, policy issuance, policy processing, billing, collections, claims and group—all on a single life insurance system.

Running on the secure, scalable Oracle Cloud Infrastructure, Oracle Insurance Policy Administration (OIPA) helps life insurers modernize and simplify their business by consolidating multiple policy administration systems on a single platform.

As a member of the product management team, you will define product specifications and or strategy. Gather and analyze information to define product specifications and could review design specifications. Communicate product strategy and functionality. Initiate and foster relationships with other groups. Direct development of product documentation and collateral and review them for superlative customer experience in using the product. Ensure successful product releases based on corporate priorities.

Responsibilities:

Product Leadership:

• Own the end-to-end product lifecycle for Life & Annuities insurance solutions, from ideation to market launch and beyond.
• Define and execute the product strategy, roadmap, and vision, aligning with organizational goals and market needs.
• Work closely with cross-functional teams (engineering, design, marketing, sales, and operations) to deliver scalable, innovative, and customer-centric solutions.

Industry Expertise:

• Bring deep knowledge of Life & Annuities insurance products, including but not limited to term life, whole life, universal life, annuities, and riders.
• Lead the conceptualization and design of product templates and configurations to streamline implementation and meet diverse market needs.
• Stay updated on regulatory, market, and technological trends to anticipate changes and opportunities.

Innovation with GenAI:

• Explore and implement Generative AI-driven solutions to enhance product personalization, underwriting, customer service, and claims management.
• Drive use-case development for AI-enabled tools, collaborating with data science and engineering teams to bring innovative solutions to market.

Stakeholder Communication:

• Present complex ideas and strategies to stakeholders, clients, and executive leadership in a clear, compelling, and professional manner.
• Develop comprehensive and persuasive documentation, including business cases, product requirements, and technical specifications.
• Act as a thought leader, representing the organization at industry events, conferences, and client meetings.

Implementation Expertise:

• Leverage extensive experience in implementing Life & Annuities insurance products across multiple platforms and organizations.
• Partner with delivery teams to ensure seamless product launches and customizations, meeting client-specific requirements while adhering to timelines and budgets.

Other responsibilities:

• Gather and document business requirements of new enhancements being developed into the product.
• Work with product team to develop user stories, UI mock-ups; solicit and analyze user feedback
• Produce and review documentation that will be used by user from the business to technical end
• Partner with outside/outbound product manager, sales and marketing to deliver high quality product collateral if needed
• Launch new services/features by working closely with outside/outbound product managers, marketing, and sales organizations to maximize product adoption
• Present to internal stakeholders, customers and partners
• Represent the products with training and presentations to the Oracle field and customers

Ideal Candidate should have the following qualifications/skills:

• Bachelor’s or master’s degree in Commerce, Business or Computer Science from a reputed college/university.
• Experience in designing and/or implementing life and annuities insurance products is mandatory.
• Overall, 8+ years of experience relevant to this position with at least 6+ years in life insurance.
• Outstanding solutioning skills. History of delivering extraordinary solutions to clients and product delivery. Ability to develop and manage an implementation plan.
• Ability to handle a variety of different projects simultaneously; adapts quickly and easily – manages multiple deadlines and multiple competing priorities in a fast-paced, rapidly changing environment.
• Very strong organizational skills, escalation management skills and attention to detail.
• Excellent collaboration skills. Works effectively as part of multiple, varied project teams and demonstrates genuine commitment to team success.
• Takes initiative and ownership. Proactive, results-oriented, with a can-do spirit in meeting critical deadlines.
• Prior Implementation or product development experience for an insurance policy administration system.
• Must be comfortable in fast paced and sometimes ambiguous work situations. Keen attention to detail and complex problem-solving abilities from operational, business and technical perspective
• A “Go-getter” who focuses on continuous self-improvement and desire to stay abreast of emerging market trends and technologies
• Skilled in delivering clear outcome-based targets and measures by working with a strong sense of urgency in getting the job done.
• Any certification in life insurance domain is a plus.