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American International Group
American International Group
New York, NY
Job Reference Code
Global Head of Product Development & Design - Health Products
About the Job
- Reports to the Global Head of Health
- Overall ownership for evolving products and services domestically and internationally; works globally but with strong focus initially on US market
- Lead Product Liaison for Global Product Teams to drive execution in light of limited resources
- Accountable for the overall business and financial performance for products developed even after transitioned to the US Existing Business or Global Teams. This includes achievement of financial targets for revenue, profit and growth targets: Growth, VoNB, PDOC, GAAP Profit, Total GOE – fully loaded for Corporate Expense
- Leads cross functional team and responsible for all aspects of People strategy – Performance, Development, Diversity, etc.
- Works closely with key business partners – Compliance, Operations, IT,
- Training/Communications, Distribution, etc.
- Responsible for end-to-end product development ensuring successful product releases to the market – pricing, customer experience, compliance, reporting, training/communications, ongoing performance monitoring and other critical aspects of the product development and implementation process.
- Integrated and comprehensive product development business process that ensure efficient and effective execution, including ongoing CQI assessments.
- Product research and competitive intelligence – Innovation Labs
- Key member of the Global Health Team Leadership Team and works extremely closely with the US Health Existing Business Product Head
- Underwriting Authority is delegated from the Global Health Team Head
- Ensures integrity of Health Product Team; has line of sight with no more than 3 levels of decision making from Global Head
- Provides leadership for execution of effective risk management tools and processes that are differentiators in the marketplace and increases the Value of New Business (VoNB) for AIG
- Oversight of annual budget and segment strategy execution, in collaboration with Distribution and Product Management. Develops budgets and forecasts in support of the Health long term operating plan to enable achievement of 3 to 5 year financial plan goals
- Assess opportunities and put framework in place to achieve best financial modeling to support future products
- Ensure alignment of business strategies with the requirements of applicable regulations and corporate guidelines – Compliance is a core competency for this role
- Drive and maximize the development of market opportunities to achieve target and maximize financial efficiency through proactive management of all channels
- Works closely with all Product Towers, Distribution, Marketing, Regions, Communications, UGC, RS
- Works in collaboration with all matrix partners, including BSG Head of Business & Market Alignment, to deliver AIG value proposition across products
- Strong business and product experience
- Financial and/or technical background is key – underwriting or actuarial
- Preferred minimum of 10+ years of business, financial or product leadership experience
- Experience with business product development and/or operational design
- Analytical and quantitative skills
- Healthcare product and service knowledge and background
- Knowledge of market segmentation, portfolio management, acquisition and multiple distribution systems
- Process and system skills
- Compliance and regulatory experience
- Strong change management experience
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States.
AIG Property Casualty is a global market leader, one of the few truly global property casualty franchises.
AIG Life and Retirement is one of the largest life insurance organizations in the U.S., and provides protection, investment and income solutions needed for financial and retirement security.
United Guaranty Corporation is the marketplace leader in mortgage insurance in the U.S.