Insurance Product Development Jobs in Ontario (NOW HIRING)

We are seeking an experienced candidate that can support our clients in the credit card embedded insurance and travel insurance space, as well as other personal insurance products such as home & auto insurance and creditor insurance. You will work as part of a team that features internal colleagues, clients and other external partners from a range of functional and discipline areas such as product, actuarial, operations, project management, account management, vendor management, etc. Your support includes detailed insurance policy structure and language reviews, market research on insurance coverages and benefits, customer communication reviews, customer experience reviews and research, product development & improvement, and distribution channel development. You will become an expert on market products, trends, developments, capabilities and best practices. Your support will include preparing client materials and presentations, as well as participating in client meetings, presentations and correspondence. You will also have the opportunity to contribute to our business development initiatives and learn about emerging insurance product lines. 

We are a unique consulting practice in the Canadian marketplace that focuses on the development of personal insurance solutions. Our clients generally have large customer or membership bases for a core business that is not insurance. Our clients include large financial institutions, retailers, associations, hospitality providers, etc.  We work with these clients to develop and optimize program strategies, insurance products and coverages, and customer experience to help drive their core business and growth plans. We help them drive customer/member engagement, retention and business growth. As a Senior Product & Strategy Analyst within our practice, you will be on the front lines of insurance product strategy development and enhancement, new business development, and will be exposed to a variety of lines of insurance business and unique solutions supporting an ever-evolving marketplace. 

The Role

• Lead insurance product and benefit reviews within consulting engagements

• Conduct research and provide analysis, key insights, and recommendations related to product strategy, new product development, channel delivery and/or existing product and policy language review and enhancement assessments

• Develop and deliver client materials, product and benefit reviews with supporting market research, presentations, client communications, workplans and etc.

• Collaborate with actuarial and analytical team resources to support broader insights into client challenges and opportunities (in conjunction with core strategy, product and consulting engagement and oversight)

• Support the overall project management for engagements across the client team to ensure integration of work with team members and that timelines are achieved

• Provide ongoing and ad hoc support to other senior consulting team members on various engagements

• Identify and implement process and efficiency improvements

• Provide support for new business prospecting and research, and the development of proposals

The Requirements

• University degree in a related discipline

• 3+ years of relevant working experience

• Experience working with one or more of the following insurance product lines: 

  • Travel, embedded credit card benefits, creditor insurance, home & auto insurance, pet health insurance, life and health benefits that cover individuals and their dependents, or other related discipline.

• Hands-on work experience within one or more of the following functional areas in the insurance sector, financial services industry, or in the membership and loyalty space: 

  • Consumer-focused financial services products (insurance, bank product, credit card, loyalty or other)

  • Product management, competitive research, strategy development, market research and emerging trends, new product development, customer acquisition channel management, distribution, new channel development, and/or planning cycles

  • Marketing, customer research, customer communications, development of digital consumer facing content, contact center operations, etc.

  • Claims and underwriting reviews, certificate / policy language writing or reviews, insurance contracts

• Ability to summarize and communicate complex details, information, insights, results and other findings succinctly and with clarity, both orally and written

• Can provide thought partnership and 'out of the box' solutions, think innovatively, and challenge the status quo

• Problem solving, critical thinking and the ability to develop potential solutions for complex business challenges

• Strong work ethic, including ability to show initiative, manage multiple priorities, multi-task effectively and manage time efficiently

• Detail oriented, with a high standard of quality control, organization and resourcefulness

• Works well in a team environment, encouraging other team members and adapting to diverse perspectives

• Demonstrates strong listening skills

• Consistently delivers with a positive attitude and integrity across all interactions

• Power user of MS Office.  

Other Valuable Candidate Assets

The ideal candidate will be familiar with, and have experience in, personal insurance products and partnerships in Canada, and has had exposure to the broader financial services industry.

• Bilingual (English and French)

• Experience working with formal document reviews and construction, insurance contracts, certificates and policy language development
• Claims experience related to reviews, adjudication or assessment
• Experience working with B2B clients, in a consulting capacity or within large partnerships
• Product development and design or strategy
• Work responsibilities that included customer experience development or marketing
• Experience working with multiple personal insurance products, including creditor insurance, travel insurance, embedded credit card insurance or home & auto insurance, etc.

Note: Employment-based non-immigrant visa sponsorship and/or assistance is not offered for this specific job opportunity.

The base salary compensation range being offered for this role is $80,000-$100,000 CAD per year. This role is also eligible for an annual short-term incentive bonus.

Artificial Intelligence (AI) tools may be used in the process to screen, assess, or select applicants for a position but all final decisions and determinations are made exclusively by authorized human personnel.

This job posting is an advertisement for an existing vacancy.

Equal Opportunity Employer

The Role

• Lead insurance product and benefit reviews within consulting engagements

• Conduct research and provide analysis, key insights, and recommendations related to product strategy, new product development, channel delivery and/or existing product and policy language review and enhancement assessments

• Develop and deliver client materials, product and benefit reviews with supporting market research, presentations, client communications, workplans and etc.

• Collaborate with actuarial and analytical team resources to support broader insights into client challenges and opportunities (in conjunction with core strategy, product and consulting engagement and oversight)

• Support the overall project management for engagements across the client team to ensure integration of work with team members and that timelines are achieved

• Provide ongoing and ad hoc support to other senior consulting team members on various engagements

• Identify and implement process and efficiency improvements

• Provide support for new business prospecting and research, and the development of proposals