Director, Product Management - Disability & FML/Absence Management

Company Name:
American International Group
Please note: We will consider locations outside of Neptune, NJ
In January 2012, Chartis and SunAmerica Financial Group formed a significant new player in the benefits market by combining American General Life Companies' Benefit Solutions division with the Medical Excess and @Work groups from Chartis Corporate Benefits division. The combined entity targets the employee and affinity group markets, and will serve as a one-stop solution for today's changing benefits marketplace for groups of all sizes. The product suite includes life/AD&D;, BTA/accident, universal and term life, stop-loss, organ transplant, group and personal disability, critical illness, accident and cancer insurance. This broad and diverse portfolio provides limitless opportunities to create flexible benefit offerings suitable for all sizes and budgets, and the combined underwriting, distribution and sales strengths of American General and Chartis provides further strength and differentiation in the marketplace.
In this new role reporting to the Vice President, Product Management - Life, AD&D; and Disability, the Director, Product Management will be focused on strategic development and management of AIG's core products - Disability & FML for employer and affinity markets. This position has profit and loss responsibilities for the assigned product set. The position will act as the general manager for the product lines, developing strategy and making decisions within the context of the broader core product strategy and aligned with the AIG Benefit Solutions portfolio strategy. These responsibilities include active review of pricing and strong partnership with legal, compliance, underwriting and claims organizations to influence all aspects of the product. This individual will establish new product development priorities for and serve as the thought leader on this product set.
The Director, Product Management reports to the Vice President, Product Management - Life, AD&D; and Disability, and leads the following primary responsibilities.
Immediate Performance Objectives
Profit and loss accountability for the product set:
-Assess gaps in the product offerings
-Review product performance, drive strategic direction of the product set within the portfolio strategy, and achievement of sales and profitability targets
-Partner with pricing actuaries to ensure strategic pricing of the products and strong understanding of profitability drivers and metrics, including IRR and VoNB
-Establish strong understanding of product performance and lead systematic, on-going performance reviews
-Partner with Legal and Compliance on legislative and regulatory topics impacting the product set
-Provide direction for sales, claims and underwriting teams relating to the product set
Drive innovation for an assigned set of products:
-Develop product development priorities
-Develop solutions-oriented products and capabilities informed by:
Field, market and consumer research
Competitive intelligence
On-going market performance monitoring
-Maximize competitiveness while ensuring product standardization and administrative consistency
-Provide leadership to make AIG Benefit Solutions the recognized industry leader by maintaining competitive, innovative product solutions
-Establish process for systematic, on-going market and field inputs
Manage all aspects of the product life cycle:
-Ensure product integration with marketing, sales, underwriting and operations
-Maintain strong understanding of changing legislative, regulatory, market and competitive landscape to drive profitable growth of new and existing products
-Ensure continued compliance with all applicable rules and regulations
-Develop business cases for new products and product enhancements and prioritize product development and filing initiatives
Supporting Performance Objectives:
Achieve sales and profitability goals for each product line
Develop strong relationships with functional area business partners, including Legal, Compliance, Sales, Marketing, Underwriting, Finance and Operations
Develop a strong understanding of the interdependencies of the AIG corporate functions and business units
Achieve in-depth knowledge of AIG Benefit Solutions products, processes and technology
Keep up-to-date with financial services and insurance industry trends, with a keen focus on the consumer
Perform regular and comprehensive competitive analysis, using all available data sources, including but not limited to customer research, industry data sources; field, broker and industry contacts; and publicly available competitor information
Support the sales force in meeting their objectives by providing competitive products, product positioning, and market and competitive trend analysis
Provide leadership to instill high-performance culture
Demonstrated achievements in managing profitable products
Established track record of product innovation and execution in the employee and affinity benefits markets
8+ years of experience in employee benefits, either in product development or management, actuarial, underwriting or related discipline, and at least two years in Disability and/or FML/Absence Management benefits.
Demonstrated ability to influence and work effectively and collaboratively within a highly-matrix organization and with employees at all levels
Well organized, with a high degree of initiative and endurance in order to prioritize, multi-task, maintain flexibility and ultimately to meet and exceed deadlines in fast-paced, changing environment
Strong analytic, problem-solving and project management skills
Financial acumen
Excellent written, verbal and presentation skills
Strong collaboration and relationship building skills; demonstrated organizational savvy
Demonstrated success in leading major change and transformation initiatives
Bachelor's degree required
Advanced degree strongly preferred 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.
Additional information about AIG can be found at - YouTube: - Twitter: @AIG_LatestNews - LinkedIn:
Job ID #: 95109
Employment Type: Full Time - Permanent
Location(s): NJ-Neptune
Education Preferred: MBA (or equivalent)
Business Unit: AIG Life and Retirement
Relocation Provided: Yes
Functional Area: Marketing
Travel Percentage: 0%

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