Product Manager (Employee Benefits)

Transamerica • Cedar Rapids, IA

100d • $80,000 - $95,000

About The Position

Drives long-term strategy by researching and designing life and health insurance products for individual and group markets, from inception to launch. Manages existing product portfolios to ensure profitable sales.

Requirements

• Bachelor’s degree in a business related field or equivalent experience.
• Two years of product development experience in the life or health insurance industry.
• Understanding of insurance product features and riders.
• Understanding of insurance sales and marketing techniques.
• Analytical skills and attention to detail to perform market analysis, customer research, opportunity sizing, profitability assessments, and risk/legal/compliance assessments.
• Communication and interpersonal skills to educate audience and advocate recommendations with team members and stakeholders at all levels of the organization.
• Decision making skills to create scope and content for consumer market research, and use insights to develop product design and features.
• Strategic thinker and facilitation skills.
• Advanced proficiency in MS Office (Excel, PowerPoint, Word).

Responsibilities

• Analyze market trends and competitive landscape to discern product opportunities and translate market conditions into valid value positions.
• Research potential market opportunities; build the business case for product innovations by gathering distribution and consumer feedback, reviewing industry sales trends, and understanding demographic shifts/consumer preferences.
• Make recommendations to the product leader and team on product features, competitiveness, profitability, sales goals and launch date.
• Conduct feasibility studies, research and development, and participate in labs to evaluate ideas.
• Collaborate with sales and margin analytics team and other business groups to conduct hypothesis testing and opportunity sizing; develop capabilities based assessments (CBA) and execution approach.
• Partner with distributors, Marketing, Finance, IT and other key stakeholders to recommend product features, competitiveness, profitability, sales goals and launch dates.
• Negotiate needs and bring consensus/closure to issues, and facilitate decisions on new business portfolio issues.
• Develop product specification documents, product guides and other product documentation.
• Serve as a subject matter expert to functional areas on product information required during the product development process.

Benefits

• Competitive Pay
• Bonus for Eligible Employees
• Benefits Package
• Pension Plan
• 401k Match
• Employee Stock Purchase Plan
• Tuition Reimbursement
• Disability Insurance
• Medical Insurance
• Dental Insurance
• Vision Insurance
• Employee Discounts
• Career Training & Development Opportunities
• Health and Work/Life Balance Benefits
• Paid Time Off starting at 160 hours annually for employees in their first year of service.
• Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
• Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
• Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
• Adoption Assistance
• Employee Assistance Program
• College Coach Program
• Back-Up Care Program
• PTO for Volunteer Hours
• Employee Matching Gifts Program
• Employee Resource Groups
• Inclusion and Diversity Programs
• Employee Recognition Program
• Referral Bonus Programs

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees