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Vice President, Insurance Product Management
MasterCard
Purchase, NY, United States
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Who is Mastercard?
We are the global technology company behind the world’s fastest payments processing network. We are a vehicle for commerce, a connection to financial systems for the previously excluded, a technology innovation lab, and the home of Priceless®. We ensure every employee has the opportunity to be a part of something bigger and to change lives. We believe as our company grows, so should you. We believe in connecting everyone to endless, priceless possibilities.
Vice President, Insurance Product Management - Loyalty Solutions
• Products and services developed and managed by the Loyalty Solutions team represent key differentiators that power the growth of debit, credit, commercial and advance payments products.
• Insurance product lines managed by this position and are foundational components of Mastercard payment products around the world. They include, but are not limited to: (1) Travel & Accident, (2) Retail, (3) Security, (4) Medical (5) Specialty insurance services and other Personal Lines.
The VP, Insurance Product Management - Loyalty Solutions will:
• Lead team responsible for Mastercard’s insurance benefits and services business on a global basis.
• Drive insurance product line profitability and revenue growth; spearheads global transformation of existing business leveraging new operating and risk management models.
• Direct the development, delivery and ongoing management of profitable insurance products, services and enhancements.
• Direct the development of globally integrated product line strategies and roadmaps to deliver against global and regional business objectives.
• Manage relationships with third party providers and closely collaborates with internal stakeholders in the development and delivery of world-class insurance value propositions for Mastercard branded payment products.
• Ensure full engagement of key stakeholders across all stages of the product lifecycle (inception, development, launch, ongoing management) and across all aspects of the payments value chain (customers, vendors and other external third parties.)
The Role
Leadership & Strategy
• Leads all insurance product management and development activities.
• Drives development of business strategy, plans and product roadmaps.
• Creates and manages compelling insurance product and service value propositions for customers and consumers.
• Manages product/service design, third party provider sourcing, pricing strategy, promotional activities and distribution channel development.
• Leads provider negotiations and relationship management efforts.
• Ensures ongoing alignment and integration of global and regional insurance strategies, plans and product roadmaps.
• Develops market opportunity assessments and competitive analyses.
• Monitors product/service performance and solicits customer feedback.
Financial
• Delivers product financial performance and manage product P&L, in addition to budget & expenses
• Manage financial performance and closely monitor claims experience.
• Drives profitable growth through the creation of new revenue streams.
• Evaluates product growth and commercial prospects.
• Directs the development of financial business cases.
• Monitors and interprets economic trends to drive effectiveness.
• Negotiate with providers to obtain optimal pricing.
Product Management Execution
• Identifies, assesses and engages best-in-class insurance providers.
• Manage broker and third party provider relationships to ensure seamless execution of insurance business activities
• Ensures compliance with all legal, regulatory procedures, information security requirements and contract policies.
• Ensures overall product performance, quality and consistency.
• Leads cross-functional teams to achieve roll-out of the products within agreed timeframes, budget and success criteria.
• Delivers ongoing business analysis and presents recommendations.
• Closely partner with Global Insurance Risk Management function in the ongoing management, execution and oversight of insurance activities
• Work closely with provider network to manage seamless execution.
Sales/Marketing
• Plays key support role in business development and sales efforts.
• Oversees execution of sales collateral, advertising and promotions.
• Initiates and directs research and analysis to validate strategies, trends and competitive opportunities, globally.
• Builds capabilities and expertise to address customer needs.
• Deals with senior executives in customer and vendor communities
All About You
• Significant product management and development experience.
• Extensive knowledge and content expertise in personal insurance lines including travel accident, medical, retail and other specialty insurance.
• Experienced with risk retention strategies and captive management.
• Significant experience in managing third party insurance provider relationships and strategic partners to build profitable products.
• Extensive knowledge/expertise with insurance regulatory requirements.
• Knowledge/experience with risk retention/insurance captive operations.
• Experienced leader with strong people management skills.
• Bachelor’s Degree required, Masters Degree preferred.
Equal Opportunity Employer