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1.Improve product marketability and profitability by researching, identifying, and capitalizing on market opportunities; improving product packaging; coordinating new product development and optimize existing products and services.
2.Compare competitor’s offerings and use market data to drive decisions around product and service developments/enhancement; target market segments; marketing plans, pricing strategies etc.
4.Ensure all product enhancement is based on new technology, integrates with and accommodates new products, existing and new customer segments and updated processes of working.
5.Develop an innovation structure that can be integrated in Resolution Insurance Ltd.
6.Develop policies, procedures and templates to govern the innovation process from idea generation to the rewarding system.
7.Develop comprehensive product manuals with the support of product partners, as appropriate, and work with the human resource team to schedule a product training program for all employees that is relevant to their level of use and interaction with the products.
8.Prepare and execute a product launch with the Marketing & Sales departments as per approved business case / product development plan.
9.Undertake monthly post-launch reviews of all products and services to assess actual market take-up against anticipated take-up as presented in the approved Business Case.
10.Develop, document and deploy a comprehensive and inclusive product development methodology and process for concept testing, development, market testing, system integration, operational risk management, regulatory compliance, commercialization and resource, skill, product knowledge issues, that is inclusive of all stakeholder participation and sign-off at each step.
11.Identify and analyze potential partners for new products.
12.Customize products to operate seamlessly in the various operating geographies.
13.Brainstorm, investigate, source, research and create new and innovative ideas for products.
14.Conduct due diligence on all product ideas and proposals, develop a comprehensive business case on the investment requirements in terms of resources – financial, people, time, infrastructure, channels, licenses, etc. and anticipated returns in terms of revenue, market share, brand equity, thought leadership, innovation, etc. to determine a ‘go / no-go’ to the next phase.
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