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Head of Life Product

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MassMutual

2mo ago

  • Job
    Full-time
    Expert Level
  • Business, Operations & Strategy
    Product
  • Boston

AI generated summary

  • You need 10+ years in life insurance leadership, deep product knowledge, strong communication skills, innovation in product development, management experience, technical pricing skills, and FSA preferred.
  • You will lead product lifecycle management, drive innovation, oversee profitability, engage with industry trends, collaborate cross-functionally, and mentor your team to achieve optimal outcomes.

Requirements

  • 10+ years life insurance product leadership position
  • Deep knowledge of the life insurance competitive landscape, product structuring and pricing
  • Effective communication skills across all mediums (verbal, written, presentation)
  • Proven track record of innovative life insurance product development
  • Culture carrier and significant management experience
  • Technical life pricing skills
  • High level of critical thinking
  • College Degree
  • Model MassMutual’s Core Values: Focus on the Customer, Act with Integrity, Value People, Work Collaboratively, Achieve Results
  • FSA strongly preferred
  • Familiarity with Mutual company dividends and participating policyowner dynamics

Responsibilities

  • Leads the full product life cycle, with a focus on industry trends, growth opportunities, innovation, distribution, quality and profitability. Responsible for the innovation, development, pricing and implementation of the life insurance product portfolio.
  • Brings a deep understanding of profitability and capital implications to our ongoing pricing work. Oversees risk, capital and budget considerations – balancing competing levers to achieve optimal outcomes.
  • Stays abreast of regulatory changes and how they might impact product development and pricing.
  • Represent the MassMutual Life product suite at industry events and conferences; the face of life insurance at MassMutual.
  • Develops strong internal and external relationships by consulting & partnering to identify unique, creative ways to achieve results. The role will require close interaction and partnership with senior leaders and collaboration across primary business functions including Distribution, Actuarial, Technology, Risk, Operations, Service, Compliance and Legal.
  • Understands enterprise vision, strategy and roadmap to effectively align the team’s goals.
  • Plays a key role in the ongoing diversification of our distribution footprint through active partnership with our non-traditional life producers and our wealth management platform.
  • Partners with the broader product organization to seek creative solutions and design innovative offerings.
  • Provides consultative support to internal stakeholders, clients and partners as needed to facilitate optimal business outcomes.
  • Actively engages with our distribution organization to align product roadmap with emerging business needs and market regulations.
  • Represents the life product function at executive level business reviews, with direct visibility with the company’s leadership team (Chief Actuary, CFO, CRO and CEO).
  • Leads, manages, and directs the activities of the department in all areas, including developing effective people strategies.
  • Fosters a positive and engaged work environment via active mentoring and coaching at all levels.
  • Contributes actively to and supports the broader product Leadership team to foster collaboration, talent development and career growth.

FAQs

What is the main responsibility of the Head of Life Product at MassMutual?

The main responsibility is to ensure that the life insurance product portfolio aligns with the firm's strategy and supports the continued growth of the whole life franchise, overseeing all aspects from concept development to pricing and implementation.

What qualifications are required for this position?

Candidates should have 10+ years of life insurance product leadership experience, deep knowledge of the life insurance competitive landscape, effective communication skills, a proven track record of innovative product development, and management experience, among others.

What kind of team will the Head of Life Product be working with?

The Head of Life Product will work with a dynamic senior leadership team that includes pricing and implementation experts with both technical and qualitative skills, dedicated to the life insurance product suite.

Is there a specific location where this role must be based?

Yes, the role requires maintaining a visible presence in the Springfield, MA campus, with the flexibility to visit other locations such as Boston and New York as needed.

What attributes are considered important for the Head of Life Product?

Important attributes include advanced knowledge of product development processes, exceptional communication skills, the ability to thrive in a fast-paced environment, expert persuasion and negotiation skills, and the ability to attract and retain top talent.

Is a professional designation such as FSA preferred for this role?

Yes, having an FSA (Fellow of the Society of Actuaries) is strongly preferred.

How does MassMutual support diversity and inclusion in the workplace?

MassMutual supports diversity and inclusion through various Business Resource Groups focused on different communities, and actively values DEI (Diversity, Equity, and Inclusion) in its hiring and development practices.

What kind of opportunities for professional development does MassMutual offer?

MassMutual offers access to mentorship opportunities, focused one-on-one meetings with managers, networking opportunities, and learning content on various informational platforms.

Will the Head of Life Product represent the company at external events?

Yes, the role involves representing the MassMutual Life product suite at industry events and conferences, acting as the face of life insurance at MassMutual.

What is the culture like at MassMutual?

The culture at MassMutual values ethics and integrity, collaboration, effective communication, and a commitment to achieving results while focusing on customer needs and valuing people.

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MassMutual

Finance
Industry
5001-10,000
Employees

Mission & Purpose

Living mutual has always been at the core of our human existence, and it's the principle that's guided us since our founding in 1851. It's not a concept we invented, but one we champion for the simple reason that people take it for granted today. While the world would have us strive for independence, the truth is when we depend on one another, we aren't just more secure - life is happier and more fulfilling. So as we celebrate our new identity, we're reminding everyone that who we are stays the same.