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Asia Market Development Manager, Global Individual Private Medical Insurance

Cigna Worldwide Life Insurance Co

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Asia Market Development Manager, Global Individual Private Medical Insurance

Full-time
Intermediate (3-6 years)

Posted 

Technical Skills

  • Business Development
  • Compliance
  • Corporate Communications
  • Futures
  • Market Development
  • Marketing
  • Product Development
  • Sales
  • Training

Job Description

Asia Market Development Manager, Global Individual Private Medical Insurance

Location: Hong Kong-Hong Kong Island-Causeway Bay

Job Objective:  

The Asia Market Development Manager, Global IPMI is responsible for building and executing the growth strategy for domestic and international individual health solutions in markets across Asia. This strategic individual contributor will work closely with in-market teams, the Health Solutions team, Global IPMI and the Asia regional team to identify, prioritize and execute growth initiatives which support revenue and market share goals for individual health across the region.

The role is focused on identifying where to compete, what distribution channel(s) are most viable, which product and proposition meets the needs of customers in the market, how to market to the identified markets and segments, and implementing programs to communicate value and drive sales. It involves close collaboration with the wider Asia Pacific Regional Sales Team, as well as the Global IPMI Centre of Expertise, including GIPMI market entry; product; marketing; actuarial, legal and distribution teams. It also involves building trusted relationships with country leadership teams in each market to influence and shape decision making around the launch and growth of individual health as a product line, which for many markets is a significant departure from their core competence today, but is increasingly becoming an opportunity-driven priority.



Job Description:
  • Be the “go to” person for individual health in Hong Kong, Singapore and Indonesia.
Including:
    • Development and execution of specific in-market sales and marketing strategies to grow sales through brokers, agents, partnerships and direct channels;
    • Identification and execution of new strategic sales opportunities through alternative distribution channels including non-FI partnerships, insurance partnerships and bancassurance. Including developing business cases, funding requirements and go-to market plans;
    • Support regular training and coaching of sales teams in these markets to ensure individual health remains top of mind and that our sales teams can deliver value to customers and partners;
    • Act as IPMI technical expert in Asia to provide critical guidance and consultation to BD teams and partners dealing with complex IPMI enquiries;
    • Work closely with product and marketing teams to deliver locally relevant marketing materials and communications to amplify and drive activity in market;
    • Partner with product development teams to enhance and support product development and innovation.
  • Provide in-market leadership and support for the localisation of Global IPMI in Thailand and ‘go deeper’ product development in Singapore.
Including:
    • Assessment of health localisation opportunities in Thailand, inc market sizing and dynamics, customer segmentation, regulatory requirements, insights, product requirements and target operating model design in close collaboration with brokers;
    • Act as the broker sales workstream lead on the TH-GIPMI Working Group to support delivery of a proposition and product which meets the needs of brokers and their customers in Thailand;
    • Act as a local consultant to the Cigna Thailand leadership team (including CEO, CMO and CDO) to support and influence decision making on matters related to individual health;
    • Inform hypotheses, conduct analysis and articulate strategic options and plans for the future of Global IPMI in Singapore to inform decision making.
  • Support the Regional Head of Distribution, Global IPMI to grow ‘Rest of Asia’ markets
Including:
    • Identification and profiling of brokers in RoA markets;
    • Liaising with regional and country Legal & Compliance teams to ensure all opportunities are appropriately handled in line with local compliance rules.
  • Partner closely with Global IPMI Centre of Expertise functions to refine and execute on the overall growth strategy for individual health
Including:
    • Serve as the liaison between the Global IPMI team, the Health Solutions team, the Asia Regional Sales team and the market teams to resolve issues and ensure seamless delivery to our customers and partners;
    • Support global broker and partnerships strategy as it aligns with the overall Global IPMI growth acceleration strategy;
    • Support planning of key Asia partner events such as the Hong Kong Rugby Sevens;
    • Support strategy planning cycle for both Global IPMI and the countries in the context of individual health;
    • Develop business-accelerating commission and reward structures which are sensitive to local market regulations but drive incremental performance of partners;
    • Work closely with the Market Entry Team (MET) to identify and respond to requests from new markets seeking to add individual health solutions to their portfolio;
    • Regular engagement with senior country leadership to ensure Global IPMI retains priority in the country product matrix and build sponsorship for key IPMI initiatives in-market;
    • Responsible for feeding back what is required to change existing in-market propositions in order to continually improve the customer proposition.


Qualifications

Job Requirement:

  • University Graduate
  • Over 5 years of solid experience in Sales, Marketing, Business Development, and/or Market Development within Medical Insurance settings
  • Solid product and market knowledge in International Private Medical Insurance
  • Possess strong Brokerage networks within the APAC regions, particularly in Hong Kong, Singapore, and Indonesia.  Possess strong Third Party Administration (TPA) networks within Asia is a plus
  • Excellent communications and presentation skills
  • Driven, self-motivated, and goal-oriented
  • Solid organization and planning skills
  • Fluent in English.  Proficient in an Asian language is not a must, but an advantage
  • Frequent travel may be required for this role
**We will accept only direct applications from candidates** 
Employment TypeFull-time
Career LevelIntermediate (3-6 years)
Education LevelBachelor
LanguageEnglish
Cigna Worldwide Life Insurance CoInsurance and Reinsurance

28 Hennessy Road, Wan Chai, Hong Kong

directions_walk7 mins walk from Wan Chai Station