Life Insurance Product Manager

About The Role

As Life Insurance Product Manager, you will be responsible for driving the profitability, competitiveness, and strategic development of the bank’s life insurance portfolio in partnership with FWD, the exclusive Bancassurance provider. The role combines analytical and commercial expertise to optimize product performance, enhance persistency, and support sustainable growth of the Bancassurance business through innovative product management, pricing reviews, and financial planning.

How You’ll Contribute

• Conduct regular profitability assessments of FWD life insurance products, identifying opportunities for cost efficiency, revenue enhancement, and margin improvement.
• Evaluate new product proposals from FWD to ensure alignment with the Distribution Agreement, regulatory requirements, and bank profitability benchmarks.
• Analyze and optimize the product lineup to align with customer demand, reduce overlaps, and enhance performance and margins.
• Support negotiations and initiatives to improve Single Premium product commissions and ensure long-term commercial sustainability.
• Collaborate with Retail and Digital teams to design bundled or embedded insurance propositions within bank products (loans, deposits, cards, etc.).
• Co-create and review annual Bancassurance business plans to ensure alignment with SBC’s growth and profitability objectives.
• Track and analyze monthly/quarterly results (premiums, service fees, persistency, margins) to identify trends and levers for improvement
• Ensure all life insurance products and marketing materials meet BSP, SEC, and Insurance Commission requirements.
• Collaborate closely with FWD, Finance, Marketing, Digital, and Operations to ensure smooth execution of product initiatives.
  
  

What We’re Looking For

• 5 to 10 years of product management experience, ideally in insurance or bancassurance.
• Strong analytical and financial modelling skills (profitability, pricing, and sensitivity analysis).
• Solid understanding of Philippine insurance regulations and bancassurance frameworks.
• Excellent communication and stakeholder management capabilities.
• Advanced proficiency in Excel and PowerPoint
  
  

About Security Bank

Security Bank is one of the Philippines’ best capitalized private domestic universal banks. Established

in 1951 and publicly listed with the Philippine Stock Exchange (PSE:SECB) in 1995, our major

businesses cover retail, corporate, commercial, and business (MSME) banking.

We’re recognized as an Employer of Choice in Philippine banking by various award-giving bodies for

our values-based culture, industry-leading engagement and benefits, and commitment to work-life

balance.

Most recently, we ranked as the #2 best employer in the Philippines and #54 globally on the

prestigious Forbes’ World’s Best Employers 2023 list.

At Security Bank, our approach to Human Capital Management (HCM) is embodied by our Employee

Value Proposition (EVP): “YOU matter.”

Start your BetterBanking career with us today.

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