Retail & Corporate Insurance Product/Distribution Channel Expert - Consulting Firm

At Outsized, we match clients in financial services and management consulting to high-quality independent consultants and boutique/specialist firms for the execution of their key projects.

Our client, A global consulting firm is seeking a Retail and Corporate Insurance Product Design Expert for a 5-month contractual role based in the Kingdom of Saudi Arabia (KSA). This role requires a professional with deep expertise in insurance product development, reinsurance, and distribution channel optimization to assist in launching new insurance products for both retail and corporate clients.

The expert will work closely with cross-functional teams, including product, underwriting, technology, and sales, to ensure the successful development and execution of these initiatives. Additionally, the role involves developing interactive portals for SMEs and corporates and playing a pivotal role in establishing a reinsurer to support the broader insurance strategy.

The role is an essential part of the consulting firm's strategic initiative to expand its client's insurance offerings in the KSA market, focusing on product innovation, digital transformation, and optimizing distribution channels such as bancassurance.

What You Will Be Doing:

- Collaborate with product and underwriting teams to design and launch new retail and corporate insurance products that align with market needs and objectives.

- Lead the development of interactive digital portals for SMEs and corporate clients, ensuring a seamless user experience and effective integration with insurance offerings.

- Work closely with technology teams to implement scalable and robust platforms for product delivery and customer interaction.

- Partner with sales and distribution teams to optimize channels and ensure the efficient delivery of new insurance products across the market.

- Oversee the process of setting up a reinsurer, including coordinating with relevant stakeholders to structure and implement a strategic reinsurance framework.

- Drive the project from concept to execution, ensuring that all departments are aligned with strategic goals and project deliverables.

- Support the optimization of reinsurance arrangements, ensuring that the client's corporate insurance portfolio is well-structured and aligned with risk management and market objectives.

- Provide expert advice on channel optimization, including identifying opportunities to expand distribution channels and enhance customer acquisition strategies.

Your Background:

The ideal candidate will have:

- 10+ years of experience in retail and corporate insurance product development, with a strong focus on reinsurance and distribution channel optimization, including bancassurance.

- Strong experience working with product, underwriting, sales, and technology teams to drive insurance innovation and digital transformation.

- Proven track record in launching successful insurance products in both retail and corporate markets.

- Deep understanding of reinsurance structures and experience setting up and optimizing reinsurer arrangements.

- Experience in building digital portals and tools for SMEs and corporate clients to enhance product accessibility and customer engagement.

- Strong project management skills, with a demonstrated ability to lead cross-functional teams and drive projects from concept through execution.

- Excellent communication and stakeholder management skills, with the ability to align diverse teams towards a common goal.

- Proven ability to innovate and optimize channels for product distribution and customer acquisition.

Other Important Information:

The project is based in SaudiArabia and will run for 5 months with the possibility of extension based on project progress and client needs. This role is an opportunity to work on a high-impact project with a global consulting firm, playing a key role in expanding the client's insurance offerings in the KSA market through product innovation, channel optimization, and strategic reinsurance initiatives.