Product Owner - Insurance

Role Overview

The Functional Product Owner (PO) will own the business functionality and roadmap of the Policy Administration System (PAS) for Property & Casualty insurance.

The role acts as the functional guide for technology teams, ensuring that the PAS supports end-to-end policy lifecycle processes while remaining configurable, compliant, and scalable.

Key Responsibilities

1. Product Ownership & Roadmap

• Own the functional vision and roadmap for the P&C PAS covering:
• Product setup & configuration
• Rating & underwriting rules
• Policy issuance, claims, endorsements, renewals, cancellations
• Billing, collections & refunds
• Prioritize features and enhancements based on business value, regulatory needs, and operational efficiency.

2. Business Requirements & Backlog Management

• Translate business needs into functional specification document
• Maintain and groom the product backlog in alignment with market needs and changing technology landscape
• Ensure traceability from business requirements → system functionality.

3. Insurance Domain Leadership (P&C)

• Act as a subject matter expert on P&C insurance products such as:
• Motor
• Property/Fire
• Liability
• Marine / Engineering
• Ensure PAS supports:
• Underwriting guidelines
• Policy conditions, deductibles, limits, sub-limits
• Claims, Endorsements, Cancellation, Reinstatement
• Co-insurance, reinsurance functionalities
• Incorporate regulatory and compliance requirements (e.g., IRDAI, IFRS 17, 64VB).

4. Stakeholder Management

• Work closely with:
• Business Analysts
• IT architects, developers, QA, UI/UX team, and Insurtech vendors
• Lead workshops for:
• Process mapping
• Product configuration
• Gap analysis between business needs and PAS capabilities

5. Release & Commissioning

• Serve as Product Owner in

• Release planning and reviews
• Backlog refinement
• Testing and sign-off
• Ensure timely delivery of releases with high functional quality.
• Support product testing by validating scenarios, edge cases, and exceptions.

6. Integration & Ecosystem Alignment

• Define functional requirements for PAS integrations with:
• External APIs (KYC, payment gateways, vehicle/property data sources)
• Insurtechs

Required Skills & Experience

• Strong hands-on experience in P&C insurance operations and systems.
• Deep understanding of policy lifecycle management.
• Familiarity with insurance regulations.

PAS & Technology

• Experience working with PAS platforms such as:
• Guidewire
• Duck Creek
• Insurity
• TCS BaNCS / Majesco / other PAS platforms
• Ability to understand configuration models, rating engines, and workflows.

Product & Delivery

• Proven experience as a Product Owner / Functional Lead / Business Analyst.
• Experience in large transformation or core system modernization programs.

Soft Skills

• Excellent stakeholder communication.
• Strong analytical and problem-solving abilities.
• Ability to challenge business requirements constructively.
• Comfortable working in cross-functional environment.

Preferred Qualifications

• Master’s degree in Insurance or Management.
• Insurance certifications