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
2. Business Requirements & Backlog Management
- Translate business needs into functional specification document
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
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
- Minimum 6 years of 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
