Description
The Manager, Product Innovation is responsible for identifying, developing, and advancing innovative strategies that differentiate Mastercard's cardholder insurance benefits and drive business growth.
Key Responsibilities:
- Identify and develop innovative product concepts, features, and value propositions that differentiate insurance offerings in the marketplace.
- Monitor insurance, fintech, payments, travel, and consumer benefit trends to uncover opportunities for growth and competitive advantage.
- Conduct market research, competitive analysis, and customer insight activities to understand evolving cardholder needs.
- Partner with product, operations, sales, account management, legal, and insurance partners to evaluate and advance new ideas.
- Build business cases and strategic recommendations for new products, enhancements, and service innovations.
- Assess emerging technologies, digital experiences, and service models that can improve customer value and engagement.
- Support the development and execution of pilots, proof-of-concepts, and new product launches.
- Develop a deep understanding of Mastercard's insurance benefits business by partnering closely with the Director, Insurance Benefits and cross-functional teams.
- Build expertise in the operational, economic, and customer experience drivers of insurance benefits, including claims processes, benefit administration, insurer relationships, customer engagement, and program performance.
- Lead the development of the long-term innovation strategy and roadmap for insurance products.
- Analyze insurance product performance and market dynamics to identify opportunities for expansion and optimization.
- Champion a culture of innovation by bringing forward new thinking and challenging conventional approaches.
Qualifications:
- Bachelor's degree in Business, Marketing, Finance, Insurance, or a related field.
- 5+ years of experience in product management, product development, strategy, innovation, consulting, insurance, financial services, or related disciplines.
- Demonstrated ability to evaluate market opportunities and translate insights into business recommendations.
- Strong analytical, problem-solving, and strategic thinking skills.
- Excellent communication and presentation skills, with the ability to influence stakeholders at multiple levels.
- Experience leading cross-functional initiatives and driving results in a matrixed environment.
- Experience in insurance, benefits, payments, banking, travel services, or adjacent industries is preferred.
What We're Looking For:
- A passion for innovation and creating differentiated customer experiences.
- Curiosity about and/or experience with the insurance industry and a desire to learn how cardholder insurance benefits are designed, delivered, and managed.
- An entrepreneurial mindset with the ability to transform ideas into actionable opportunities.
- Strong research, analytical, and strategic thinking capabilities.
- Comfort navigating ambiguity and identifying opportunities in evolving markets.
- Ability to balance creativity with commercial, operational, and regulatory considerations.
- A collaborative team player who can build relationships across functions and influence without direct authority.
- A self-starter who is eager to learn, challenge conventional thinking, and drive meaningful change.
Success Measures:
- Development and advancement of new product concepts and innovation opportunities.
- Increased differentiation and competitiveness of the insurance product portfolio.
- Identification of new revenue streams and growth opportunities, including consumer-pay offerings.
- Successful execution of pilots, product enhancements, and innovation initiatives.
- Strong stakeholder engagement and cross-functional collaboration.
- Measurable contribution to business growth, customer value, and portfolio expansion.