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Lead growth and profitability of the High Net Worth segment in Singapore.
Drive strategy, KPIs and experience for high net worth clients.
About Prudential
Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
The Head, High Net Worth Proposition is responsible for driving the value proposition, experience, profitability and other target KPIs of the segments.
Role Duties & Responsibilities
- Overall responsibility to drive growth, profitability and long-term value of the High Net Worth (HNW) by developing segment strategies, propositions and initiatives. This includes aligning with Distribution efforts, product development, marketing and establish relevant partnerships to deepen share of wallet and drive customer loyalty both onshore and offshore.
- Collaborate with Group Customer team on the strategy and development of a Prudential Global HNW Proposition.
- Evaluate and manage the HNW value propositions to ensure they meet customer needs, differentiate PACS in the market and deliver profitable outcomes for the organization.
- Manage the implementation of short-term and long-term initiatives to improve customer experience including pre-sales, sales, service, claims and all touch points.
- Recommend enhancements to the value proposition and experience to ensure PACS has AWESOME breakthrough solutions and experiences for our Priority Segments.
- Drive, participate and implement initiatives to deliver thought leadership on HNW segment solutions in conjunction with key stakeholders.
- Work with distribution & service teams to provide education, support and communication tools to better target new customer and service existing customers.
- Deliver financial and customer KPI’s for HNW.
- Lead the P&L reporting requirements for the HNW portfolio performance.
- Periodically conduct competitive Market analysis to enhance the value propositions
- Conduct regular portfolio assessment & clean ups to ensure client base is in line with defined target market guidelines
- Work cross functionally with Decision Management, operations, technology, call center and other departments to identify opportunities to enhance client experience for our Priority Segments.
- Work with the marketing team to ensure marketing materials are aligned to the relevant value propositions.
- Conceptualise and execute on an annual event calendar, HNW events to support Distribution channels to drive conversion and increase customer loyalty and engagement
- Implement campaigns to increase the share of wallet of our HNW products to existing and new segment customers as well as drive customer upgrades to the next segment tier.
- Liaise with partnerships team to execute campaigns and onboard new partners for additional services/client privileges
- Address complaints within the specified TAT and take responsibility for fixing the root cause issues.
- Partner with product, distribution and digital teams to deliver tailored and scalable HNW solutions
- Oversee the development of bespoke offerings and advisory frameworks for HNW clients
- Elevate client experience through premium service design, personalization and seamless touchpoints
Key Performance Indicators
- HNW Financial KPIs: APE/NBP
- Increase HNW segment growth to hit customer number growth
- Cross-Sell conversion matrix (% conversion & APE) to increase share of wallet
- Increase Maturity recapture conversion across Distribution channels
- Implement Product or VAS propositions suitable for the HNW
- Strengthen Partnerships and engagement with key Seller Channels to enable sales
Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.