Functional Product Owner

About the job

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.