Head of Innovation — Insurance & Investments

Job Summary The Head of Innovation leads the organization's innovation strategy, emerging-technology agenda, experimentation, and development of new products, services, business models, and operating approaches. Within Insurance & Investments, the role identifies opportunities to use AI, automation, InsurTech, FinTech, data, digital platforms, and emerging technologies to improve customer experience, underwriting, claims, investment management, distribution, operational efficiency, and revenue growth. The role acts as a bridge between business strategy, technology, digital transformation, product development, and external innovation ecosystems. Key Responsibilities Innovation Strategy Develop and execute the enterprise innovation strategy and roadmap. Establish innovation priorities aligned with corporate and business-unit objectives. Identify emerging market, technology, customer, and business-model trends. Build an innovation pipeline covering short-, medium-, and long-term opportunities. Establish innovation governance, frameworks, KPIs, and investment criteria. Develop business cases and ROI models for innovation initiatives. Product & Business Model Innovation Identify opportunities for new insurance and investment products. Develop and test new digital products, services, and customer propositions. Explore alternative distribution and revenue models. Lead proof-of-concepts, pilots, MVPs, and commercialization programs. Conduct market and competitor analysis. Use customer insights to identify unmet needs and new opportunities. Insurance Innovation Focus areas may include: AI-enabled underwriting Automated claims processing Digital claims journeys Predictive risk assessment Telematics and usage-based insurance Embedded insurance Digital distribution InsurTech partnerships Fraud detection Automated customer service Personalized insurance products IoT-enabled risk monitoring Investment & Wealth Innovation Explore AI/analytics-enabled investment solutions. Identify opportunities in digital wealth management. Develop new investor engagement and self-service models. Explore robo-advisory and personalized investment experiences. Improve portfolio analytics and investor reporting. Evaluate emerging investment technologies and fintech platforms. Identify opportunities for alternative investment products and distribution models. Emerging Technology Evaluate and develop use cases involving: Artificial Intelligence Generative AI Machine Learning Automation / RPA Blockchain / Distributed Ledger Technology Cloud Computing APIs IoT Advanced Analytics Low-code / No-code Digital Identity Open Banking / Open Finance FinTech / InsurTech platforms Innovation Labs & Experimentation Establish innovation labs, accelerators, or internal innovation programs. Lead ideation workshops and design-thinking initiatives. Develop prototypes and MVPs. Test new technologies in controlled environments. Establish criteria for scaling successful pilots. Stop or redesign initiatives that do not demonstrate sufficient business value. External Ecosystem & Partnerships Build relationships with FinTechs, InsurTechs, startups, universities, technology providers, venture ecosystems, and research organizations. Identify strategic partnerships and investment opportunities. Evaluate startup technologies and potential strategic fit. Manage innovation challenges, hackathons, accelerators, and partnerships. Represent the organization at innovation and industry forums. Data, AI & Digital Transformation Partner with Data & Analytics teams on AI and advanced analytics opportunities. Work with Digital and Technology leadership to scale successful innovations. Identify automation opportunities across operations. Promote data-driven experimentation and decision-making. Ensure innovation initiatives complement the broader digital and technology roadmap. Governance, Risk & Regulation Ensure innovation initiatives comply with financial-services regulations. Partner with Risk, Compliance, Legal, Information Security, and Data Privacy teams. Establish responsible AI and technology governance. Assess cybersecurity, privacy, operational, financial, and regulatory risks. Establish appropriate controls for experimentation and production deployment. Leadership & Commercialization Build and lead innovation teams and cross-functional squads. Manage innovation budgets and investment portfolios. Establish innovation KPIs and executive reporting. Track revenue, cost savings, customer impact, adoption, and ROI. Develop commercialization plans for successful innovations. Present innovation opportunities and results to executive leadership and the Board. Ideal Candidate Profile 12–18+ years of experience across innovation, strategy, digital transformation, product, technology, consulting, or financial services. 5+ years in senior leadership roles. Proven experience building and executing innovation strategies. Strong understanding of emerging technologies and their commercial applications. Experience with FinTech, InsurTech, AI, automation, digital products, analytics, or platform businesses. Strong product-development and business-model innovation experience. Experience taking concepts from ideation PoC MVP pilot commercialization. Strong understanding of financial-services business models. Experience working with startups, technology vendors, accelerators, or innovation ecosystems. Excellent strategic thinking, commercial judgment, stakeholder management, and communication skills. Bachelor's degree in Business, Technology, Engineering, Computer Science, Finance, or related field; MBA/master's preferred.