Banking products manager to insurance product manager
A banking products manager already meets 56% of what the insurance product manager role asks for. The move turns on 10 required skills not yet in the profile.
50.3/ 100
1 How much of what an insurance product manager is expected to do is already part of a banking products manager’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the insurance product manager role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
An insurance product manager role treats 16 of its required skills as things a banking products manager already does. You would walk in with these on day one.
- advise on financial matters
- analyse financial performance of a company
- analyse financial risk
- analyse market financial trends
- corporate social responsibility
- create a financial plan
What stands in the way is 10 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 19 skills that carry over, these are the ones fewest other occupations ask for. An insurance product manager role needs them, and most people applying for one will not have them already. This is the part of a banking products manager background worth leading with.
- already held marketing management business, administration and law
- already held enforce financial policies management skills
- already held financial analysis business, administration and law
- already held financial products business, administration and law
- already held analyse financial performance of a company information skills
- already held financial statements business, administration and law
All 19 carried skills, including the 16 the insurance product manager role treats as required.
Table 3 · What you may need to learn
The 20 missing skills fall into 4 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.
- still to learn principles of insurance required
- still to learn insurance law required
- still to learn insurance market required
- still to learn types of insurance required
- optional, not held modern portfolio theory optional
- still to learn develop financial products required
- still to learn supervise sales activities required
- still to learn plan marketing campaigns required
- optional, not held develop investment portfolio optional
- optional, not held manage staff optional
- optional, not held recruit employees optional
- still to learn promote financial products required
- still to learn create insurance policies required
- optional, not held deliver a sales pitch optional
- optional, not held sell insurance optional
- optional, not held create cooperation modalities optional
- optional, not held ensure cross-department cooperation optional
- optional, not held review investment portfolios optional
- still to learn manage financial risk required
- optional, not held obtain financial information optional
Table 4 · Where to start
The 3 entries an insurance product manager role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 develop financial products practise this
- 02 principles of insurance study this
- 03 promote financial products practise this
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 19 skills that carry over
- already held advise on financial matters skill
- already held analyse financial performance of a company skill
- already held analyse financial risk skill
- already held analyse market financial trends skill
- already held corporate social responsibility knowledge
- already held create a financial plan skill
- already held enforce financial policies skill
- already held financial analysis knowledge
- already held financial management knowledge
- already held financial products knowledge
- already held financial statements knowledge
- already held follow company standards skill
- already held liaise with managers skill
- already held marketing management knowledge
- already held sales strategies knowledge
- already held strive for company growth skill
- already held perform market research skill
- already held plan health and safety procedures skill
- already held statistics knowledge
10 supplementary skills, helpful but not required
- optional, not held deliver a sales pitch optional
- optional, not held sell insurance optional
- optional, not held create cooperation modalities optional
- optional, not held develop investment portfolio optional
- optional, not held ensure cross-department cooperation optional
- optional, not held manage staff optional
- optional, not held modern portfolio theory optional
- optional, not held obtain financial information optional
- optional, not held recruit employees optional
- optional, not held review investment portfolios optional
26 held skills the insurance product manager role does not ask for
- not needed by the target role advise on communication strategies skill
- not needed by the target role advise on investment skill
- not needed by the target role analyse business plans skill
- not needed by the target role banking activities knowledge
- not needed by the target role carry out strategic research skill
- not needed by the target role communicate with banking professionals skill
- not needed by the target role coordinate marketing plan actions skill
- not needed by the target role core banking software knowledge
- not needed by the target role cost management knowledge
- not needed by the target role define measurable marketing objectives skill
- not needed by the target role develop product design skill
- not needed by the target role develop product policies skill
- not needed by the target role draw conclusions from market research results skill
- not needed by the target role economics knowledge
- not needed by the target role electronic business knowledge
- not needed by the target role ensure finished product meet requirements skill
- not needed by the target role financial markets knowledge
- not needed by the target role make strategic business decisions skill
- not needed by the target role market research knowledge
- not needed by the target role marketing principles knowledge
- not needed by the target role operate financial instruments skill
- not needed by the target role plan product management skill
- not needed by the target role prepare market research reports skill
- not needed by the target role securities knowledge
- not needed by the target role survey techniques knowledge
- not needed by the target role trading software knowledge
5 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- still to learn principles of insurance required
- still to learn insurance law required
- still to learn insurance market required
- still to learn types of insurance required
- optional, not held modern portfolio theory optional
Common questions about this move
Can a banking products manager become an insurance product manager?
Yes, and it is a moderate move. A banking products manager already covers 56% of what an insurance product manager is expected to do: 19 skills carry over, 16 of which the insurance product manager role treats as required.
What skills does a banking products manager need to become an insurance product manager?
10 required skills are missing, plus 10 optional ones. They fall into 4 areas of the ESCO skill hierarchy, led by business, administration and law. The single most important is develop financial products.
How hard is the move from banking products manager to insurance product manager?
Its learning distance is 50.3 out of 100, which is the moderate band. That accounts for both how much is missing and how specialised those skills are.
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.