Table 1Transition record

banking products managertoinsurance 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.

From banking products manager

56%

Overlap1

To insurance product manager

19 Skills carried over

10 Required, not held

50.3 Difficulty2

adjacent 0–30

moderate 30–55

substantial 55–75

career change 75–100

this move, 50.3

This move: 50.3 of 100 · moderate

1 Share of the insurance product manager role’s weighted skill requirement already met by the banking products manager profile. Required skills count in full, supplementary skills at 0.35. Directional: the figure for the reverse move differs. 2 Combines what is missing with how specialised it is, so a gap of general skills scores easier than the same number of narrow ones.

Table 2

Table 2 · What you already bring

Of the 19 skills that carry over, these are the ones fewest other occupations ask for. A 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.

Skill the target role also needs Area

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

Table 3 · What you would need to learn

The 20 missing skills fall into 4 areas of the ESCO skill hierarchy, numbered below in the order worth working in: the areas carrying the most required skills come first, and inside each one the required skills sit above the supplementary ones.

Skill to acquire Tier

01 business, administration and law 4 required, 1 supplementary

required, not held principles of insurance required
required, not held insurance law required
required, not held insurance market required
required, not held types of insurance required

optional, not held modern portfolio theory optional

02 management skills 3 required, 3 supplementary

required, not held develop financial products required
required, not held supervise sales activities required
required, not held plan marketing campaigns required

optional, not held develop investment portfolio optional
optional, not held manage staff optional
optional, not held recruit employees optional

03 communication, collaboration and creativity 2 required, 5 supplementary

required, not held promote financial products required
required, not held 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

04 information skills 1 required, 1 supplementary

required, not held manage financial risk required

optional, not held obtain financial information optional

Table 4

Table 4 · Where to start

The 3 entries a insurance product manager role is least likely to hire without. The ordering is computed from the skill data, not from what pays.

Each entry opens a course search for that skill. Career Overlap earns nothing from these links.

Appendix

Appendix · The rest of the record

All 19 skills that carry over

Skill Type

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

Skill to acquire Tier

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

Skill Type

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.

Skill to acquire Tier

required, not held principles of insurance required
required, not held insurance law required
required, not held insurance market required
required, not held types of insurance required
optional, not held modern portfolio theory optional

Index

Other moves recorded from banking products manager

Full index of moves from banking products manager

Note

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.