Meet the team - Rob Powell, Head of Product Development

What is your role at TAL? 

In my role as Head of Product Development, my team and I develop TAL’s retail and direct products, and we are responsible for the entire product development process. We are a cohesive and customer focused team and it’s an exciting role to be in, to drive product concepts throughout the business.  

What is your professional background? 

I have a bachelor’s degree in Marine Biological Science, and a Master of Insurance and Risk Management.

What role do you play in helping to support advisers to deliver value for their clients? 

My team and I are one part of the puzzle for crafting the promise of cover so that our customers can have the peace of mind of financial security in the event that life takes an unexpected turn. From our end, this process involves extensive analysis, testing, stakeholder engagement as well as change management to ensure that our products meet the needs and expectations of customers and advisers. 

Life insurance hasn’t traditionally been the most innovative category as we offer long term products that don’t tend to change. The recent regulatory change by APRA around Income Protection provided us with a unique and exciting opportunity to reset the balance and re-design a core product from the ground up so that it works better for customers and advisers.  

I have been working to redesign TAL’s Income Protection products to ensure they offer value and meet the needs of our customers – your clients – now and into the future. To do this we undertook in-depth research on our portfolio experience, and engaged with customers, advisers, and licensees to understand needs and test product constructs. This resulted in a ground-up product development project and a new class of Income Protection products that we are confident will offer stability and affordable cover over the long term. 

What are you most excited about in your role for the coming 12 months?

Financial advice and the life industry are going through a transitional period. While change can be disruptive, I am confident we will emerge in a better state that benefits our customers and all other industry participants. 

Personally, I am very excited about the new generation of Income Protection products and the opportunity this brings to correct affordability issues that both customers and advisers are facing.

Tell us something that’s made you smile recently? 

After many months in lockdown, there is nothing more exciting than the thought of future months that have freedom of movement, social activities and travel back into our lives! 

Rob (back left) and his family