Chief Manager - Product Management - Life Insurance

Context & Role:

- The incumbent in this role shall be responsible for end-to-end management of the product development and launch activities for assigned product / product group for digital space and shall assist in driving approvals and governance process for launch as per agreed product calendar.

- Ensure that all operations and activities undertaken comply with compliance & regulatory requirements and company's direction.

- On an ongoing basis, needs to track & publish competition information and manage cross-functional coordination for new product development processes for online channels including D2C.

- The person in this role needs to work in close partnership with partners in digital space (not necessarily involved in insurance sales) and internal stake holders like investments, marketing, training, underwriting, claims and other support functions to ensure achievement of desired objectives.

Key Responsibilities:

- Product specialist, particularly for retirement & group products including annuities. Lead the development and launch for assigned products to deliver in line with business requirements within the approved launch calendar.

- Competition tracking for new product release, or any other signature moves, gap analysis, new product development, filing and launch as required. Extensive interactions with sales teams and distributors to receive their feedback, inputs and ideas and to funnel them into appropriate actions. Monitor and initiate product revisions to products in the context of market, regulations, and channel requirements.

- Develop appropriate sales pitches, competition product analysis and counter pitches for sales teams, internal marketing campaigns etc.

- Work closely with training teams to cascade product messaging and any new pitches.

- Work with Ops, IT and Underwriting teams to ensure appropriate on-boarding processes are implemented.

Knowledge and Skills required

- Knowledge of Life insurance product life cycle: Idealization to launch of New Product, Apt on preparing presentations, Ops processes & Distribution dynamics.

- Subject matter expertise on Group & Pension products particularly in digital sales space, regulations thereof (PFRDA and IRDAI), NPS and QROPS. Overall understanding of life insurance business drivers like sales, margins, persistency etc.

- Entrepreneurial spirit, strong written and verbal communication, analytical, creative, and innovative approach to solving problems.

- Stakeholder management/ability to interact and communicate well with the senior leadership team of the company. Ability to interact with channel heads and other function heads.

- Ability to influence and get work done from cross functional teams (not directly reporting)

- Coach, mentor and develop direct reports