Head - Insurance Products - Strategy & Claims

Description:

Key Responsibilities:

- Define and own the product vision, strategy, and roadmap for all insurance lines (life, health,
general, or a subset).

- Conduct market research, competitor analysis, and customer needs assessment to identify
product opportunities and gaps.

- Lead the ideation, design, and launch of new insurance products.

- Optimize and iterate existing products based on performance, customer feedback, and
profitability.

- Collaborate with Actuarial, Underwriting, Finance, Legal & Compliance, Operations, and
Distribution teams to define product features, pricing, and underwriting guidelines.

- Develop go-to-market strategies, including product positioning, launch plans, and sales
enablement.

- Design incentive structures and channel strategies in conjunction with Sales / Business Heads

Claims Strategy & Management:

- Develop and implement a claims strategy aligned with product goals balancing customer
satisfaction and cost control.

- Work with Claims Operations to design claims processes, workflows, and policies for different
product lines.

- Monitor claims performance metrics (loss ratios, claim frequency, severity) and recommend
strategic actions.

- Partner with actuarial / underwriting to assess emerging claim trends and incorporate insights
into product redesign.

- Engage with external partners (TPAs, hospitals, service providers) to optimize claim settlement,
reduce fraud, and improve turnaround times.

Financial Reconciliation & Reporting:

- Oversee financial reconciliation for insurance products: premiums, commission payouts, product
profitability, reserves, and claims.

- Work closely with finance, operations, and actuarial teams to reconcile accounts related to
product flows.

- Ensure robust controls and audit trails are in place for product-related financial transactions.

- Prepare detailed management reports on product P&L, claim cost, reconciliation variances, and
strategic KPIs.

- Cross-functional Leadership & Stakeholder Management

- Build strong relationships with sales/distribution, underwriting, operations, IT, and actuarial
teams to make product strategy actionable.

- Present product strategy, business performance, and reconciliation / claims reports to senior
leadership.

- Drive and support digital initiatives (insurtech, automation, analytics) related to product and
claims innovation.

Qualifications & Skills:

- Experience: 10+ years in insurance (product management, underwriting, strategy, claims) with a
track record of launching/managing products.

- Technical Skills / Business / Project Management:

- Strong understanding of insurance economics, underwriting, claims.

- Experience with financial modelling, P&L management, and reconciliation.

- Data-driven mindset; ability to analyze performance metrics and drive insights.

- Excellent presentation, negotiation, and communication skills.

- Experience managing complex projects, product launches, and process improvements.

- Comfort working in agile / structured product development environments.

KPIs / Success Metrics:

- Revenue / Premium Growth (by product)

- Profitability / Margin per Product

- Loss Ratio / Claim Cost Trend

- Time to Market for New Products

- Product Adoption / Penetration Rates

- Reconciliation Accuracy (variance reduction)

- Claim Settlement TAT (turnaround time)

- Retention / Lapse Rates

- Regulatory Compliance (no major product compliance issues)

Reporting Structure & Team: