Max Life Insurance - Deputy Manager - Product Management

Position - Deputy Manager - Product Management

No. of Positions 1

Department - Product Management

Function - Product Management & Channel Marketing

Reporting to AVP - Products & Channel Marketing Band 5B

Location - Gurgaon, Haryana

KEY RESPONSIBILITIES - Product Management:

New Product identification and development :

- Identification of new product opportunities

- Project management and co-ordination with other departments like Operations, Finance and Marketing

- Responsible for creating sales literature, filing and launch readiness of new products

- IRDA discussions/ negotiations and response to queries, decisions thereof/ alternatives to be proposed by PCM, thereafter convincing and aligning Channel Head and/or Distribution partners

- Ensure Impactful Launch, adhering to New Product Development lifecycle, of New products/ Sales concepts

Channel Management:

Assist product channel manager in following aspects-

- Enable distribution head to optimize the topline and bottom line results

- Identification of trends and improvement areas which help distribution performance

- Coordinate with other departments to ensure channel initiatives are launched and run smoothly.

- Help in execution of the product strategy, business planning and strategic deployment basis market trends and company strategy

Important Activities:

- Create Sales concepts bundled with Bank's core products

- Develop sales tools for product/ segments with support from marketing team

- Supporting organization wide projects like driving - protection products sales-

- Publish monthly engagement dashboard report to all stake-holders

KEY RESPONSIBILITIES - Channel Marketing:

- Launch products and increase LI penetration across segments with Bank partners: Develop and manage campaigns for new/ existing products in addition to segment specific campaigns-

- Increase penetration of new & existing product in the specific seller helping in product penetration through various marketing activities and initiatives

Work with the Bank to Activate various sellers and visibilise the MLIC brand: Build Visibility for the MLIC brand across touch points-

- Ensure visibility for the MLIC brand across Bank touch points leveraging its assets

- Evaluate the feasibility of joint campaigns and partner with the Bank to popularise the Max Life products / brand and increase activisation of seller \ branches by customizing campaigns

Compliance with Regulatory and Legal guidelines

- Use & File of all customer facing marketing collaterals, along with its management

- Ensure necessary approvals from relevant departments for all communication (internal/external)

Important activities

- Creative Agency Management: Ensuring quality output and managing timely delivery

- Spends management: Ensure maximum cost efficacy of marketing budgets

- Marketing / Brand: Integrate all communication so that it is commensurate with the Brand thought

KEY COMPETENCIES/SKILLS REQUIRED

- Proficiency in MS PowerPoint, MS Word and MS Excel

- Ability to work with cross functional teams, strong networking and inter- personal skills

- Data interpretation skills (analytical in nature)

- Detail- oriented, organized, critical thinker with strong work ethics

- Good interpersonal & communication skill

MINIMUM EDUCATION/MINIMUM /SPECIFIC EXPERIENCE:

- Preference to candidates with MBA from a good business school with excellent academic track record.

- Total experience of 3 years out of which 1 year in sales

- Preferably from financial services, automobiles or consulting sector.

MEASURES OF SUCCESS

- To bring a comprehensive product and marketing view to the channel partner and internal leadership to ensure that organization strategy is well deployed

- On time delivery of product filing plans: Quarter-wise adherence & delivery of EMC approved product calendar

- Adherence to regulatory boundaries for product development & marketing communication

- Consistent and error free document creation, along with necessary approvals

- Comprehensiveness of market & sales analysis

- Smooth coordination with other departments: Regular project management and updates to senior management

- Timely and accurate management reporting at agreed timelines to enable decision making for leadership