Position : Vice President - Products & Channel Marketing Department : Products and Channel Marketing Reporting to CVP - Products & Channel Marketing Location : Gurgaon HO JOB SUMMARY: The job holder will be primarily responsible for engaging and enabling sales of life insurance products in a channel and designing BTL marketing activities (for engaging the seller and customer) in a channel. The job holder has responsibility of managing Agency (new branches as well as Defence Channel), IMF/IM, Bancassurance partnerships (LVB, UCBs) and Peerless as well as managing IRDAI interactions with Life Dept for product approvals. These channels contribute more than 30% of our total sales in a year and growth in proprietary channel is a key strategic focus area of the company. Key Responsibilities New Product Launch - Product Ideation and create products basis Ideation workshop done with sellers / customers - Create business case documents for new products and obtain sign off from distribution leaders. - Find solutions for complex system & process requirements/ workarounds and enable operational readiness before launch, by orchestration along with 8-9 different departments - Ensure Impactful Launch, adhering to New Product Development lifecycle, of New products/ Sales concepts Channel Management - Drive higher penetration in under-penetrated segments and increase revenue by co-creating - Go-to Market- strategy - Single point contact for executing all product related strategies for a channel like: - Product mix at channel level - Driving particular products to increase revenue or margin - Co-create product related interventions to impact business with the help of training - Represent product team in all national/ Zonal channel meets - Create an integrated quarterly theme to drive case size and conversion - Publish monthly engagement dashboard report to all stake-holders Channel Marketing - Engage with sales leaders to understand priorities for a quarter and design BTL marketing activities in a channel - Engaging marketing teams of respective channels (like Banks) and ensuring alignment with their activities for better messaging and output - Ensure that BTL activities are within budgets and ensure return on investment by ensuring generated leads are tracked and actioned upon in consultation with channel heads - Gain seller mindshare by creating visibility of Max Life brand and products in channels through visibility by sending EDMs such as knowledge series, danglers, posters etc. - Develop sales tools for product/ segments with Support from marketing team IRDAI Life Dept. Approval - Engage with IRDAI Life Dept. to procure while developing relationships so that product approval is faster and new initiatives are favorably looked upon. Important Aspects Related to Job Role 1) Major Challenges - Impact without authority: influencing a large cross functional team which consists of members most of the time senior than the incumbent: Goal sheet alignment of the SPOC. - Managing multiple expectations: Product channel managers are expected to create new products, align all the stakeholders, conduct TTT for new products, conduct interventions in low performing patches and also participate in new growth opportunities: weekly planning and governance with CFT to set expectations. - Aligning channel heads and marketing teams of third party channels like banks for consistency ofmessaging. Gain seller mindshare who is not only selling insurance products of multiple insurance companies (open architecture) but also other products of banks (such as MF, FD etc) - Creating momentum with respect to new initiatives within a channel such as Protection uptake, Micro- marketing while the natural tendency is to focus on BAU activities. 2) Org Chart - This person reports to SVP and Head - Product and Channel Marketing and typically has a team of 3-4 product managers reporting to him/her. Role of the subordinate is to create support the individual in all product and channel related work. Working relationships : Frequent contact/Nature of interaction Channel Sales Head (Sales) : Identification of Problems and proposing solution; projects review Vice President (IT) : Product IT set up related Asst. Vice President (Marketing) : Marketing Readiness of new product Asst. Vice President (PAG) : Ops readiness of the product AVP (Legal) : Policy Contracts and legal opinion VP/CVP (Distribution) : Launch readiness, specific interventions ZVP/ RM (Distribution) : Launch/ TTT Head of training (VP/ CVP) : Launch readiness of he product VP equivalent of Business partner : Align on new product specs and launch Appointed Actuary : Alignment on Product Features and Operational Readiness Chief Financial Officer : Shareholder profitability requirements and cost of build Chief Distribution Officer : Alignment on how the product will help the business increase sales Chief Operations Officer : Alignment on Operational Readiness and cost of build

Gurgaon/Gurugram

Max Life Insurance - Vice President - Products & Channel Marketing 

Max Life Insurance - Vice President - Products & Channel Marketing  ,Job Description for Max Life Insurance - Vice President - Products & Channel Marketing  in Max Life Insurance in  Gurgaon/Gurugram for (8-10) years of experience. Apply Now!

Job Description for Max Life Insurance - Vice President - Products & Channel Marketing  in Max Life Insurance in  Gurgaon/Gurugram for (8-10) years of experience. Apply Now!