Product Head - General/Health & Credit Insurance - Bank

Role: Product Head for General, Health & Credit insurance (MNC Bank)

Core Responsibilities:

- Product Management

- Business Planning

- Relationship Management with Insurance Companies

- Help in co - creation of new products along with Insurance partners, suitable for customers

- Handling Promotions/Sales Contests/Incentives

- Legal and Compliance Framework

- Driving General, Health and Credit Insurance Sales Through Various Channels (Retail Banking, Cards, Digital, etc)

- Handling, revamping and setting up Operational Processes

Financial/Budgetary:

- Achieve Revenue targets for the channel

- Ensure renewal retention rates for the portfolio

- Required revenue contribution through the digital channels

- Ensure productivity/workstation/per sales person for the channel

Individual Contributor (IC)/Managerial: Managerial

Key Deliverables:

Business Planning :

- Preparation of Strategy for the General & Health Insurance Business

- Sales & distribution strategy

- Product & Channel Mix

- Growing digital channel contribution to insurance business

- Relationship Management with Insurance Companies

- Manage the key partnerships with the Insurance Partners

- Work closely with the Product/underwriting/Claims/Operations/Marketing and Actuarial teams in developing products/processes that meet the specific needs of the bank's customer

Co-Creation of New Products for the bank :

- Ensure that the bank continually innovates on introducing new and best in class products to bank's customers

- Handling Promotions/Sales Contests/Incentives for Employees

- Execute sales incentive programs to drive sales

- Ensure adherence to bank's and IRDA regulations for all campaigns

Legal and Compliance Framework :

- Ensure that Processes are in line with the regulatory framework

- Work within the Regulatory framework to create distribution /sales models to drive Insurance sales

- Manage control and compliance process requirements for General, Health and Credit Insurance

 Training :

- Create simple, effective and innovative training modules to train the entire sales force across businesses

- Liaise closely with the Insurance partners to ensure Training support for the sales force

- Driving General and Credit Insurance Sales Through Various Channels

- Drive Sales of General/Health Insurance through tele-calling channels & digital - set up new/manage existing channels

 Operational Processes :

- Set up operational processes with the Insurance partners and in conjunction with the various business users to ensure seamless delivery of the products

- Set up systems to support these processes

- Resolve any customer queries and ensure customer satisfaction across businesses