Job Description:

The Product Head is responsible for driving product strategy, development, pricing, and lifecycle management of general insurance products (Motor, Health, Property, Liability, etc.). The role ensures products are competitive, compliant, profitable, and aligned with business growth objectives.

Key Responsibilities:

1. Product Strategy & Portfolio Management:

- Define and execute the product vision, strategy, and roadmap.

- Manage full product portfolio across GI lines.

- Align product strategy with business growth and profitability goals.

2. Product Development & Lifecycle Ownership:

- Lead end-to-end product lifecycle including ideation, design, launch, and optimization.

- Develop product features, coverage, pricing models, and underwriting guidelines.

3. Market Research & Innovation:

- Conduct market analysis, customer segmentation, competitor benchmarking, and pricing strategies.

- Identify new product opportunities and emerging risk segments.

4. Pricing, Profitability & Risk Coordination:

- Work with actuaries/underwriting teams on loss ratio optimization and risk assessment.

- Own P&L of product portfolio and ensure profitability.

5. Regulatory & Compliance Management:

- Ensure compliance with IRDAI product filing norms and regulatory approvals and guidelines.

- Address legal, compliance, and risk concerns in product design.

6. Go-to-Market & Distribution Strategy:

- Develop product launch and distribution strategies.

- Support marketing and sales teams with campaigns and product training.

- Drive customer acquisition and product penetration.

7. Cross-functional Leadership:

- Collaborate with underwriting, claims, sales & marketing, and technology & digital teams.

- Lead product teams and manage stakeholders across business units.

8. Performance Monitoring & Optimization:

- Track product metrics including premium growth, loss ratios, and market share.

- Continuously improve product features and pricing based on insights.

Qualification & Experience:

Mandatory:

- Graduate (Finance / Business / Insurance).

Preferred:

- MBA (Finance / Marketing / Strategy).

- Professional certifications: Insurance (III / IRDAI certifications).

- Actuarial exposure / CFA (added advantage).

Experience:

- 10 - 20+ years in General Insurance and Product Development / Product Management.

- Minimum 5-8 years in leadership role.

- Strong exposure to product launch and lifecycle management, pricing, underwriting, and risk.

Industry Knowledge:

- Deep understanding of General Insurance products (Motor, Health, Fire, Marine), IRDAI regulations, and distribution models (Agency, Bancassurance, Digital).

Key Skills & Competencies:

- Product strategy & innovation.

- Business and financial acumen (P&L ownership).

- Risk and underwriting knowledge.

- Market analysis & customer insights.

- Stakeholder and team leadership.

- Data-driven decision making.

Role Details:

- Role: General Insurance - Other.

- Industry Type: Insurance.

- Department: BFSI, Investments & Trading.

- Employment Type: Full Time, Permanent.

- Role Category: General Insurance.