Senior Manager/Manager - Product Development - Insurance

Product Development Sr Manager/Manager

1) Develop and Design new products in line with company's strategy/vision and regulatory environment:

- Product Design and Development - Identify portfolio gaps. Evaluate competition landscape basis domestic & international market through benchmarking & research to provide new product ideas per year, based on company strategy, distribution channels and competitor benchmarking.

- New Product Filing - Ensure timely IRDAI filing of new/ modified products and preparation of supporting documents within agreed TATs. Upholding the quality of documents & incorporating all required modifications basis IRDAI queries, to ensure that the product gets approved within the second round of queries from IRDAI Life Department.

- Ensure timely response to IRDAI queries and modification of documents in line with regulatory requirements, within the timeline.

2) End to end project management for effective and efficient launch of products:

- Ensuring product launch within agreed TATs

- Interdepartmental co-ordination to set-up and launches of products and collaterals within defined timeline.

3) Sales Support leading to an enhanced sales experience:

- Providing continuous Sales support (Collaterals, FAQs, One Pagers, Ready Reckoners, Competition Product Comparisons, customized Presentations) to sales team for their on-going requirements within agreed TAT.

4) Projects for business maintenance and enhancement:

- Support in maintaining quality internal processes to ensure no major risk observation during regular audits and maintaining desired accuracy in process adherence.

- Suggesting steps to strengthen existing processes and providing support for implementing the same within the company.

5) Regular Review & Analysis of the product portfolio:

- Evaluating the sales performance through quarterly product review reports and highlight area of opportunity / risk per quarter.

6) Key Projects:

- Spearhead end-to-end project management of projects driven by organization.

KEY PERFORMANCE INDICATORS:

QUALITATIVE :

- Ability to conceptualize and develop Business Case / Product Concepts.

- Understands requirements and minimum rework required (unless external).

- Ensures sign offs from Product Committee and other departments.

- High ownership and Project Management capabilities.

- Coordinate with the stakeholders and ensure that all feedback is incorporated, and best practices are followed.

QUANTITATIVE :

- Timelines are met as defined in the process.

- All requirements for launch readiness have been met.

- Maintain defined TAT's as per defined process.

- Ensure there are no audit discrepancies.

PREFERRED CREDENTIALS:

WORK EXPERIENCE :

- 4-8 years

- At least 2-4 years in the Life Insurance Industry with exposure to Product / Project Management

QUALIFICATIONS : Postgraduate / MBA from an institute of repute (Mandatory)

COMPETENCIES : Excellent communication skills, both written and oral.

- Knowledge of the Life Insurance industry and in depth understanding of Life Insurance Products.

- Good Interpersonal Skills in order to liaise with other departments/Product Committee.

- Self-motivated with a high level of dedication and tenacity.

- High on interpersonal skills with an ability to manage people from diverse geographies, back grounds and hierarchical levels in the organization and on the field.

- Strong leadership skills should be able to provide direction to the team.