SM/AVP/DVP - Products - Life Insurance

Job Responsibilities :

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

- Product Design & 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 defined TATs.

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

- Ensuring impactful product launch adhering to sales requirements and agreed TATs

- Interdepartmental co-ordination, set-up, delivery, sign-off and launch (Marketing, Legal, Compliance, IT, Change Management, Actuarial, Operations, Investments, Underwriting, Policy Servicing, Finance etc.), finding solutions for complex system & process requirements/ workarounds, red flagging the deviations while enabling readiness for timely launch.

3) Sales Support leading to an enhanced sale 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.

- Co-create product related interventions with new age product related content and pitches per quarter, specific to customer segments which can help sales and training team to enhance their delivery modules.

- Provide new collaterals frequently supporting the products being driven by sales.

- Assess methods of innovative digital delivery mechanisms for product collaterals and ensure usage via the same

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.

- Robust Product Compliance Maintenance through proper record keeping and documentation management

5) Regular Review & Analysis of the product portfolio

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

6) Key Projects

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

Work Experience :

- 8 to 12 years

- At least 6 to 8 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.

- Strong Compliance and Record keeping capabilities.

- Good Negotiation and 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, backgrounds and hierarchical levels in the organization and on the field.

- An ability to drive sales behaviour and manage multiple expectations.

- Strong leadership skills, should be able to provide direction to the team and help them learn and grow in order to progress ahead.