Manager - Product Strategy

Job title: Product Strategy Manager - Life Insurance.

Grade Band: Middle Management.

Location: Gurugram Office (Cyberhub).

Reports to: Product Head - Life Insurance.

Education and Work Experience Requirements:Preferred: Preferable MBA from Tier 1/Tier 2 college.

Work Experience:

• Essential requirement: 8+ years of experience, with relevant Product exposure in Insurance & Strategy having handled Product Role in Central Office in earlier roles in Life Insurance Co. / NBFC / Bank for 5+ yrs.

Role Details:

• This position serves as a key Sales, Product & Strategy driver to achieve overall Life Insurance (LI) growth for IBL in an open architecture environment.

• The position requires management of Life Insurance portfolio of the bank spanning Mass, Affluent and alternate channels.

• Driving Program, analytics and marketing and to ensure higher customer engagement and customer wallet penetration.

Overall Job Description:

• This position serves as a Product & Sales Strategy driver to achieve overall Life Insurance (LI) business targets for IBL in an open architecture platform.

• Creating and executing product propositions for various customers segments /personas of the bank spanning from Mass, Affluent and Alternate channels.

• Driving Product Programs, Recognition, Analytic based campaigns to ensure higher customer and sales team engagement leading to an increase in life insurance penetration in the base.

• Design and execute processes for sales, business quality, and post sales services.

• Drive business quality and persistency.

• Support Business Target achievement across Life Insurance.

• Front end internal and external audits for life insurance business of the bank.

• Stakeholder engagement / communication on key business performance.

• Develop market intelligence to track key trends in the Life Insurance industry and competitive benchmarking, technology trends and regulatory changes.

• Managing healthy product and revenue mix for the bank.

• Market engagement / Customer communications on key business performance.

• Create customer propositions for various customer segments in the bank.

• Develop market intelligence to track key trends in the Insurance industry and competitive benchmarking, technology trends and regulatory changes.

• Create Management Business Cases & presentation for Reviews.

• Create and execute insurance business processes in accordance with regulatory guidelines.

• Manage strategic tie-ups and identify new opportunities with insurance partners in open architecture environment.

Desired Behavioral / Functional Traits:

• Proven track record in Insurance industry with experience in Product, Sales, Strategy and analytics, Bancassurance, client engagement, marketing & campaign management.

• Strong business acumen & communication skills.

• Sharp analytical orientation.

• Ability to effectively engage with senior stakeholders.