Manager/Senior Manager - Product Management

Designation: Manager/ Senior Manager - Product

Location: Corporate Office

Grade: Manager/ Senior Manager

Work Experience: 4-6 years

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

Qualification: Postgraduate / MBA in Marketing

Your journey with us begins here, where success is more than just a possibility-it's the Certainty of Life.

What are we looking for?/What are your roles and responsibilities?

Product Development and Design

- Product Design & Development - Deep understanding of customer needs, market trends and regulatory frameworks to create innovative and competitive product offerings. Conduct competitive analysis, market research, and customer insights to refine product positioning and value proposition.

- Regulatory Preparation - Prepare filing/ launch documents in conjunction with key stakeholders and Actuarial team and ensure that they meet IRDAI guidelines and other applicable laws.

Competitor / Market Benchmarking

- Competition Benchmarking - Regularly identify gaps (white spaces) and emerging market opportunities to assess/enhance the IndiaFirst Life's product portfolio

- Proactive approach to track products / features launched by competitors through Product Research and Benchmarking.

- Conduct Macro level benchmarking of companies and overall product categories in the industry

- Sales Surveys on perception of IndiaFirst as a company, its products, ease of sale, features and its placement against other companies

Project Management for Product Launch

- Own the Product and liaise with Actuarial, Compliance, Operations, IT, Investments for their Inputs/ Sign offs as required.

- Own the Product documents and ensure that they are duly submitted to the required stakeholders

- Own the content for Sales Aides and ensure that they are duly submitted to Marketing

- Ensure all System BRDs, UAT is conducted and approved. Repeat UAT (Pre and Postproduction checks) to ensure error free implementation

- Handhold and ensure all-encompassing launch readiness for each product.

Product Training Content

- Own the design and development of training content and course material.

- Design and development of Sales collaterals to enhance field knowledge and improve competitive landscape in the favour of our products.

- Build positioning and sales pitch for B2B and B2C pitches

- Owning Product pages on Company Website and improving the content for improved visibility

- Event based and regular product training modules

- Distributor Training on Products

Product Review and Analysis

- Conduct Periodic Reviews of Product performance (currently Monthly Product Performance Report Channel Wise and Quarterly /Annual Product Review Reports)

- Derive analysis and insight and share a comprehensive report with Product Head on a periodic basis (Including Deviation from Business Plan / F&U, if any and its impact)

Education - Postgraduate / MBA

Work Experience

- 4-6 years

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

Required Skills

- 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.

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

Competencies

- Quality and Content of Product Material is superior. Able to understand sales process and develop product pitches to align customer needs with product features

- Understands requirements and minimum rework required (unless external)

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

- High ownership and Project Management capabilities.

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

- 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