Chief Product Officer - Insurance

Hector And Streak Consulting; Mumbai; Presencial; INR 9 000 000 - 13 000 000; Tempo integral

Resumo da oferta

Hector And Streak Consulting in Mumbai seeks a Chief Product Officer for the life insurance business to shape India-specific product strategy, pricing and portfolio management.

Lead cross-functional teams with marketing, actuarial, compliance, and distribution to deliver compliant, market-leading products, while engaging regulators and policyholders.

This senior role emphasizes ESG, governance, risk management, data-driven decisions, and sustained growth through innovative product offerings.

Responsabilidades

• Develop and execute the India-specific product strategy, aligning with customer needs, market trends, and regulatory requirements.
• Conduct regular product portfolio reviews, repricing analyses, and product mix shifts to address changing market and regulatory impacts.
• Collaborate with marketing, distribution, and actuarial teams to support distribution growth and enhance customer experience.
• Lead the creation of compelling customer value propositions tailored for Indian distributors, partners, and end-customers.
• Oversee local product and pricing teams to ensure timely, compliant, and effective product launches.
• Monitor product performance and make data-driven adjustments as needed.
• Maintain strong relationships with IRDAI and other regulatory bodies.
• Ensure full compliance with all legal, regulatory, and corporate governance standards.
• Implement robust data governance and cybersecurity frameworks.
• Represent the company in industry forums and regulatory engagements.
• Integrate ESG principles into product strategy and operations.
• Promote sustainable investment practices and responsible corporate citizenship.
• Annual Premium Income (API) Growth, Market Share, Product Launch Timeliness, Product Profitability, Persistency, NPS, Regulatory Compliance, Innovation Index, Agency Force Growth, Employee Engagement
• Number of products launched as per business plan

Descrição da oferta de emprego

Hi,

Greetings,

The position is with life Insurance and they are looking Chief Product Officer, India

Location Mumbai

Key Responsibilities

Product Strategy & Portfolio Management

• Develop and execute the India-specific product strategy, aligning with customer needs, market trends, and regulatory requirements.
• Conduct regular product portfolio reviews, repricing analyses, and product mix shifts to address changing market and regulatory impacts.
• Optimize product profitability and capital efficiency, leveraging investment capabilities and expense management.

Product Proposition Development

• Lead the creation of compelling customer value propositions tailored for Indian distributors, partners, and end-customers.
• Collaborate with marketing, distribution, and actuarial teams to support distribution growth and enhance customer experience.

Product Risk Management [TP1]

• Ensure key product/pricing assumptions are acceptable to Appointed Actuary and risks meet company tolerance
• Partner with Finance, Underwriting, and Risk teams to make well-calculated risk decisions and price products competitively.
• Ensure robust risk management practices, including compliance with IRDAI and other regulatory bodies.

Product Implementation

• Oversee local product and pricing teams to ensure timely, compliant, and effective product launches.
• Monitor product performance and make data-driven adjustments as needed.

Regulatory & Governance

• Maintain strong relationships with IRDAI and other regulatory bodies.
• Ensure full compliance with all legal, regulatory, and corporate governance standards.
• Implement robust data governance and cybersecurity frameworks.
• Product management committee & With-profit committee (for participating products)

Stakeholder Engagement

• Represent the company in industry forums and regulatory engagements.
• Build trust with policyholders, partners, and the broader community.

Sustainability & ESG

• Integrate ESG principles into product strategy and operations.
• Promote sustainable investment practices and responsible corporate citizenship.

Key Performance Indicators (KPIs)

• Annual Premium Income (API) Growth: % increase vs. prior year.
• Market Share: Achieve targeted share in life insurance segment.
• Product Launch Timeliness: % of products launched on schedule.
• Product Profitability: Net income and expense ratio within target range.
• Persistency Ratio: 13-month and 25-month policy retention rates.
• Customer Satisfaction (NPS): Maintain or improve Net Promoter Score.
• Regulatory Compliance: Zero major breaches or penalties.
• Innovation Index: Number of new products launched and their market impact.
• Agency Force Growth: Number of active agents and productivity metrics.
• Employee Engagement: Achieve target engagement scores and retention rates.
• Number of products launched as per business plan

Regards,

Sangeeta B