PHI - Assistant Manager- Group Product Management

prudential; Mumbai; On-site; INR 2,000,000 - 3,200,000; Full time

Job summary

Prudential Health India in Mumbai seeks an Assistant Manager - Product Management to lead health insurance propositions across Retail and Group products, owning end-to-end lifecycle and regulatory alignment.

You will conduct market research, define requirements, collaborate with actuarial, distribution, marketing, and technology, and drive go-to-market plans with training and channel enablement.

Qualifications

• 7+ years experience in product management, with at least 3 years in stand-alone health insurer.
• Experience handling Retail and Retail Under Group products with Quotation Management.
• Excellent knowledge of Product configuration in core systems and front-end sales platforms.
• Strong understanding of the health insurance market, regulations, and competitive landscape.

Responsibilities

• Create, launch, and refine health insurance propositions that serve customer needs, improve saleability, and manage risk for the organisation.
• Own the full product lifecycle of Health Insurance products including Retail Indemnity, Fixed benefit, and Group products.
• Conduct distributor, customer and market research to identify new product opportunities and refine existing offerings.
• Develop compelling, differentiated product propositions for target customer/seller segments that deliver revenue and loss-ratio goals.
• Define and document detailed product requirements including features, pricing, and distribution channels.
• Develop policy wordings and product filing documents, ensuring regulatory compliance.

Skills

Product management

Market research

Regulatory understanding

Go-to-market planning

Cross-functional collaboration

Data-driven insights

Education

Bachelor's in Business/Finance/Insurance

MBA desirable

Job description

Prudential's purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Prudential Health India is a Zero to One team undertaking a no-legacy, greenfield health insurance deployment in India, building journeys that truly empathize with the customer and offer a differentiated experience.

To partner with us in this mission, we are looking for a talented Assistant Manager - Product Management to join our Product & Propositions team in Mumbai.

We are looking for exceptional talent with a passion for transforming the health insurance experience in India . If you have a deep and thorough understanding of the current state of the industry and a clear vision of what a transformed future could be like, for the scope detailed in this job description, we are eager to speak with you !

As a Product Manager , your typical week will include the following...

• Create , launch, and refine health insurance propositions that serve customer needs, improve saleability, and manage risk for the organisation .
• Own the full product lifecycle of Health Insurance products including Retail Indemnity , F ixed benefit (Retail under Group and Standalone Retail) and Group (Employer-Employee) products .
• Conduct detailed distributor , customer and market research and competitive analysis to identify new product opportunities and refine existing offerings.
• Develop compelling , differentiated product propositions for target customer / seller segments that deliver revenue and loss-ratio goals .
• Define and document detailed product requirements (constructs) , including features, functionalities, pricing, and distribution channels.
• Develop policy wordings and product filing document s , customer & sales collaterals that address all regulatory requirements while communicating the proposition with impact. Manage timely resolution of all regulatory queries in collaboration with relevant functions, as required .
• Lead development and execution of go-to-market plans , including marketing campaigns, sales training, and channel partner enablement.
• Collaborate with cross-functional teams spanning actuarial , distribution, health management , marketing, underwriting, claims, customer servicing, and technology to implement and launch products .
• Define and document system requirements for products , ensuring seamless integration with internal and external systems and user journeys .
• Ensure compliance with all relevant regulations and company policies .
• A nalyse product performance data to generate data-led insights and identify areas for improvement.
• Identify and implement product enhancements and innovations to maintain a competitive advantage ; Conduct regular product reviews and manage necessary adjustments to feature basket, pricing, and distribution strategy .
• Conduct internal and external product validations, including feasibility studies, cost-benefit analyses, and customer feedback sessions.
• Develop and implement effective channel and segment strategies to maximize product reach and penetration within the bank channel.

You could be the right candidate if you have

• D egree in B usiness, Finance, Insurance, Statistics or Cleared Actuarial Papers or related field or a related field. A Master of Business Administration from a reputed institute is desirable.
• 7 + years of experience in product management, preferably in the health insurance industry with at least 3 years of experience in a stand-alone health insurer
• Minimum of 5 years of experience in handling Retail and Retail Under Group products within the General /Health insurance industry with hands - on experience in Quotation Management
• Excellent knowledge of Product configuration in core systems and front-end sales platforms
• Strong understanding of the health insurance market, including industry trends, regulations, and competitive landscape.

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.