PHI - Head - Business Development

Prudential Hong Kong Limited; Mumbai; On-site; INR 2,000,000 - 3,000,000; Full time

Benefits offered by this job

Competitive salary with performance-based incentives

Structured training and professional development

Inclusive and supportive culture

Job summary

A leading insurance company is seeking a Head – Business Development for its health insurance operation in Mumbai. This pivotal role involves formulating growth strategies, establishing partnerships, and driving premium growth through strategic alliances. The ideal candidate will have over 10 years of experience in the GI/HI bancassurance sector and demonstrate strong negotiation skills and the ability to mentor a high-performing team. The role offers a competitive salary and an inclusive culture focused on innovation and customer solutions.

Qualifications

• 10+ years in GI/HI bancassurance business development with a strong conversion track record.
• Expertise in market mapping, competitor analysis, and opportunity sizing.
• Strong relationship management with internal and external stakeholders.

Responsibilities

• Lead business development strategies and partnerships for PHHIL.
• Conduct market mapping and competition benchmarking.
• Manage relationships with stakeholders to ensure alignment.

Skills

Business Development

Market Mapping

Relationship Management

Commercial Negotiations

Team Building

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 (UK) in partnership with HCL group** plans to set-up a standalone Indian health insurance company to address the growing healthcare needs of the Indian consumer.This joint venture will combine Prudential's global expertise in insurance and financial services with HCL Group’s experience in technology and healthcare solutions.Prudential, with its longstanding presence in India, already operates two leading businesses in life insurance and asset management with the ICICI Group. Prudential was also the proud sponsor of the 1983 Cricket World Cup, India’s first World Cup Victory!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 us in this mission, we are looking for a talented… **Head – Business Development (Health Insurance)** **Location:** Mumbai **Title:** Head – Business Development **Reporting:** CDO**Role Summary:**The Head – Business Development will lead PHHIL’s growth agenda by formulating and executing business development strategies, building partnerships, and expanding market presence. The role is pivotal in driving premium growth through strategic alliances with regional players, PSU banks, and other partners. The incumbent will also ensure cross-functional collaboration, mentor a high-performing team, and create scalable frameworks that support long-term business objectives.**Typical Week Activities:*** Develop and execute comprehensive business development strategies and pitches aligned with PHHIL’s goals.* Conduct market mapping and competition benchmarking to identify opportunities and areas for differentiation.* Manage relationships with internal stakeholders and external partners to ensure seamless execution and alignment.* Lead commercial negotiations, structuring, and payment processes to create mutually beneficial partnerships.* Coordinate with Go-to-Market and Farming teams to ensure effective transitions and collaboration.* Define the vision for partnerships and position PHHIL as a preferred, easy-to-do-business partner.* Establish a strong regional presence to tap into opportunities across regional, PSU, and small bank segments.* Leverage existing networks and relationships to achieve early momentum and accelerate business growth.* Build and mentor a second line of young, dynamic business developers to cover 100% of the market and maintain a robust pipeline.**You Could Be the Right Candidate If You:*** At least 10 years of experience in GI/ HI bancassurance business development with a proven track record in terms of conversions, premium and market share achieved.* Demonstrate expertise in market mapping, competitor analysis, and opportunity sizing.* Possess strong relationship management skills, working effectively with internal teams and external partners.* Are experienced in commercial negotiations and structuring deals that drive business outcomes.* Have a proven track record of building scalable teams and mentoring high-potential talent.* Are able to translate vision into action, aligning business strategies across functions.* Thrive in fast-paced environments and are comfortable working with multiple stakeholders.* Communicate effectively, inspire teams, and create a culture of accountability and performance.**This Could Be the Gig for You If You:*** Are passionate about building new partnerships and expanding PHHIL’s reach across markets.* Enjoy analyzing market trends and using insights to create differentiated offerings.* Believe in collaboration and are skilled at engaging diverse teams to achieve results.* Take ownership of the business, thinking wing-to-wing across functions to deliver outcomes.* Value agility, resilience, and data-driven decision-making in challenging environments.* Aspire to create lasting relationships that contribute to long-term business success.* Are eager to lead and nurture a team that thrives on growth, innovation, and customer focus.**What We Offer:*** A competitive salary with attractive performance-based incentives.* Opportunities to shape the growth of a greenfield health insurance business.* Exposure to strategic initiatives and collaboration with top leadership.* Access to structured training, mentorship, and professional development programs.* A supportive and inclusive culture that encourages innovation and customer-centric solutions. **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.Prudential plc provides life and health insurance and asset management to 18 million customers across 24 markets in Asia and Africa.We are headquartered in London and Hong Kong and are focused on four strategic regions: Greater China, ASEAN, India and Africa. We are served by around 68,000 average monthly active agents and more than 200 bank partners.Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom.Find out more atFollow us on LinkedIn