Placement Manager

Nova Benefits; Bengaluru; On-site; INR 1,500,000 - 2,200,000; Full time

Job summary

Nova Benefits in Bengaluru is seeking an experienced Placement Manager - Employee Benefits to lead the placement process for Group Medical Cover (GMC), Group Personal Accident (GPA), and Group Term Life (GTL). You will own insurer relationships and drive placements end to end.

This role requires 8–14 years in insurance placement, strong GMC/GPA/GTL know-how, and the ability to negotiate pricing and terms to win competitive deals for Nova and its clients.

Qualifications

• 8–14 years of experience in insurance placement or underwriting.
• Deep experience with GMC, GPA and GTL products and placement processes.
• Strong relationships with private and public sector insurers.
• Understanding GMC underwriting criteria and pricing structures.
• Strong negotiation and commercial skills with insurers.
• Excellent Excel and analytical skills for pricing and arguments.
• Strong commercial judgment beyond premium alone.
• Excellent relationship management, communication and stakeholder management.

Responsibilities

• Own the end-to-end RFQ for GMC, GPA and GTL from requirements to quotations and placements.
• Build and maintain relationships with underwriting teams across insurers.
• Source competitive quotes by insurers based on appetite and pricing.
• Apply GMC underwriting knowledge to identify discounting levers.
• Negotiate pricing, coverage, terms and brokerage with insurers.
• Analyze quotations for coverage, exclusions, terms, underwriting assumptions.
• Monitor market pricing, insurer appetite and trends to stay ahead.
• Collaborate with Sales and Client Success to align on strategy and translate into placements.
• Drive placements to closure with speed, accuracy and follow-through.
• Manage multiple RFQs and priorities, identifying risks and delays proactively.

Skills

Excel

Analytical skills

Negotiation

Relationship management

Stakeholder management

Communication

Job description

Nova Benefits is building India's most loved employee health and wellness platform. We work with some of the country's best employers to give their teams access to high-quality healthcare, and we believe technology is the unlock that makes this possible at scale. We are not just another insurance broker. We think of ourselves as an HR tech company that happens to hold an IRDAI broking license. Our north star is employee happiness, not premium volume.

We are backed by Bessemer Venture Partners, SIG, Better Capital, Titan Capital, and Multiply Ventures, and we are a Series A company with a strong track record of building fast and building well.

The Role

We're looking for an experienced Placement Manager - Employee Benefits to join Nova's placements team and lead the placement process for Group Medical Cover (GMC), Group Personal Accident (GPA), and Group Term Life (GTL). You will own insurer relationships and play a critical role in Nova's ability to win competitive deals for clients. From understanding the RFQ and approaching the right insurers to negotiating pricing, coverage, and commercial terms, you will drive the placement process end to end.

This is not a back-office role. Your ability to understand Employee Benefits underwriting, identify the right levers for discounting, and negotiate effectively with insurers will directly impact Nova's win rates, client retention, and commercial outcomes. The placements function is a critical part of Nova's growth engine. You will work closely with Sales, Client Success, insurers, and internal stakeholders to ensure Nova consistently delivers competitive and high-quality placement outcomes.

What You'll Own

• Own the end-to-end RFQ process for GMC, GPA, and GTL, from receiving requirements to securing final quotations and placements.
• Build and maintain strong relationships with underwriting and decision-making teams across private and public sector insurers.
• Source competitive quotes by approaching the right insurers based on their appetite, underwriting approach, and competitiveness for the specific risk.
• Apply your understanding of GMC underwriting criteria and pricing structures to identify the right levers for discounting and improved commercial outcomes.
• Negotiate pricing, coverage, brokerage, terms, conditions, and other commercial aspects with insurers to achieve the best possible outcome for Nova and its clients.
• Analyse quotations beyond just premium, including coverage, exclusions, terms, conditions, underwriting assumptions, and other commercial considerations.
• Track market pricing, insurer appetite, relative aggression, underwriting trends, and coverage developments to ensure Nova stays ahead of the market.
• Work closely with Sales and Client Success teams to understand requirements, align on placement strategy, and ensure competitive placements translate into stronger deal conversion and client retention.
• Drive placements to closure while ensuring speed, accuracy, and strong follow-through across every stage of the process.
• Manage multiple RFQs and placement priorities independently, proactively identifying risks, delays, and dependencies.

What We're Looking For

• 8-14 years of experience in insurance placement or underwriting, with a strong focus on Employee Benefits.
• Deep experience working with GMC, GPA, and GTL products, with a strong understanding of their underwriting and placement processes.
• Strong, established relationships with both private and public sector insurers, along with a good understanding of insurer appetite and competitiveness across the market.
• Deep understanding of GMC underwriting criteria, pricing structures, and the levers that can be used to negotiate competitive pricing and discounting.
• Strong negotiation and commercial skills, with the ability to negotiate pricing, coverage, terms, and brokerage with insurers.
• Excellent Excel and analytical skills, with the ability to use data and market intelligence to build strong pricing and negotiation arguments.
• Strong commercial judgment and the ability to evaluate quotations beyond just premium.
• Excellent relationship management, communication, and stakeholder management skills.
• Ability to manage multiple RFQs and priorities simultaneously, independently drive placements to closure, and maintain strong attention to quality and turnaround time.
• High ownership, strong follow-through, and the ability to manage risks proactively, delays, and dependencies.

Good to Have

• Experience working with both private insurers and PSU insurers.
• Understanding or exposure to Non-Employee Benefits insurance products.
• Experience working in a fast-paced startup, broking, or high-growth environment.
• Familiarity with technology, automation, or workflow tools used in insurance placements.
• Interest in using technology and AI to make insurance placement processes faster and more efficient.

Why This Role

• Own one of the most critical commercial functions at Nova and directly influence the company's ability to win and retain clients.
• Build and strengthen relationships with insurers across the Employee Benefits ecosystem.
• Work at the intersection of underwriting, commercial strategy, negotiations, and client outcomes.
• Take significant ownership and operate with a high degree of autonomy.
• Work closely with Sales, Client Success, and leadership teams to shape placement strategy.
• Be part of a technology-led company that is rethinking how traditional insurance processes are built and operated.
• Work in a flat, merit-led culture where outcomes and ownership matter more than tenure.

How We'll Measure Success (First 6-12 Months)

• Ability to secure competitive pricing, coverage, and commercial terms from insurers.
• Improvement in new business win rates and client retention through competitive placements.
• Growth in brokerage commission and overall commercial outcomes for Nova.
• Strength and quality of relationships built across private and public sector insurers.
• RFQs and placements completed within agreed turnaround times and driven independently to closure.
• Strong understanding of insurer appetite, market pricing, and the right underwriting levers to secure competitive outcomes.