Product Head - Institutional/Affinity Business

Omnivore; Mumbai; On-site; INR 2,800,000 - 4,200,000; Full time

Job summary

Finhaat in Mumbai is seeking a results-driven Product Head – Group Insurance to lead the development, strategy, and lifecycle management of group insurance products such as life, disability, accident, and health coverage.

The role requires market insight, product strategy, cross-functional leadership, and collaboration with actuarial, underwriting, and finance teams to deliver compliant, customer-centric insurance solutions for diverse employer groups.

Qualifications

• Experience leading group insurance product lines.
• Strong understanding of life, health, disability insurance.
• Ability to collaborate with actuarial, underwriting, and finance teams.
• Regulatory and compliance awareness.

Responsibilities

• Own the product lifecycle for group insurance products—from ideation to launch.
• Develop business cases and product strategies aligned with market needs and regulatory changes.
• Collaborate with legal, compliance, actuarial, underwriting, and finance teams to set pricing and risk parameters.
• Support RFP responses, client proposals, and broker engagement for large group deals.
• Track performance and implement portfolio improvements based on results and feedback.

Skills

Cross-functional leadership

Strategic thinking

Communication

Market analysis

VOC gathering

Education

Bachelor's/Master's degree

Job description

Company Information

Finhaat – a unique financial services distribution platform catering to the distinctive needs of financially underserved population – the Emerging Indians. Our journey started with the belief that all individuals should be equipped to manage their financial health with ease and confidence. This will be possible only when they have an easy access to solutions that are in line with their financial goals.

Suraksha – Protection from Financial Shocks

Suvidha – Easy access to curated financial services

Samriddhi – Trusted Partner for overall financial prosperity

Finhaat has been created as a marketplace for financial services distribution that seeks to connect the customer to the solution provider through an innovative financial service distribution model.

Finhaat gives the right individual with an environment of immense growth depending on its capability and performance.

Job Description

• Job Title: Product Head
• Qualification: Bachelor's/Master’s degree
• Experience: 8-15 Years
• Location: Mumbai
• Domain: Insurance

Job Summary:

We are seeking a results-driven Product Head – Group Insurance to lead the development, strategy, and lifecycle management of group insurance products such as life, disability, accident, and health coverage. This role requires a blend of market insight, product strategy, technical knowledge, and cross-functional leadership to deliver competitive, compliant, and customer-centric insurance solutions.

Key Responsibilities:

Product Strategy & Development

• Own the product lifecycle for group insurance products – from ideation and market research to launch and iteration.
• Develop business cases and product strategies aligned with market needs, regulatory changes, and company goals.
• Collaborate with actuarial, underwriting, and finance teams to define pricing, risk parameters, and profitability goals.
• Evaluate and present the risk to insurance companies (suggesting additional covers depending on the client profile).

Market Analysis & Competitive Intelligence

• Analyze industry trends, customer needs, and competitor offerings to identify gaps and opportunities.
• Gather voice-of-customer (VOC) insights through employer groups and intermediaries.
• Working with client facing colleagues to understand client's requirements and provide end to end solution for placing the business with the insurers i.e. generating quotes, preparing a comparative statement, follow up and policy vetting.

Product Design & Implementation

• Define product features, eligibility rules, plan designs, and value-added services.
• Collaborate with legal and compliance teams to ensure all products meet regulatory and internal standards.
• Work with technology and operations to define product requirements and support system implementation.
• Identifying risk exposures of the client, understanding the insurance requirements, and providing them with insurance solutions.

Go-to-Market & Sales Enablement

• Develop product positioning, sales training materials, and marketing collateral in partnership with Marketing and Distribution.
• Support RFP responses, sales presentations, and broker engagement for large group deals.
• Working with client facing colleagues to understand client's requirements and provide end to end solution for placing the business with the insurers i.e. generating quotes, preparing a comparative statement, follow up and policy vetting.

Performance Monitoring & Optimization

• Track product performance including enrolment, claims experience, persistency, and profitability.
• Recommend and implement product improvements or portfolio adjustments based on performance and feedback.

Key Skills:

• Ability to drive cross functional team for common objectives.
• Interact with key clients of Group business from time to time to understand their concerns and identify improvement areas
• Goal oriented with positive attitude, sincere, hard- working and ambitious.
• Highly effective verbal and written communication with clarity of thought and expression.
• Knowledge and development of systems and processes to support service delivery.