Product Strategy Manager

IndusInd Bank; Gurugram District; On-site; INR 1,800,000 - 3,000,000; Full time

Job summary

IndusInd Bank invites applications for a Product Strategy Manager – Life Insurance at Gurugram. The role drives sales, product and strategy to grow the Life Insurance book across mass, affluent and open-architecture channels within the bank.

You will lead product programs, analytics-driven campaigns and market intelligence to shape propositions, improve persistency and wallet share, and partner with insurers to expand alliances.

Qualifications

• Essential requirement: 8+ years of experience in Insurance product, with central office exposure in Life Insurance / NBFC / Bank for 5+ yrs.
• MBA from Tier 1/Tier 2 college preferred.

Responsibilities

• Drive LI growth through product & sales strategy in an open architecture platform.
• Create and execute product propositions for Mass, Affluent and Alternate channels.
• Drive product programs, analytics-based campaigns to increase customer engagement and wallet share.
• Design processes for sales, business quality, and post-sales services.
• Drive business quality and persistency; support business target achievement across Life Insurance.
• Develop market intelligence to track trends, regulatory changes and competitive benchmarking.
• Manage strategic tie-ups and partnerships with insurance partners.

Skills

Insurance

Product Management

Strategy

Analytics

Bancassurance

Stakeholder Management

Marketing campaigns

Client engagement

Education

MBA

Job description

Job title: Product Strategy Manager – Life Insurance

Grade Band: Middle Management

Location : Gurugram Office (Cyberhub)

Reports to: Product Head – Life Insurance

Education and Work Experience Requirements:

Preferred: Preferable MBA from Tier 1/Tier 2 college

WORK EXPERIENCE

Essential requirement: 8+ years of experience, with relevant Product exposure in Insurance & Strategy having handled Product Role in Central Office in earlier roles in Life Insurance Co. / NBFC / Bank for 5+ yrs.

Role Details:

This position serves as a key Sales, Product & Strategy driver to achieve overall Life Insurance (LI) growth for IBL in an open architecture environment. The position requires management of Life Insurance portfolio of the bank spanning Mass, Affluent and alternate channels. Driving Program, analytics and marketing and to ensure higher customer engagement and customer wallet penetration

Overall Job Description:

• This position serves as a Product & Sales Strategy driver to achieve overall Life Insurance (LI) business targets for IBL in an open architecture platform.
• Creating and executing product propositions for various customers segments /personas of the bank spanning from Mass, Affluent and Alternate channels.
• Driving Product Programs, Recognition, Analytic based campaigns to ensure higher customer and sales team engagement leading to an increase in life insurance penetration in the base.
• Design and execute processes for sales, business quality, and post sales services.
• Drive business quality and persistency.
• Support Business Target achievement across Life Insurance.
• Front end internal and external audits for life insurance business of the bank
• Develop market intelligence to track key trends in the Life Insurance industry and competitive benchmarking, technology trends and regulatory changes.
• Managing healthy product and revenue mix for the bank
• Market engagement / Customer communications on key business performance.
• Create customer propositions for various customer segments in the bank
• Develop market intelligence to track key trends in the Insurance industry and competitive benchmarking, technology trends and regulatory changes.
• Create Management Business Cases & presentation for Reviews
• Create and execute insurance business processes in accordance with regulatory guidelines.
• Manage strategic tie-ups and identify new opportunities with insurance partners in open architecture environment.

Desired Behavioral / Functional Traits

• Proven track record in Insurance industry with experience in Product, Sales, Strategy and analytics, Bancassurance, client engagement, marketing & campaign management.
• Strong business acumen & communication skills
• Sharp analytical orientation
• Ability to effectively engage with senior stakeholders