Head – Products

Company Overview

Company details are not specified.

Job Summary

The Head – Products is responsible for leading the product strategy, development, and management for the life insurance business in India. This role focuses on driving innovation, ensuring regulatory compliance (especially with the Insurance Regulatory and Development Authority of India - IRDAI), and delivering customer-centric product propositions that support sustainable growth and profitability. The Head of Products collaborates with cross-functional teams to optimize the product portfolio, monitor product experience, and implement products effectively while responding to the unique needs of the Indian market and regulatory environment.

Responsibilities

• Product Strategy & Portfolio Management

  • Develop and execute an India-specific product strategy aligned with customer needs, market trends, and regulatory requirements.
  • Conduct regular product portfolio reviews, repricing analyses, and product mix shifts to address changing market and regulatory impacts.
  • Optimize product profitability and capital efficiency, leveraging investment capabilities and expense management.

• Product Proposition Development

  • Lead the creation of compelling customer value propositions tailored for Indian distributors, partners, and end-customers.
  • Collaborate with marketing, distribution, and actuarial teams to support distribution growth and enhance customer experience.

• Product Risk Management

  • Ensure key product/pricing assumptions are acceptable to Appointed Actuary and risks meet company tolerance.
  • Partner with Finance, Underwriting, and Risk teams to make well-calculated risk decisions and competitively price products.
  • Ensure robust risk management practices including compliance with IRDAI and other regulatory bodies.

• Product Implementation

  • Oversee local product and pricing teams to ensure timely, compliant, and effective product launches.
  • Monitor product performance and make data-driven adjustments as needed.

• Regulatory & Governance

  • Maintain strong relationships with IRDAI and other regulatory bodies.
  • Ensure full compliance with all legal, regulatory, and corporate governance standards.
  • Implement robust data governance and cybersecurity frameworks.

• Stakeholder Engagement

  • Represent the company in industry forums and regulatory engagements.
  • Build trust with policyholders, partners, and the broader community.

• Sustainability & ESG

  • Integrate Environmental, Social, and Governance (ESG) principles into product strategy and operations.
  • Promote sustainable investment practices and responsible corporate citizenship.

Qualifications

• Educational Background

  • MBA or PGDM in Marketing, Finance, or Insurance from a reputed institute.
  • Actuarial certification or exposure is a strong plus.

• Knowledge and Skills

  • Expertise in life insurance product management, financials, and actuarial science.
  • Strong operational and analytical background.
  • Proven track record in delivering successful life insurance products and transformational initiatives.
  • Deep understanding of the Indian insurance market, customer dynamics, and regulatory environment.
  • Excellent interpersonal, negotiation, and influencing skills.

Preferred Skills

• Strong understanding of data governance and cybersecurity frameworks.
• Ability to integrate ESG principles into product strategy effectively.

Experience

• Minimum of 15 years in Banking, Financial Services, and Insurance (BFSI) with at least 8–10 years in senior product leadership roles.

Environment

Work setting, location, and physical environment details are not specified.

Salary

Salary details are not specified.

Growth Opportunities

Career advancement opportunities within the company are not specified.

Benefits

Details on offered benefits such as insurance, paid leave, work policies, etc., are not specified.