Urgent Opening- Product Manager- Life Insurance

Job Title Product Head, Life Insurance

Designation Senior Manager/ AVP Life Insurance

Location Mumbai

Reports to Regional Head

Job Purpose The purpose of this role is to ensure the target revenue from the life insurance

products is met by driving the product sales with the sales force and ensure that the growth in

absolute revenues exceeds targets. The role incumbent is expected to lead and establish the life

insurance products strategy and deployment for performance and operational efficiency.

Key Job Responsibilities

Ensuring target revenues from life insurance products is met

Ensure continuous increase wallet share of LI products by driving participation from

relationship managers, attending joint calls and providing support to the sales team

Create bundle offering comprising of different types of LI products to upscale the wallet

share for Bajaj Capital clients and envisage product ideas based on analytics and market

opportunities

Increase the LI revenue generated through solutions by understanding the client preferences

and creating bundle offerings that will compliment sales of various types of LI products in the

bundle

Drive and increase LI revenues through negotiating for higher margins by increasing the bps

per LI product from product manufacturers and negotiate with insurance companies for best

policy terms and conditions

Increase LI revenues by increasing margins from clients across LI offerings through

solutions and inclusion of higher margin products from the approved product offering list

Ensure revenue realisation for all transactions by following up with the product

manufacturers and the clients

Establishing products communication framework for internal teams and clients

Drive business by drafting and launching contest on a regular basis

Working closely with the digital team in co creating the online communication and platform

development to showcase the product offerings

Lead and participate in trainings for the sales team

Provide adequate coaching support and collaterals for resolution of LI queries and for

refresher courses to train new joiners and material for online courses

Liaison with product manufacturers to conduct and implement product trainings and updates

for the sales team

Drive sales participation in the organisation by providing training and support to the sales

team

Mentor Life Insurance team for any query resolutions in day to day operations

Develop team members and foster their professional growth on an ongoing basis through

effective and regular formal and informal coaching

Ensure the right culture and work atmosphere is maintained within the unit along with focus

on employee and assets safety

Develop and maintain collaborative partnerships with functional and client facing business

units other products team, Finance, Legal, Compliance, Operations and Marketing

Knowledge, Skills & Attributes

Knowledge

Technical knowledge of general insurance instruments, products and solutions; be abreast with

market trends and work with both internal and external stakeholders and industry experts to

proactively build capability

Ability to conduct financial, product portfolio, market and competitive analyses; experience in

identifying relevant sources of data and collecting such data from public and private sources

Extensive knowledge of financial markets/instruments/regulations, economic theories and

relationships

Skills

Functional

Communication Skills: Excellent communication and interpersonal skills, includes resolving of

complex queries in a concise and compelling fashion. Comfort creating and delivering presentations

to varying audiences, including clients, business partners, and senior executives

Business oriented: understanding of overall FI operations and contribute towards accuracy and

automation. Ability to drive resolution while building consensus across multiple functions.

People Management: strong influencing and relationship building skills and people management

skills. Highly motivated and responsible team player and leader, able to perform in dynamic, fast

paced environment

Professional

Executing with Excellence

Maintains a clear understanding of process and quality standards

Ensure adherence of the process basis agreed benchmark

Identify industry best practices and improve process and quality standards

Leading Self

Knows when to depart from traditional methods or behaviour for accomplishment of organization

goals

Is approachable and accessible and listen with an open mind

Creates a win-win situation and demonstrates assertive behaviour

Strategic Thinking

Proactively analyse numbers, market trends and people metrics qualitatively and quantitatively and

presents business solutions

Develops understanding and cascades the bigger picture towards achieving business goals to

individuals

Build support and foster open dialogue of differing views within the teams

Demonstrates patience and does not rush to conclusions and judgements

Attributes / Core Behaviours

Entrepreneurial & Ethical

Clearly communicate job expectations and set measureable goals and objectives for individual team

member

Treats all team members with respect and fairness

Improve employee retention through people management

Optimizes performance through regular 1-2-1 reviews

Nurturing

Coach and mentor team members to achieve desired goals

Congratulates and praises team members for good performance & behavior

Participates, supports and guides team members through IDP and career development conversations

Promotes and drives a learning culture for individual growth and development

Responsibility

Always operates proactively to identify challenges within and outside team to maximize performance

efficiency

Takes complete accountability of team performance and people experience

Take ownership and accountability of people development and growth

Innovation

Shares and receives feedback from the team on ongoing key projects

Constantly share best practices and articles from other industries and competitors for team personal

development

Collaborate

Develops the team and encourage them to bring out the best in them

Celebrates the success of team members

Provide opportunities for cross training to develop creative approach to problem solving

Happy Clients

Always provide need-based solutions to clients

Keep my client in loop in small success and keep them informed in case of any foreseen or

unforeseen failures

Education

Essential Desirable

Education MBA in insurance NA

Qualifications Certification in Insurance

100 hours training IRDA/broking

license

III - associate level

NA

Internal External

Experience 6 years - 8Years

CTC- 12 LPA- 15 LPA

Interested Candidate can mail there resume to

Debashishm@bajajcapital.com