01Overview
Prudentials purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our peoples career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
Prudential Health India is a Zero to One team undertaking a no-legacy, greenfield health insurance deployment in India, building journeys that truly empathize with the customer and offer a differentiatedexperience.
To partner with us in this mission, we are looking for a talentedManager Product Management to join our Product & Propositions team in Mumbai.
We are looking for exceptional talent with a passion for transforming the health insurance experience in India. If you have a deep and thorough understanding of the current state of the industry and a clear vision of what a transformed future could be like, for the scope detailed in this job description, we are eager to speak with you!
As a Product Manager, your typical week will include the following.
- Create, launch,and refine health insurance propositions that serve customer needs, improve saleability,and manage risk for the organisation.
- Own the full product lifecycle of Health Insurance products including Retail Indemnity, Fixed benefit (Retail under Group and Standalone Retail) and Group (Employer-Employee) products.
- Conduct detailed distributor, customer and market research and competitive analysis to identify recent product opportunities and refine existing offerings.
- Develop compelling, differentiated product propositions for target customer/ seller segments that deliver revenue and loss-ratio goals.
- Define and document detailed product requirements (constructs) , including features, functionalities, pricing, and distribution channels.
- Develop policy wordings and product filing documents , customer & sales collaterals that address all regulatory requirements while communicating the proposition with impact.Manage timely resolution of all regulatory queries in collaboration with relevant functions, as required.
- Lead development and execution of go-to-market plans , including marketing campaigns, sales training, and channel partner enablement.
- Collaborate with cross-functional teams spanning actuarial, distribution, health management, marketing, underwriting, claims, customer servicing, and technology to implement and launch products .
- Define and document system requirements for products , ensuring seamless integration with internal and external systems and user journeys.
- Ensure compliance with all relevant regulations and company policies.
- Analyse product performance data to generate data-led insights and identifyareas for improvement.
- Identify and implement product enhancements and innovations to maintain a competitive advantage; Conduct regular product reviews and manage necessary adjustments to feature basket, pricing, and distribution strategy.
- Conduct internal and external product validations, including feasibility studies, cost-benefit analyses, and customer feedback sessions.
- Develop and implement effective channel and segment strategies to maximize product reach and penetration within the bank channel.
You could be the right candidate if you have
- Degree in Business, Finance, Insurance, Statistics or Cleared Actuarial Papers or related field or a related field. A Master of Business Administration from a reputed institute is desirable.
- 7+ years of experience in product management, preferably in the health insurance industry with at least 3 years of experience in a stand-alone health insurer
- Minimum of 5 years of experience in handling Retail and Retail Under Group products within the General /Health insurance industry with hands-on experience in Quotation Management
- Excellent knowledge of Product configuration in core systems and front-end sales platforms
- Strong understanding of the health insurance market, including industry trends, regulations, and competitive landscape.
- Proven experience in developing and launching successful health insurance products.
- Thrive in engaging and partnering with distribution teams and agent advisors to achieve sales outcomes.
- Excellent analytical, problem-solving, and decision-making skills.
- Effective communication, presentation, and interpersonal skills.
- Ability to work independently and as part of a cross-functional team.
- Proficiency in data analysis and financial modelling.
This could be the gig for you if you
- Have built best-in-class processes from scratch.
- Are passionate about leveraging digital tools to transform customer experience.
- Are passionate about consumer behaviour and culture; enjoy spending time with .
