Job
Description
Prudential's 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 on the business. We support our people's career ambitions and 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 differentiated experience. To partner with us in this mission, we are looking for a talented Assistant Manager - 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 organization. - 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 new 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. - Lead development and execution of go-to-market plans, including marketing campaigns, sales training, and channel partner enablement. - Collaborate with cross-functional teams to implement and launch products. - Ensure compliance with all relevant regulations and company policies. - Analyse product performance data to generate data-led insights and identify areas for improvement. - Identify and implement product enhancements and innovations to maintain a competitive advantage. - 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 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.,
