Associate Vice President

Lead end-to-end product conceptualization based on market trends, customer needs, competitor analysis, and regulatory outlook.

Conduct primary and secondary research to identify gaps in the existing product portfolio and assess demand for new offerings

Work closely with sales (including banca, broking, web aggregators and individual agent), marketing, training, actuarial, underwriting and analytics teams to identify opportunities for differentiated and customer-centric products.

Evaluate product ideas i.e. profitability, persistency and claims outlook.

Bring innovation in Product Development i.e. Industry First or Company first design to bring disruption in the market and gain mind share of Intermediary, Partner and Agents

Define product structure, including benefits, riders, premium payment terms, sum assured options, and bonus mechanisms (for participating products).

Collaborate with actuarial teams to design robust pricing strategies aligned with IRDAI’s guidelines and company’s risk appetite.

Ensure product design supports long-term view

Oversee pricing frameworks for different channels to see Margins/ OPAT

Align with operations, underwriting, claims, legal, IT, and servicing teams to ensure readiness for product implementation.

Manage approval workflows, meeting documentation standards set by the company’s Product Governance Framework.

Ensure that the product complies with IRDAI (Life Insurance) Regulations, 2024, and subsequent circulars/guidelines.

Liaise with IRDAI throughout the filing process — respond to queries, submit clarifications, and ensure prompt turnaround.

Maintain records of regulatory communication and track approval timelines to ensure on-time product launches.

Develop training content, FAQs, brochures, and sales tools for internal and external distribution teams.

Coordinate User Acceptance Testing (UAT) for system readiness

Ensure integration with digital platforms and APIs for smooth onboarding and servicing workflows.

Define and implement Product Launch Calendar, in sync with marketing, sales, and training departments.

Conduct PMC and obtain necessary approvals

Effective go to market planning with Sales, Marketing, Training and other stakeholders

Collaborate with bancassurance, broking, agency, direct sales and digital teams to execute scalable sales strategies.

Drive channel performance via analytic input and benchmarking

Drive multi-channel product roll-out through agency, bancassurance, digital, and third-party partnerships.

Conduct Post-Launch Review within 30 to 90 days to assess product success.

Recommend tweaks or future product variants based on actual data and market feedback.

Continuously track changes in IRDAI regulations and align future filings accordingly.

Ensure product compliance audits and internal risk assessments are performed periodically.

Coordinate with legal/compliance for customer grievances or regulatory escalations related to the product.

Present insights, business plans, and performance metrics to senior leadership and board.

Strong market intelligence and understanding of competition landscape and share valuable insight to plan strategies

Lead a team of product managers, Mentor, supervise and coach the team. Provide for on the job as well as classroom training for skill enhancement and ensure periodic work rotation.

Manage relationships with internal stakeholder for constant process improvements.