Deputy Vice President - Product Development

JOB SUMMARY Product Department is a strategic function responsible for new product development and management. The position will be a middle management resource in the function and will be primarily responsible for ideation, filing and launch of New Products in line with the overall product strategy. This role also requires to lead the Product thinking, senior stakeholder management with end to end ownership of product filing and launch. The incumbent will beempowered to lead all strategic product conversations. There would be 1 or 2 ProductManagers who would report directly into this role. KEY RESPONSIBILITIES A. New Product Development and Launch End to End product design, filing and launch of New Products/Riders/Solutions etc. as per the approved product calendar. Ownership of the Cross Functional Alignment, closures and execution plan for launching new products Integrated thinking with the aim to optimize the product launch with cross functional collaboration (between Training, Marketing, distribution). Innovative mindset to help identify opportunities for new products /smart hacks in existing products. Work on secondary and primary research for identifying new opportunities and present ideas in high stake forums. B. Market Intelligence & Competition analysis Product benchmarking, Market Intelligence on Competition Product Strategies, Product Mix, Product & Category specific actions & thinking. C. People management & capability building Coachand mentor team of product managers for new Product development and newcategory thinking Key competencies/skills required Strong background on Insurance Products Innovation mindset and new category thinking Excellent Storyboarding and presentation skills. Sharp analytical orientation Understanding of Regulatory landscape Experience Minimum 8 years experience in product development and management Post Grad from a premiere B School Past experience of LI New Product development (min 4-5 Yrs), Distribution and/or Strategy exposure in life insurance companies.