Assistant Vice President (AVP) - Products - Gurugram

Job Summary:

The AVP Products is responsible for the end-to-end lifecycle of life insurance products, from conceptualization to launch and ongoing performance management. The role involves market research, regulatory compliance, innovation, pricing strategies, and stakeholder coordination to develop competitive and customer-centric insurance solutions.

Key Responsibilities:

1. Product Strategy & Development

• Develop and execute a product roadmap aligned with business objectives and market trends
• Conduct market research, competitor analysis, and customer insights to identify new product opportunities
• Design innovative life insurance products catering to diverse customer segments
• Ensure new product propositions align with company strategy, customer needs, and regulatory requirements.

2. Regulatory Compliance & IRDAI Approvals

• Work closely with regulatory teams to ensure compliance with IRDAI guidelines
• Prepare product filing documents, actuarial reports, and regulatory submissions
• Liaise with IRDAI and other authorities for product approvals and modifications

3. Cross-Functional Collaboration & Stakeholder Management

• Collaborate with actuarial and finance teams to determine competitive pricing strategies
• Monitor product profitability and recommend refinements to optimize business performance
• Coordinate with underwriting, claims, distribution, IT, and digital teams for seamless product implementation
• Partner with technology teams to drive digital product innovations and insuretech integrations
• Engage with reinsurers for product structuring, risk-sharing agreements, and pricing negotiations

4. Go-to-Market (GTM) Strategy & Product Performance Management

• Define product positioning, value propositions, and differentiation strategies
• Work with marketing and distribution teams to develop sales tools, training materials, and promotional campaigns
• Oversee product launches, ensuring alignment with branding, sales, and customer education strategies
• Monitor product performance metrics, customer feedback, and market response
• Analyze claims experience, persistency trends, and distribution effectiveness
• Recommend enhancements or discontinuation of underperforming products

Key Requirements:

Education & Experience:

• Bachelor’s/Master’s degree in Business, Actuarial Science, Finance, Insurance, or related fields
• 10+ years of experience in life insurance, with at least 3-5 years in product development or actuarial roles
• Strong knowledge of IRDAI regulations, product approval processes, and life insurance market dynamics

Skills & Competencies:

• Expertise in insurance product design, pricing, and profitability management
• Strong analytical and problem-solving skills with a data-driven approach
• Excellent stakeholder management, communication, and leadership abilities
• Familiarity with digital insurance trends, insuretech solutions, and emerging product innovations