Kotak Life Insurance - Vice President/Head - Product Channel Management - IIM/ISB/MDI/FMS (15-25 yrs)

Designation:- Vice President

Grade:- L7A

Department:- Product

Job Description:

Key Responsibilities:

- Channel Management (60%)

- Work cohesively with the channel head (s), and be a single point of contact for executing all product related strategies for the channel:

- Devise the product strategy for the channel in the current business / competitive environment.

- Manage Product / Variant mix at a channel level by identifying and influencing on the sales levers.

- Driving VnB for the channel through specific products/variant mix management (co-own with the Channel Heads).

- Work with Product Communication & BIG team to create sales concepts and selling stories basis feedback from field.

- Product drive to push for "profitable growth" in various seller segments.

- Co-create product related marketing, training, and / or other required interventions to impact business.

- Represent product team in all national/ Zonal channel feedback.

- Process and execution ownership.

- Anchor Product Advisory Council (PAC) conversations and Ears to Ground feedback for allocated Products, Processes.

- Present the findings in all high stake forums like DEC, EC etc.

- Work with various stakeholders to help close the identified issues/ work on the new opportunities.

- Market Intelligence & Competition analysis (30%).

- Competition benchmarking & cracks for impactful product launches.

- Market Intelligence on Competition Product Strategies, Product Mix, Product & Category specific actions & thinking.

- Competitive benchmarking on sales weightages, contests etc. vis a vis KLI.

- People management & capability building (10%).

- Coach and mentor team/s for Business and Channel dynamic understanding.

Measure of Success:

- New Product launch MoS (30/60/90 days) in terms of New Product uptake.

- Impactful Product launches (collaborating with various internal stakeholders).

- Co-own the VNB Plan achievement across channels.

- New quarterly Interventions (1 or 2) basis Market Intel and Seller feedback in line with the strategic priorities (SPIDER) e.g. Rider and Protection penetration, Combos, Product diversification Agent wise etc. etc.

Education & Experience: Minimum 15 years' experience in Life Insurance.

- Post Grad from a premiere B School

- Insurance/Financial Certifications (LOMA, CFP, III etc etc.)

Skills / experience required: Strong background on Life Insurance Products (Insurance)

- Excellent Storyboarding, Executive Presence.

- Sharp analytical orientation.

- Understanding of Regulatory landscape (Products and Distribution).

- Strong Product understanding of categories and understanding of Financials (channel cost).

Key Stakeholders:

- Channel Heads and DRs.

- Actuary (Reporting team).

- UW, NB and Operations Team.

- Marketing, Training Head.