Product Head – Pharma & Life Sciences

Function Purpose To lead and grow the Pharma & Life Sciences Insurance Practice by guiding & advising specialized insurance and risk management solutions for pharmaceutical, biotechnology, healthcare, and life sciences organizations, while driving business growth and providing expert risk advisory services.

Role Purpose The Product Head – Pharma & Life Sciences will be responsible for establishing and leading the Pharma Insurance Practice at ARIBL. The role involves designing innovative insurance solutions for pharmaceutical manufacturers, biotechnology companies, API manufacturers, contract research organizations (CROs), contract development and manufacturing organizations (CDMOs), hospitals, medical device manufacturers, and healthcare companies. The incumbent will collaborate with clients, insurers, reinsurers, regulatory bodies, and internal teams to provide comprehensive risk management solutions while expanding ARIBL's presence in the pharmaceutical and healthcare sectors.

Key Expectations of the Role

Product Strategy & Development

- Develop and implement the insurance product strategy for the Pharma & Life Sciences sector.
- Design customized insurance solutions covering manufacturing, research, distribution, and healthcare operations.
- Identify emerging risks, regulatory changes, and industry trends affecting pharmaceutical businesses.
- Develop specialized insurance programs for pharmaceutical manufacturers, biotechnology companies, hospitals, medical device companies, and healthcare institutions.

Business Development

- Drive new business acquisition within the pharmaceutical, biotechnology, healthcare, and life sciences sectors.
- Partner with Corporate Sales teams during client meetings, presentations, and proposal discussions.
- Build long-term relationships with CXOs, Risk Managers, Plant Heads, Manufacturing Heads, CFOs, Legal Teams, and Compliance Officers.
- Achieve annual premium, revenue, and profitability targets.

Technical Risk Advisory

- Provide technical guidance on pharmaceutical and healthcare-related insurance risks.
- Review manufacturing operations, research facilities, laboratories, warehousing, and supply chain risks.




- Recommend appropriate insurance coverage for manufacturing plants, clinical trials, product liability, environmental exposures, and cyber risks.
- Support underwriting and placement of large and complex insurance programs.

Insurer & Reinsurer Relationship Management

- Develop strategic relationships with domestic and international insurers and reinsurers.
- Negotiate competitive policy terms, coverage enhancements, and pricing.
- Coordinate with underwriting teams to structure comprehensive insurance solutions.

Claims Advisory

- Assist clients during major property, product liability, recall, transit, and clinical trial claims.
- Coordinate with insurers, surveyors, legal experts, and claims teams.
- Ensure efficient and timely claim settlements.

Market Intelligence

- Monitor pharmaceutical regulations, CDSCO guidelines, GMP standards, healthcare compliance, and insurance market developments.
- Benchmark insurance products against industry best practices.
- Identify opportunities for new product development and service enhancements.

Team Leadership

- Lead and mentor the Pharma & Life Sciences Product Team.
- Conduct technical training for Sales, Placement, Claims, and Servicing teams.
- Develop standard operating procedures (SOPs), technical manuals, and product documentation.

Stakeholder Management

- Collaborate with Sales, Claims, Placement, Legal, Compliance, Risk Engineering, and Operations teams.
- Maintain strong relationships with pharmaceutical companies, healthcare organizations, consultants, insurers, regulators, and industry associations.

Competencies Required for the Role

- Technical Knowledge: Deep understanding of EB (Health, Life, PA) and Non-EB (Property, Marine, Engineering, Liability, etc.) insurance products, underwriting principles, and market dynamics.
- Negotiation & Influencing:



Strong negotiation skills to secure favourable terms and manage complex discussions with senior insurer representatives.
- Strategic Thinking: Ability to align placement strategies with business growth objectives and changing market trends.
- Relationship Management: Proven ability to build and sustain high-value relationships with insurers, underwriters, and internal stakeholders.
- Leadership & Team Management: Capable of leading a diverse team, setting performance standards, and developing talent.
- Analytical & Decision-Making Skills: Strong analytical ability to interpret data, assess risk profiles, and recommend optimal placement structures.
- Compliance & Governance Orientation: Thorough understanding of regulatory frameworks (IRDAI guidelines) and adherence to compliance norms.
- Communication Skills: Excellent verbal and written communication skills for effective engagement with clients, insurers, and internal teams.

Personal Qualifications

Highest Qualification Preferred

- Bachelor's Degree in Pharmacy (B.Pharm) , Master of Pharmacy (M.Pharm) , Biotechnology , Life Sciences , Chemical Engineering , or a related discipline.
- MBA (Marketing/Operations/Healthcare Management/Finance) from a reputed institute.

Preferred Certifications

- IRDAI Certification
- Associate/Fellow of Insurance Institute of India (III)
- Risk Management Certifications
- Healthcare or Pharmaceutical Industry Certifications (preferred)

Experience

- 15–20+ years of overall professional experience.
- Minimum 10 years of experience in Insurance Broking, General Insurance, Pharmaceutical, Biotechnology, Healthcare, or Risk Advisory.
- Minimum 5 years in a Product Head, Practice Head, or Leadership role.
- Proven experience in designing and managing insurance programs for pharmaceutical manufacturers, biotechnology companies, API manufacturers, CROs, CDMOs, hospitals, healthcare providers, or medical device companies.
- Strong expertise in Product Liability, Clinical Trial Insurance, Product Recall, Property Insurance, Business Interruption, Cyber Risk, Marine Cargo, Environmental Liability, and Employee Perks.

📌 Product Specialist - Pharma & Life Sciences (Mumbai)
🏢 Anand Rathi Insurance Brokers
📍 Mumbai