Product Head – NBFC (Non-Banking Financial Companies)

Function Purpose To lead and grow the NBFC Insurance Practice by guiding & advising specialized insurance and risk management solutions for Non-Banking Financial Companies, supporting business development, and providing expert risk advisory services to drive sustainable and profitable growth.

Role Purpose The Product Head – NBFC will be responsible for establishing and leading the NBFC Insurance Practice at ARIBL. The role involves developing insurance products and risk management solutions for Non-Banking Financial Companies (NBFCs), Housing Finance Companies (HFCs), Microfinance Institutions (MFIs), FinTechs, Gold Loan Companies, Vehicle Finance Companies, SME Lending Institutions, and other financial institutions. The incumbent will work closely with clients, insurers, reinsurers, lenders, and internal business teams to provide industry-leading insurance solutions while driving revenue growth and strengthening ARIBL's market position in the financial services sector.

Key Expectations of the Role

Product Strategy & Development

- Develop and execute the insurance product strategy for the NBFC sector.
- Design customized insurance solutions addressing the unique risks of financial institutions.
- Identify emerging risks, market trends, and regulatory developments impacting NBFCs.
- Launch innovative insurance programs aligned with evolving customer and industry requirements.

Business Development

- Drive new business acquisition within the NBFC, HFC, MFI, FinTech, and lending ecosystem.
- Partner with Corporate Sales teams during client meetings, presentations, and proposal discussions.
- Build long-term relationships with CXOs, Risk Heads, CFOs, Treasury Heads, and Compliance Teams.
- Achieve annual premium, revenue, and profitability targets.

Technical Risk Advisory

- Provide technical expertise on insurance structuring and risk mitigation.
- Advise clients on appropriate insurance coverage for financial and operational risks.




- Review lending portfolios and recommend suitable insurance protection.
- Assist in structuring large and complex insurance placements.

Insurer & Reinsurer Relationship Management

- Build strategic relationships with domestic and international insurers and reinsurers.
- Negotiate competitive pricing, policy wordings, and coverage enhancements.
- Coordinate with underwriting teams to secure customized insurance solutions.

Claims Advisory

- Guide clients during major claims and policy disputes.
- Coordinate with insurers, surveyors, legal teams, and claims specialists.
- Ensure timely and effective claims settlement.

Market Intelligence

- Monitor RBI guidelines, financial sector regulations, and insurance market developments.
- Benchmark products against industry best practices.
- Recommend new product opportunities based on market demand.

Team Leadership

- Lead and mentor the Financial Institutions Product Team.
- Conduct technical training programs for sales, placement, and servicing teams.
- Establish best practices, SOPs, and technical documentation.

Stakeholder Management

- Collaborate with Sales, Claims, Placement, Legal, Compliance, and Operations teams.
- Build relationships with financial institutions, lenders, consultants, regulators, and insurance partners.

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 favorable 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

- MBA (Finance/Banking/Insurance) from a reputed institute.
- Chartered Accountant (CA)
- CFA / FRM / Master's Degree in Finance or Risk Management.

Preferred Certifications

- IRDAI Certification
- Associate/Fellow of Insurance Institute of India (III)
- Financial Risk Management (FRM)
- Certified Risk Management Skilled (preferred)

Experience

- 15–20+ years of overall professional experience.
- Minimum 10 years of experience in Insurance Broking, General Insurance, Banking, NBFC, Financial Institutions, or Risk Advisory.
- Minimum 5 years in a Product Head, Vertical Head, or Leadership role.
- Proven experience in designing and managing insurance programs for NBFCs, Housing Finance Companies, Microfinance Institutions, FinTechs, Vehicle Finance Companies, Gold Loan Companies, SME Lending Institutions, or other financial institutions.
- Strong exposure to Financial Lines Insurance, Liability Insurance, Cyber Risk, Crime Insurance, Property Insurance, and Employee Benefits.

📌 Product Specialist - NBFC (Mumbai)
🏢 Anand Rathi Insurance Brokers
📍 Mumbai