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Role Title: Product Management Senior Manager

Job PurposeThe role is responsible for ideating, developing, filing, launching, and managing life insurance products aligned with the company's business objectives and market requirements.The incumbent will analyze business opportunities, customer needs, competition, channel requirements, and industry trends to develop competitive product propositions. The role will involve extensive collaboration with Actuarial, Finance, Compliance, Legal, Marketing, Sales, Training, IT, and Investment teams to ensure timely product development, regulatory approvals, implementation, and successful market launch.

Roles & Responsibilities / Principal Accountabilities:

A. Product Strategy, Planning & Development

- Lead the planning, design, development, and execution of the company's product strategy and product calendar.
- Identify opportunities for new product development and enhancement of existing products based on market trends, customer needs, business priorities, and channel requirements.
- Develop product concepts and prepare comprehensive business cases, including product rationale, target segment, competitive positioning, customer proposition, and expected business impact.
- Conduct consumer, competitor, industry, and market research to identify emerging trends and product opportunities.
- Work closely with Sales, Actuarial, Finance, Marketing, and other stakeholders to validate product concepts and ensure alignment with business objectives.
- Define product propositions and positioning for different distribution channels and customer segments.
- Track product performance and recommend modifications or interventions based on market and business performance.

B. Product Development, Filing & Implementation

- Drive the complete product development lifecycle from ideation through regulatory filing, approval, implementation, and launch.
- Coordinate with Actuarial, Legal, Compliance, Finance, Operations, IT, and other functions to ensure timely completion of product development activities.
- Prepare and/or coordinate product filing documents, product specifications, benefit structures, terms and conditions, and supporting documentation.
- Ensure accuracy, completeness, and timely submission of product-related documents and approvals.
- Establish best-practice standards, process maps, SOPs, and governance mechanisms for product development and implementation.




- Identify process gaps and continuously improve product development and implementation processes to enable faster and more productive launches.
- Ensure adherence to applicable regulatory requirements, internal policies, and governance standards throughout the product lifecycle.
- Track dependencies and proactively resolve issues that may impact product launch timelines.

C. Product Launch & Sales Enablement

- Develop compelling sales stories, product pitches, value propositions, FAQs, product notes, and communication material to support product launches.
- Work closely with Marketing and Training teams to develop product communication and training strategies.
- Partner with regional and channel sales teams to understand market requirements and develop effective product communication plans.
- Conduct product workshops, training sessions, and knowledge-sharing sessions for sales and distribution teams.
- Provide product-related inputs and support to sales teams during product launches and subsequent market adoption.
- Ensure that product communication is accurate, customer-centric, compliant, and aligned with the approved product proposition.

D. Market, Competition & Business Analysis

- Conduct regular competitor and market intelligence exercises across products, channels, and partners.
- Track competitor product launches, pricing, benefits, positioning, distribution strategies, and customer propositions.
- Conduct gap analysis across different channels/partners and identify opportunities for product differentiation.
- Analyze business performance and recommend appropriate product or proposition-level interventions.
- Gather and analyze feedback from customers, sales teams, partners, and other stakeholders to identify product improvement opportunities.
- Use market insights and data to support product strategy and management decisions.

E. Governance, Reviews & Stakeholder Management

- Ensure adherence to defined product governance frameworks and approval processes.
- Ensure all product documentation and customer-facing communication undergo the required reviews and approvals.
- Prepare product updates, dashboards, MIS, and management reports for senior leadership.
- Present product plans, market insights,



business cases, and product performance updates to senior stakeholders.
- Maintain effective documentation and audit trails across the product development and approval lifecycle.
- Ensure accurate and timely delivery of product-related outputs with appropriate stakeholder approvals.
- Collaborate with senior leadership and cross-functional teams to resolve critical product-related issues.

F. Cross-Functional Collaboration

- Act as a key interface between Product Management and Sales, Actuarial, Finance, Marketing, Training, Legal, Compliance, IT, Operations, and Investment teams.
- Drive cross-functional projects and ensure deliverables are completed within agreed timelines.
- Effectively manage multiple stakeholders and competing priorities.
- Establish clear timelines, ownership, dependencies, and escalation mechanisms for product initiatives.

Key Skills & Knowledge Required:

Functional / Technical Skills

- Strong understanding of Life Insurance products and product development lifecycle.
- Hands-on experience in product ideation, design, development, filing, launch, and product management.
- Strong understanding of life insurance regulatory and compliance frameworks.
- Knowledge of product structures, benefits, pricing concepts, customer propositions, and distribution models.
- Strong market and competitor analysis capabilities.
- Ability to develop business cases and evaluate product opportunities.
- Strong understanding of product governance and approval processes.
- Ability to translate customer and market insights into actionable product propositions.
- Strong understanding of sales enablement and product communication.
- Proficiency in MS Excel, MS PowerPoint, and MS Word.
- Strong analytical and data interpretation skills.

Educational Qualifications:

- Graduate degree in any relevant discipline.
- Post-Graduation / MBA preferred.

Experience Required:

- 5+ years of relevant experience in Life Insurance Product Development / Product Management.
- Experience across product ideation, development, regulatory filing, launch, and product management.
- Strong understanding of the life insurance industry and applicable regulatory framework.
- Experience working with multiple cross-functional stakeholders such as Actuarial, Sales, Finance, Compliance, Marketing, and Operations.
- Experience in competitor analysis, market research, and developing customer-centric product propositions will be preferred.

📌 Sr. Product Manager || Life Insurance MNC Company || Pune Location
🏢 Digital Aptech
📍 Pune