PHI - Manager- Product Management

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Prudential Health India isa Zero to One team undertaking a no-legacy, greenfield health insurance deployment in India, building journeys that truly empathize with the customer and offer a differentiatedexperience.  

To partnerwithus in this mission, we are looking for a talentedManager – Product Managementto join ourProduct & Propositions teamin Mumbai. 

We are looking for exceptional talentwithapassion for transformingthehealth insurance experience in India.If you have adeep and thorough understanding of the current state of the industry anda clear vision of what a transformed future couldbelike, for the scope detailed in thisjobdescription, we are eager to speak with you! 

AsaProduct Manager, your typical week will include the following...  

• Create,launch,and refinehealthinsurancepropositions thatserve customer needs, improvesaleability,and manage risk for the organisation. 

• Ownthe full product lifecycle ofHealth InsuranceproductsincludingRetail Indemnity, Fixed benefit(Retail under Group and Standalone Retail) and Group (Employer-Employee) products. 

• Conduct detaileddistributor, customerandmarket research andcompetitive analysistoidentify new product opportunities and refine existing offerings. 

• Developcompelling, differentiatedproduct propositionsfortarget customer/ sellersegments that deliver revenue and loss-ratio goals. 

• Define and documentdetailed product requirements (constructs), including features, functionalities, pricing, and distribution channels. 

• Developpolicy wordings andproduct filing documents, customer & sales collateralsthat address all regulatory requirementswhile communicating the proposition with impact.Managetimely resolution of all regulatory queries in collaboration with relevant functions, asrequired. 

• Lead development and execution ofgo-to-market plans, including marketing campaigns, sales training, and channel partner enablement. 

• Collaborate with cross-functional teamsspanningactuarial, distribution,health management,marketing, underwriting, claims,customer servicing, andtechnology toimplementand launch products. 

• Define and documentsystem requirements for products, ensuring seamless integration with internal and external systems and user journeys.  

• Ensurecompliance with all relevant regulations andcompany policies. 

• Analyse product performance data togenerate data-led insights andidentifyareas for improvement. 

• Identify and implement product enhancements and innovations tomaintain a competitive advantage;Conduct regular product reviews andmanagenecessary adjustments tofeature basket,pricing, and distributionstrategy. 

• Conduct internal and external product validations, including feasibility studies, cost-benefit analyses, and customer feedback sessions.  

• Develop and implement effective channel and segment strategies to maximize product reach and penetration within the bank channel. 
   

You could be the right candidate if you have 

• Degree inBusiness, Finance, Insurance, Statistics or Cleared Actuarial Papers or related field or a related field. AMaster of Business Administration from a reputed institute is desirable.  

• 7+ years of experience in product management, preferably in the health insurance industry withat least 3years of experience in a stand-alone health insurer 

• Minimum of 5 years of experience in handling Retail and Retail Under Group products within the General /Health insurance industry with hands-on experience in Quotation Management 

• Excellent knowledge of Product configuration in core systems andfront-end sales platforms 

• Strong understanding of the health insurance market, including industry trends, regulations, and competitive landscape. 

• Proven experience in developing and launching successful health insurance products. 

• Thrive in engaging and partnering with distribution teams and agent advisors toachieve salesoutcomes. 

• Excellent analytical, problem-solving, and decision-making skills. 

• Effective communication, presentation, and interpersonal skills. 

• Ability to work independently and as part of a cross-functional team. 

• Proficiency in data analysis and financial modelling.  

This could be the gig for you if you… 

• Have built best-in-class processes fromscratch. 

• Are passionate aboutleveraging digital tools to transform customerexperience.   

• Are passionate about consumerbehaviour and culture; enjoy spending time with customers to understand what theyreally need. Have an attentive ear to listen tonew ideas.  

• Join hands with other colleagues to solve for the customer. 

• Like to work in a culture where everyone can see what others are doing.  

• Take help from others when stuck and encourage others when there are setbacks. 

• Take full responsibility for your team’s contribution output while thinking wing-to-wing across the organization. 

Location: Mumbai 

Position: Manager – Product Management  

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people withindividual physical or mental health requirements.