PNB Metlife - Assistant General Manager - Products

Context & Role:

• Founded in 2001, PNB MetLife (PMLI) brings together the financial strength of a leading global life insurance provider, MetLife Inc., and the credibility and reliability of Punjab National Bank, one of India's oldest and leading nationalised banks. Both the heritage brands are the two largest shareholders making PNB MetLife a strong and trusted life insurance provider in India.

• PMLI has a multi-channel distribution - through Bancassurance tie-ups with PNB, Jammu & Kashmir Bank, Karnataka Bank and others, PMLI is present pan India. PMLI also has strong Agency and Direct Sales force which contribute significant new business premium. PMLI has been growing from strength-to-strength and now features among the elite Top 10 Private Life Insurers in India.
• The incumbent in this role shall be responsible for End-to-end management of the product development and launch activities for assigned product / product group and shall assist in driving approvals and governance process for launch as per agreed product calendar.
• Ensure that all operations and activities undertaken comply with compliance & regulatory requirements and Company's direction
• On an ongoing basis, needs to track & publish competition information and manage cross-functional coordination for new product development processes.
• The person in this role needs to work in close partnership with sales, investments, marketing, training, underwriting, claims and other support functions to ensure achievement of desired objectives.

Key Responsibilities:

• Product specialist for retirement products including annuities. Lead the development and launch for assigned products to deliver in line with business requirements within the approved launch calendar.
• Competition tracking for new product launches or any other signature moves, gap analysis, new product development, filing and launch as required. Extensive interactions with sales teams and distributors to receive their feedback, inputs and ideas and to funnel them into appropriate actions. Monitor and initiate product revisions to products in the context of market, regulations, and channel requirements.
• Develop appropriate sales pitches, competition product analysis and counter pitches for sales teams, internal marketing campaigns etc. Work closely with training teams to cascade product messaging and any new pitches.
• Work with Ops, IT and Underwriting teams to ensure appropriate on-boarding processes are implemented

Desired Qualifications and experience:

• Graduate or Post-Graduate with Prior experience of working in a similar set-up in another Life insurance company.

Knowledge and Skills required:

• Knowledge of Life insurance product life cycle: Ideation to launch of New Product, Apt on preparing presentations, Ops processes & Distribution dynamics.
• Subject matter expertise on Pension and Annuity products, regulations thereof (PFRDA and IRDAI), NPS and QROPS. Overall uunderstanding of life insurance business drivers, like sales, margins persistency etc.
• Entrepreneurial spirit, Strong written and verbal communication, Analytical, creative, and innovative approach to solving problems
• Stakeholder management/Ability to interact and communicate well with the senior leadership team of the company. Ability to interact with channel heads and other function heads.
• Ability to influence and get work done from cross functional teams (not directly reporting)
• Coach, mentor and develop direct reports