PolicyBazaar - Business Development Lead - Health Insurance

About the Company:
PolicyBazaar.com is India's leading digital insurance marketplace and one of the most valuable insur-tech companies globally. We started our journey in 2008; in 2018 we became just the third Unicorn in India and went public in 2021. Policybazaar is at heart a data and technology company that has revolutionized the insurance market in India. We deploy cutting edge technology, use advanced data analytics and leverage AI/ML to offer customer centric products, optimized customer journeys, and ensure superior customer experience across the insurance value chain. We have had a major influence on how protection insurance products are bought in the country and are responsible for sourcing a significant portion of the market in Term and Health insurance. In FY25, we sourced over 23.5K Crores of Premium and have been growing at ~44% CAGR for the last five years. We have 10cr+ registered users and have provided insurance to 2cr+ people. We have an industry leading 93% market share of the online aggregator market. Brands under the PB Fintech Umbrella: Paisabazaar.com, Policybazaar For Business, PB Partners, Policybazaar Dubai, PB Pay, Docprime. Visit policybazaar.com to know more about us.
About the Role:
We are looking for a dynamic and commercially driven Business Development professional to lead business growth for a key segment within our Health Insurance business. The role will be responsible for developing and executing the business strategy for the segment, driving revenue and profitability, building strategic partnerships, and creating scalable distribution opportunities. The individual will work closely with senior leadership and cross-functional teams across Product, Operations, Marketing, Technology and Insurer Partnerships to build and scale the business.
Key Responsibilities:
- Own the business development strategy and growth charter for the assigned Health Insurance segment.
- Drive revenue, business volumes, profitability and overall commercial performance for the segment.
- Identify and build new distribution channels, strategic partnerships and business opportunities to accelerate growth.
- Develop and manage relationships with key external stakeholders, partners, insurers and business alliances.
- Lead negotiations and commercial discussions with strategic partners to create mutually beneficial business models.
- Identify market trends, customer needs and competitive opportunities and translate them into actionable business strategies.
- Work closely with Product, Technology, Marketing, Operations and other stakeholders to build and scale new initiatives.
- Drive the launch and execution of new business initiatives from strategy to implementation.
- Build strong governance around business performance, tracking key metrics and identifying opportunities for improvement.
- Lead, mentor and develop a high-performing business development team.
- Work closely with senior leadership on business planning, growth strategy and long-term expansion opportunities.
- Continuously evaluate the portfolio, identify growth levers and improve unit economics and profitability.
What Were Looking For:
- 5+ years of experience in Business Development, Sales, Partnerships, Strategy & Business Operations or a related function.
- Strong experience in BFSI, preferably with exposure to distribution-led businesses.
- Proven track record of building and scaling businesses, driving revenue and managing strategic partnerships.
- Strong commercial acumen with an understanding of P&L, revenue levers and business economics.
- Experience managing senior external stakeholders and negotiating large/strategic partnerships.
- Strong strategic thinking combined with the ability to drive execution on the ground.
- Experience leading and developing large/high-performing teams.
- Excellent communication, stakeholder management and negotiation skills.
- Ability to operate effectively in a fast-paced, high-growth environment with significant ownership and ambiguity.