Job Description

Product Channel Management is a strategic function with a Bird's eye view of all Growth and Profitability metrics. The position will be primarily responsible for Enabling Product Mix in a Bank Partnership Channel. Manage the bottom line metrics of life insurance products and ownership of ideation to launch of strategic Products aligned to respective Channel Head.

Position
PCM (Partnership Channel)
Function
Product Channel Management
Department
Product Management
Band
5B
Reporting to
AVP
Team size (D/I)
NA
Location
Gurgaon
JOB SUMMARY
Product Channel Management is a strategic function with a Bird's eye view of all Growth and Profitability metrics. The position will be primarily responsible for Enabling Product Mix in a Bank Partnership Channel. Manage the bottom line metrics of life insurance products and ownership of ideation to launch of strategic Products aligned to respective Channel Head.
The role requires an enterprising attitude, ability to influence and impact without direct authority and ability to hack growth along with distribution channel heads. The incumbent will be anchored with respective channel heads of Max Life and will be empowered resource to manage all Product Mix and Strategic Product conversations with assigned channel. The incumbent will along with the Lead PCM shall conduct all Product and Category conversations and closely work with channel enablement team to ensure end to end closures b/w Products, Distribution and FP&A
KEY RESPONSIBILITIES * Enabling Profitable Growth for the Distribution Channel (35%)

• Product mix ownership for each channel with sharp focus on profitable product variants
• Detailed understanding of various verticals within each channel, their drivers of business and guide team to create propositions for driving the product mix aligned to channel plan
• Strategic Interventions every Quarter on Product mix sensitization "WHY" and seed critical Product stories, including product experience discussions.
• Continuous analysis on Structural Profit variance for the channel and recommend strategies/tactics to course correct
• Present the propositions/storyboard in the quarterly/monthly webcasts conducted by respective channel head aligned to Product Mix strategy
• Market Intelligence and Competition benchmarking for key product launches
• Go to Market and Capability Enhancement of Ecosystem (35%)

• Curate Go to Market strategies (along with Marketing and Channel leader) for new products being launched in the channel (One Key launch per Quarter)
• Point of Contact for the Distribution Channel for all key New Product Closures and Business Case creation/sign off
• End 2 End thinking to create and execute programs to enhance product capabilities for each channel. Leverage technology to create tools to resolve basic/repetitive product queries
• Identify and create product experts at regional/zonal level to resolve queries
• End 2 End accountability of implementation of Minor Modification for channel specific requirements
• Ears 2 Ground & Channel Capability Building (30%)

• Create and implement a structural program to understand field requirement/feedback on existing and upcoming propositions.
• Leverage channel enablement team to identify the panel and regular participation

Measure of Success

• Value of New Business for allocated channels
• Product Mix for allocated channels
• Protection & Annuity Penetration within the channel sales
• Head of Distribution/Channel Head feedback
• Timely and Impactful Product Launch (end 2 end thinking)
• New to Max Life Product Ideas deployed

Key competencies/skills required

• Excellent Storyboarding skills
• Strong networking orientation
• Strong negotiation skills
• Sharp analytical orientation
• Collaboration
• Deep understanding of Various Financial Products

Experience

• Post Graduate from a premier business school
• Minima - 1+ years preferably in BFSI

Key Stakeholders

• Channel heads
• Channel training heads
• Marketing
• Technology
• Underwriting
• Legal & Compliance