Job Description

Lead YBL, Strategic Alliances, UCB\'s and Peerless PCMPositionLead YBL, Strategic Alliances, UCB\'s and Peerless PCMFunctionProduct Channel ManagementDepartmentProduct ManagementBand4BReporting toAVP- Head PCM (Axis, Bancassurance and Strategic Alliances)Team size (D/I)DRs - 2 Team Size - 1 O/SLocationGurgaonJOB SUMMARYProduct 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 YBL and Strategic Alliances. 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 lead all Product and Category conversations and closely work with channel enablement team to ensure end to end closures b/w Products, Distribution and FP&AKEY RESPONSIBILITIES * Enabling Profitable Growth for the Distribution Channel (30%)

• 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 (30%)

• 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 (20%)

• 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
• People management& capability building (20%)

• Coach and mentor team members for capability building across Strategic thinking, New Product Ideation, Product Channel engagement

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 - 8+ years preferably in BFSI

Key Stakeholders

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

Max Life Insurance