Job Description

About Max Life Insurance:Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation.Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners. Max Life has built itsoperations over almost two decades through need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.As per public disclosures, during the financial year 2019-20, Max Life achieved gross written premium of Rs. 16,184 crore. As on 31st March 2020, the Company had Rs. 68,471 crore of assets under management (AUM) and a Sum Assured in Force of Rs. 913,660 crore.For more information, please visit the Company's website atWe Stand for:CaringA compassionate leader who demonstrates appreciation for diversity in thoughts and approach towards people as well initiatives, eliminates biases to promote meritocracy. A coach who inspires people to excel and sets a culture of high performance.CollaborationA boundary-less leader who is capable of identifying & leveraging expertise of team members for superlative outcomes, thus, delivers to the organization's ask. A leader who addresses challenges with a solution oriented approach to create win-win partnerships within & outside teams through inspired cooperation and teamwork.Customer ObessionA leader who embodies Customer and keeps him at the core of all deliverables. Proactively anticipate customer needs and implement strategies to provide best in class customer experience.Growth MindsetAn ambitious leader who can sponsor game changing ideas and rally the team to turn them into a reality. A leader who challenges the status quo, takes bold & creative actions to manage complex issues & achieve high impact goals by pushing self and others and raise the bar on performance.People LeadershipA people's leader who inspires their teams to stretch themselves and achieve their true potential. A leader who create leaders by coaching, empowering & motivating them to deliver superior business outcomes."Max Life Insurance is an Equal Opportunity Employer and promotes inclusion and diversity."PositionVP - Head, Product Channel Management, ProprietaryFunctionProduct Channel ManagementDepartmentProduct ManagementBand3AReporting toCVP- Head PCMTeam size (D/I)DRs - 2 (AVP - Agency& DSF, CM - Ecom & Broca)Total team - 6 + 1 O/SLocationGurgaon - 100% WFO roleJOB 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 all Proprietary (Agency, DSF, E-Commerce, Group) and Broca 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 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 - Ownership of WPC proposal for Agency and DSF
• 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 (20%)

• 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
• End 2 End accountability of implementation of Minor Modification for channel specific requirements
• Leverage channel enablement team to identify the panel and regular participation for a structured Ears 2 Ground program for Prop channels
• Anchor Product Conversations with key Stakeholders (Travel + Addressing large forums) (15%)

• IMF Acquisition and Engagement wrt Product conversation
• MDRT Meets and Top Agent engagement wrt Product Conversations
• Policybazaar growth and Other Digital Partner PB conversations on Product front
• Ownership of PSM and IRP process and implementation (10%)

• E2E ownership, deployment, efficacy and process review of the PSM and IRP modules
• Power Mission Uday for Ecom through Products (15%)

• Lead charge from the Products front on Ecom enablement through Products and NFOs
• Lead all Ecom engagement & enablement conversations across Policybazaar and Direct business
• Innovative and breakthrough idea curation focused on D2C
• People management& capability building (10%)

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

Measure of Success

• New Product launch MoS met (Channels)
• Value of New Business for allocated channels
• Product Mix for allocated channels
• Margin profile vs Plan at LOB level
• Protection & Annuity Penetration within the channel sales
• New Product/Fund deployment - Ecom/PB
• Head of Distribution/Channel Head feedback
• New to Max Life Product Ideas deployed
• Audit score on PSM/IRP
• Team Attrition

Key competencies/skills required

• Expertise in Life Insurance vertical with Distribution& Product background preferred
• Excellent Storyboarding skills
• Strong networking orientation
• Strong negotiation skills
• Account management skills
• Sharp analytical orientation
• Deep understanding of Various Financial Products
• High EQ

Experience

• Post Graduate from a premier business school
• Minima -12 years preferably in BFSI
• Minimum 3 years in Life Insurance

Key Stakeholders

• Head of Distribution
• Channel heads & DRs,
• Channel training heads
• Ch Marketing leads
• Underwriting
• External - PB lead, Top IMFs, Top Agents (esp ALA)

Max Life Insurance