SBI Life Insurance - Development Manager (3-10 yrs)

Designation: Development Manager

Location: Muzaffarpur

Employment Type: Full-time, On-site

Company Description

SBI Life Insurance Co. Ltd., a trusted life insurance company in India, offers a diverse range of products for individuals and groups. Committed to a 'Customer-First' approach, the company focuses on operating efficiency and hassle-free claim settlement. SBI Life is dedicated to enhancing digital experiences for customers, distributors, and employees, with a significant presence across the country. The company emphasizes a healthy and flexible work environment, encourages social responsibility, and has a strong financial standing.

About the Role

We are seeking a dynamic and strategic Development Manager to join our team in Muzaffarpur. This full-time, on-site role is crucial for leading the development of new insurance products and managing enhancements to existing ones. The ideal candidate will possess strong project management skills, a deep understanding of regulatory compliance, and the ability to collaborate effectively with cross-functional teams to drive innovation and maintain our 'Customer-First' approach.

Key Responsibilities

- Oversee the end-to-end development lifecycle of new insurance products, from conceptualization and design to launch and post-launch review.

- Manage product enhancements and modifications for existing insurance offerings, ensuring they remain competitive and aligned with market needs.

- Collaborate closely with cross-functional teams, including actuarial, sales, marketing, legal, and IT, to ensure seamless product development and implementation.

- Ensure strict adherence to all regulatory compliance standards and guidelines throughout the product development process.

- Engage in strategic planning for the product portfolio, identifying market opportunities and potential product innovations.

- Implement robust risk management strategies pertaining to product development and market introduction.

- Work closely with various stakeholders, including senior management and external partners, to align product development initiatives with broader company objectives.

- Monitor market trends, competitor activities, and customer feedback to inform product strategy and development.

- Prepare detailed reports and presentations on product development progress, performance, and strategic outlook.

Required Qualifications

- Project Management: Strong project management skills, with a proven ability to oversee complex projects from initiation to completion.

- Product Development: Demonstrated experience in product development, preferably within the financial services or insurance sector.

- Regulatory Compliance: In-depth knowledge of regulatory compliance specific to product development in the insurance industry.

- Analytical & Strategic Planning: Strong analytical abilities for market assessment and strategic planning.

- Communication: Excellent communication and interpersonal skills for effective collaboration with cross-functional teams and stakeholders.

- Industry Experience: Experience in the insurance industry is preferred.

- Education: Master's degree in Business Administration, Finance, or a related field.