DVP – Product Development

A leading life insurance company is seeking a visionary DVP – Product Development to drive the growth and success of its product portfolio. In this senior leadership role, you will oversee the entire lifecycle of insurance products from innovation and design to regulatory governance. Furthermore, you will lead a team of professionals to create solutions that meet evolving customer needs while maintaining robust profitability. Consequently, this position is vital for shaping the company’s competitiveness and long-term market leadership.

The DVP – Product Development must develop and implement a comprehensive product strategy that aligns with the broader organizational goals. Additionally, you will coordinate with legal, actuarial, and compliance teams to ensure all offerings meet strict IRDAI requirements. Therefore, the company is looking for a seasoned leader with 15 years of industry experience. If you are a creative thinker with strong business acumen and a background in competition analysis, this DVP – Product Development role offers a premier professional opportunity.

Key Responsibilities

• Develop and implement a comprehensive product development strategy aligned with organizational goals.
• Lead a specialized team in designing, developing, and launching innovative life insurance products.
• Conduct regular market assessments to identify competitive opportunities and potential threats.
• Define target customer segments, product positioning, and data-driven pricing strategies.
• Foster a culture of innovation to encourage the exploration of differentiated product features and services.
• Oversee the end-to-end product roadmap and provide clear communication on objectives to stakeholders.
• Manage new product development timelines while adhering to strict governance and compliance processes.
• Identify and mitigate risks associated with product launches through strategic planning and analysis.
• Handle IRDAI requirements, including responding to queries and managing regulatory reporting.
• Mentor and guide team members, setting clear objectives to foster professional growth and excellence.

Requirements and Qualifications

• Graduate or Post Graduate degree (MBA is preferred).
• Minimum of 15 years of professional experience within the life insurance industry.
• Strong functional competency in innovation, creativity, and differentiated solution design.
• In-depth knowledge of product pricing, regulatory requirements, and distribution channels.
• Proven ability to analyze competition and industry dynamics to inform product decisions.
• Excellent networking and collaboration skills with the ability to manage senior stakeholders.