Tata AIA Life Insurance

3 weeks ago

Navi Mumbai, India TATA AIA Life Insurance Full time

Job Title: Assistant Vice President - Compensation & Product

Department: Agency Sales

Reports To: VP - Agency Strategy

Supervises: 5-6 Team Members

Role Summary:

- The Assistant Vice President - Compensation & Product is a strategic leadership role responsible for designing, managing, and optimizing compensation frameworks and product propositions tailored for the agency channel.

- The role requires a blend of analytical rigor and market intelligence to drive competitive, performance-driven compensation structures and product strategies that promote growth, engagement, and profitability.

Organizational Relationships:

Internal Stakeholders: Sales Team, Sales Training, Head Office Training Content, Product, Chief Agency Officer, Distribution Operations

External Stakeholders: Leaders, Advisors & Employees

Key Responsibilities:

Product Strategy & Development:

- Drive product ideation, positioning, and lifecycle management for agency channel needs.

- Conduct competitive analysis and market research to identify product gaps and opportunities.

- Partner with actuarial, underwriting, and marketing teams to launch and promote new products.

- Customize product presentations and training materials for high-performing agents, including MDRT roadshows.

Stakeholder Engagement & Enablement:

- Liaise with senior leadership, zonal/regional heads, and cross-functional teams for alignment on compensation and product initiatives.

- Lead communication and engagement programs to drive adoption and understanding of compensation and product changes.

- Ensure timely approvals and govern compliance across all initiatives.

Analytics & Reporting:

- Develop dashboards and MIS to monitor compensation effectiveness, product performance, and agent productivity.

- Provide insights and recommendations based on data trends, forecasts, and competitor benchmarking.

- Automate reporting processes for enhanced efficiency and accuracy.

Skills & Qualifications:

Technical Skills:

- Preferably from Life Insurance or Finance industry with experience in distribution planning and reporting.

- High proficiency in MS Excel, MS Access, and presentation tools.

- Strong analytical skills with experience in data visualization and process 12 to 15+ years of progressive experience in life insurance or finance domains focusing on distribution compensation and product management.

- Minimum 5 to 7 years in leadership roles managing mid-sized teams.

- Proven ability to drive strategic initiatives with measurable business impact.

Why Join Us?

- Opportunity to lead strategic compensation and product initiatives impacting agency sales.

- Work with senior leadership and cross-functional teams in a dynamic environment.

- Attractive compensation package with growth and leadership development opportunities.

- Collaborative culture fostering innovation and excellence

(ref:iimjobs.com)

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