About the opportunity
Job Overview
<p align="justify">Product Manager – Digital & Process Improvement (Bancassurance) will be responsible for driving digital enablement, operational migration, and process transformation across the bancassurance ecosystem. The role has a strong focus on digitisation of sourcing journeys, migration from manual to digital-first processes, backend automation, and operational activities migration across Life, Health, and General Insurance.</p> <p align="justify">The incumbent will lead initiatives to modernise bancassurance operations, reduce manual dependencies, improve turnaround times, and enable scalable, compliant, and data-driven operations. The role requires close collaboration with bank IT, insurer operations & IT, digital teams, MIS, compliance, and business stakeholders to deliver sustainable digital and process improvements.</p>
<p>Key Responsibilities</p>
<p>Digital Enhancement & Transformation</p>
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Drive end-to-end digital transformation across bancassurance journeys including digital, assisted, and tele/virtual channels.
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Lead migration of operational activities from Bancassurance Business teams to Operations / centralized teams, ensuring clear role demarcation and smooth transition.
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Identify and transition backend activities such as proposal validation, documentation handling, insurer coordination, policy issuance tracking, servicing, reconciliation, and MIS to Operations teams.
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Redesign bancassurance workflows to support a digital-first, operations-led operating model.
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Identify opportunities for automation, system integrations, and reduction of manual touchpoints.
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Partner with bank IT and insurer technology teams to implement workflow digitisation and system-driven controls.
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Review and re-engineer existing bancassurance processes to improve turnaround time, accuracy, control, and scalability.
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Define, document, and implement SOPs for migrated and digitised bancassurance processes.
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Implement robust process controls to reduce exceptions, rework, and audit observations.
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</ul>
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Support change management and adoption during operational migration and digital rollouts. </p>
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Act as a key interface between Business, Operations, Bank IT, Insurer Ops/IT, and vendors for digital and process initiatives.
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Drive process alignment across multiple insurers in Life, Health, and General Insurance.
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Ensure all digital and migrated processes comply with IRDAI regulations, DPDP Act requirements, and bank policies.
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Work closely with compliance and risk teams to close regulatory gaps and address audit findings.
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Support internal audits, partner bank governance forums, and IRDAI / cyber security audits.
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Develop and maintain dashboards and MIS to track digital adoption, operational migration progress, turnaround times, drop-offs, and exception trends.
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Use data and root-cause analysis to continuously improve conversion ratios, operational efficiency, and customer experience.</li>
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Monitor insurer, vendor, and operations performance against agreed benchmarks.
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</ul> <p align="justify">Looking for candidates experienced in Digital insurance process re-engineering, operational migration, or digital transformation roles. The candidates must have Strong understanding of bancassurance operating models across Life, Health, and General Insurance. Demonstrated experience in transitioning responsibilities from business teams to operations / shared services. Good knowledge of IRDAI regulations, DPDP Act, and audit frameworks.</p>
<p>Key Skills & Competencies </p>
<ul>
<li> Digital transformation & automation </li>
<li>Operational migration & operating model redesign </li>
<li>Process re-engineering & standardisation </li>
<li>Bancassurance operations & governance </li>
<li>Stakeholder & change management </li>
<li> Regulatory & compliance awareness </li>
<li>Data-driven decision making </li>
</ul>