Product Development Intern

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Title: Product Development Intern

Location: Mumbai

Job Summary:

We are seeking a highly motivated Product Intern to join our New Product Development team within the Health Insurance sector. The successful candidate will play a crucial role in Shaping the Product Documentation & Risk Management Practice of Prudential Health

Key Responsibilities:

• Risk Management: Analyze Product Construct from the angle of Risk, Long term sustainability and suggest Solutions to make it watertight.
• Collaboration: Collaboration with Underwriting, Claims, New Business, Renewal, Compliance to draft Policy Conditions during the entire phase of the Customer Journey
• Ownership: Take Ownership of Product Filing Documents from Drafting to Getting it approved from Compliance, Actuaries, Underwriting, Claims , New Business & Product Management Committee
• Collateral Approval: Ensure Marketing Collaterals for the customer are in line with the Filed Product Documents
• Regulatory Compliance: Ensure Policy Documents imbibe the extant IRDAI guidelines.
• Competition Benchmarking: Compare & Execute Best Practices of Key Competition while Drafting Customer Facing Documents

Qualifications:

• Education: MBA in Marketing/ MBA in Insurance/Actuarial Studies (min -4 papers cleared)

Skills:

• Strong analytical and research skills, with the ability to interpret complex data.
• Excellent communication and collaboration abilities.
• Proficient in Microsoft Office Suite, particularly Excel and PowerPoint.
• A keen interest in the health insurance industry and product development.

Benefits:

• Gain hands-on experience in shaping the GTM strategy within the health insurance sector in a 0 to 1 team.
• Good Monthly Salary, with an Opportunity to on the rolls for a New Green Field Health Insurer
• Work closely with experienced product managers and industry professionals.
• Develop a deep understanding of product development processes and strategies.
• Opportunity to contribute to the launch of new health insurance products.

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.