Business

Financial Services

Unit

Aditya Birla Health Insurance Company Ltd

Location

One World Centre, Mumbai

Poornata Position Number of the job 

Reports to: Poornata Position Number

Poornata Position Title of the job 

Lead- GTM

Reports to: Poornata Position Title

Head – CSG

Function

Service Operations

Reports to: Function 

Service Operations

Department

Actuarial Customer Solutions Group

Reports to: Department 

Customer Solutions Group

Designation of the Employee 

Designation of the Manager 

Date of writing/updation of JD

1) Job Purpose: Write the purpose for which the job exists (in 2-3 lines)

The purpose of the role is to strategize and execute plans for introducing products or services to the market, analyzing market trends, identifying target customer segments, devising marketing strategies, coordinating product launches, and collaborating with cross-functional teams to ensure successful market entry. Additionally, the role holder spot risks to new product lines or sales channels and develop relevant responding plans.

2) Dimensions: Mention quantitative or qualitative parameters that are relevant for the job and provide a better understanding of the scope and scale of the job.

Business Workforce Number 
 (Max 254 Characters) 

On Roll – 6000+

Offroll/ Part time – 4000+

Unit Workforce Number
 (Max 254 Characters) 

On Roll – 6000

Offroll/ Part time – 4000+

Function Workforce Number 
 (Max 254 Characters) 

On Roll – 800

Offroll/ Part time – 200

Department Workforce Number 
 (Max 254 Characters) 

On Roll – 7

• Offroll/ Part time - 

Other Quantitative and Important Parameters for the job: Budgets/ Volumes/No. of Products/Geography/ Markets/ Customers or any other parameter

About the Health Insurance Industry –

While the current market sees more than 15 non-life players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalized service provider (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the opportunity of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs. With the SME and the start-ups being the driving force of Indian economy, the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of channel partners across the country to harness on their captive business and explore new opportunities with them.

Market Opportunities – With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space, and the insurers are facing challenges to cater to the needs of this diverse clientele. Increasingly Indian customers have started considering health insurance partners as extensions of health advisers. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions with wellness benefits which would help them meet their end objectives and bring in profitable revenue source for the company.

About the Aditya Birla Health Insurance –

 Aditya Birla Health Insurance Co. Limited (ABHICL), a part of Aditya Birla Capital Ltd. (ABCL), is a joint venture between Aditya Birla Group and MMI Holdings of South Africa. ABHICL was incorporated in 2015 wherein Aditya Birla Capital Limited (ABCL) and Momentum Metropolitan Strategic Investments (Pty) Limited (Formerly known as MMI Strategic Investments (Pty) Ltd.) were holding 51% and 49% equity shares respectively. ABHICL commenced its operations in October 2016 and is engaged in the business of health insurance. Company’s current product portfolio includes unique offerings including chronic care and incentivized wellness. ABHICL became an associate company of Aditya Birla Capital Limited (ABCL) on October 21, 2022 post the allotment of 9.99% of equity shares of the Company to Platinum Jasmine A 2018 Trust, acting through its trustee Platinum Owl C 2018 RSC Limited (‘Investor’), an affiliate of Abu Dhabi Investment Authority (‘ADIA’). Consequently, Aditya Birla Capital Limited (ABCL) and Momentum Metropolitan Strategic Investments (Pty) Limited (Formerly known as MMI Strategic Investments (Pty) Ltd.) holds 45.91% and 44.10% of shares respectively.

As on H1 FY22 end, ABHICL recorded a gross written premium (GWP) of Rs.764 Crore and covered more than 16.2 Mn lives. ABHICL has nation-wide distribution presence in over 2800+ cities through branches and partner offices, 11 bancassurance partners and over 51,120+ direct selling agents. ABHICL has scaled and diversified digitally enabled distribution through 40%+ agency growth with 175 branch locations, bancassurance available through 16,000+ branches, and 39+ digital partners covering 6 Mn.+ lives through 50+ contextual byte-sized products. ABHI’s unique offering to market includes proposition includes -

• A Comprehensive Incentivized Wellness Program that will attract the young and health conscious and will motivate, guide and reward them to stay healthy
• A Chronic Care Management Program to cater to the unmet needs of a growing Indian population of those suffering from chronic lifestyle conditions like Diabetes, Asthma, High Cholesterol and Hypertension from Day 1
• ABHICL serves as an enabler and influencer of health and healthcare choices that customers make, in addition to being a payer of healthcare expenses. Thus, ABHICL would act like a much needed catalyst to grow the prevalent health insurance landscape in India through product innovations and a wider choice of consumer relevant products.

Key Challenges

• Hitting idea – roadblock while brainstorming about a new product, lack of ideation results in lack of actionable intel on potential product and consumer 
• Market Viability – market research gathers information about competition and audience, but a huge con is to create a product just because all competitors are doing the same. 
• Product roadmap problems – To create a product journey extensive development experience is required to curate product strategy efficiently 
• Workflow management – The synergy between collaborating teams affect the development speed and quality of the final product
• Time to market – The organizations ability to meet deadlines and launch timelines will determine products market positioning. This may affect overall time tp market process.
• Ensure compliance of all products to regulatory requirements w.r.t to Website /Communication to customers and Marketing Collaterals
• Support Sales/Distribution team on timely update of launch of new products in the market and continuous benchmarking of existing products with other Insurers existing or newly launched products.
• Creating Product based strategies, regular feedback with channel partners for developing strategies for n

  Frequently Asked Questions

  What are the eligibility criteria for the Lead GTM job at Aditya Birla Group?

  Eligibility typically includes the qualifications and experience outlined in the job description above, with around 10-12 Years years of relevant experience expected for this role.

  What are the primary responsibilities of a Lead GTM at Aditya Birla Group?

  The key responsibilities for this role are detailed in the Key Responsibilities section above, covering the core duties expected of a Lead GTM at Aditya Birla Group.

  Is prior experience required for this position?

  This role requires around 10-12 Years years of relevant experience, as specified in the job listing. Please refer to the Qualifications & Experience section above for full details.

  What skills are important for this role?

  Skills relevant to this position are outlined in the Qualifications & Experience section above. In general, strong communication, domain knowledge, and the ability to meet role-specific targets are valued across similar BFSI positions.

  How do I apply for the Lead GTM role at Aditya Birla Group?

  You can apply directly using the Apply Now button on this page, which will take you to Aditya Birla Group's application process for this role.