Insurance Product Manager Jobs in Chennai Insurance Company
⚡ Urgent Requirement🏢 Chennai Insurance Industry - Where to Find These Jobs
Chennai is one of India's most important insurance industry cities, home to Star Health and Allied Insurance (India's largest standalone health insurer), regional offices of all major life and general insurers, and a large insurance operations workforce. The city employs over 1.5 lakh insurance professionals across sales, operations, claims, underwriting, and technology.
Anna Salai, T. Nagar, Nungambakkam, and Guindy are the primary insurance employment zones in Chennai. Key private sector employers include Star Health Insurance, HDFC Life, ICICI Prudential Life, SBI Life, Bajaj Allianz Life, Tata AIA, Max Life Insurance, HDFC ERGO, ICICI Lombard, and Bajaj Allianz General Insurance.
📋 Job Description
Jobzi is sourcing qualified candidates for Insurance Product Manager positions in Chennai insurance companies. This role is with a leading private sector life insurer, general insurer, or health insurance company in Chennai. You will be part of India's growing insurance industry with strong career growth and competitive compensation.
📌 Key Responsibilities
- Conceptualize, design, and launch new insurance products aligned with market needs and regulatory framework
- Coordinate with actuarial team for product pricing, benefit structure, and P&L projection
- Prepare and file product documents with IRDAI for approval under Use and File or File and Use procedures
- Conduct market research on competitor products, customer preferences, and pricing benchmarks
- Manage entire product lifecycle from design to launch, monitoring, and revision
- Train sales, underwriting, and claims teams on new product features and guidelines
- Monitor product profitability, loss ratio, and premium performance against business plan
🎓 Qualifications and Requirements
- MBA in Finance/Marketing, CA, or actuarial qualification with 6-12 years insurance product experience
- Deep knowledge of IRDAI product regulations for life, health, or general insurance
- Experience in product design, actuarial pricing support, and regulatory filing process
- Strong analytical skills for product P&L, loss ratio analysis, and market benchmarking
- Ability to coordinate across actuarial, legal, technology, and sales teams for product launches
- Understanding of insurance accounting, reserving concepts, and embedded value impact
- Good presentation and writing skills for regulatory filings and management proposals
✅ Required Skills
🏆 Certifications Valued
IRDAI Insurance Agent License, POSP Certificate, IRDA Composite License, NISM Series certifications, IC-33 (Life Insurance), IC-38 (General Insurance), IC-57 (Health Insurance), Licentiate / Associate / Fellow of Insurance Institute of India (III)
❓ Frequently Asked Questions
Which areas in Chennai have the most insurance company jobs?
Anna Salai (Mount Road), T. Nagar, Nungambakkam, Thousand Lights, and Guindy are Chennai's primary insurance employment zones. Star Health Insurance's headquarters in Nungambakkam is one of the largest single insurance employers. T. Nagar hosts branch offices of nearly every major insurer.
What is the average insurance company salary in Chennai in 2026?
Insurance salaries in Chennai range from Rs.15,000 for entry-level policy servicing roles to Rs.1,50,000+ for senior managers in underwriting, product, and medical affairs. Sales professionals with good incentive achievement earn Rs.60,000 - Rs.2,00,000 total monthly compensation.
What IRDAI certifications are required for insurance jobs in Chennai?
IRDAI agent license (IC-33 for life, IC-38 for general) is mandatory for field sales and advisory roles. The Insurance Institute of India offers Licentiate, Associate, and Fellowship qualifications valued for underwriting, claims, and senior roles. POSP certificate is required for point-of-sales person roles.
What does an Insurance Product Manager do in Chennai?
Insurance Product Managers at Chennai insurers design new products, manage IRDAI regulatory filings, work with actuaries on pricing, launch products to market, and monitor their performance. Star Health Insurance (Chennai HQ) has a significant product team developing health insurance innovations for the Indian market.
What is the salary for Insurance Product Manager in Chennai in 2026?
Insurance Product Managers with 6-12 years experience earn Rs.58,000 - Rs.1,38,000 per month in Chennai. Senior product heads and Chief Product Officers at large insurers earn Rs.1,50,000 - Rs.3,00,000 per month with performance bonuses.
What IRDAI processes does a Product Manager need to know?
File and Use (F&U) and Use and File (U&F) filing procedures, IRDAI product regulations (IRDA Health Regulations 2016, IRDAI Life Products Regulations 2024), standardized product guidelines, Benefit Illustration format requirements, and product wordings approval processes are essential knowledge for insurance product managers in India.
What is the salary for Insurance Product Manager in Chennai 2026?
A Insurance Product Manager in Chennai earns between Rs.57,000 and Rs.1,37,000 per month in June 2026, depending on experience, insurer, and performance.
What experience is required for Insurance Product Manager jobs in Chennai?
6 - 12 Years of relevant experience is required for Insurance Product Manager roles in Chennai insurance companies. Domain knowledge of insurance products and IRDAI regulations is strongly valued.