Vice President & National Head - Government Annuity

Axis Max Life Insurance
Position Overview
TheNational Head – Government Annuity Business will be responsible for driving Axis Max Life Insurance’s annuity portfolio related to government and public sector business. This is a senior role accountable for overseeing zonal operations, government relationships, product strategies, compliance, and business growth in annuity solutions tailored for government-linked retirement and pension schemes.
Key Responsibilities
Strategic Leadership
Develop and execute the business plan for government annuity segment in line with organizational goals.
Identify growth opportunities, set targets, and ensure market competitiveness in the annuity service sector.
Drive new business initiatives in collaboration with central and state government agencies and public sector undertaking.
Business Development Relationship Management
Build and nurture strategic relationships with government bodies, regulatory authorities (such as PFRDA), and key stakeholders.
Establish Axis Max Life as a preferred annuity service provider for government pension and retirement programs such as NPS.
Identify, pursue, and close new business opportunities for annuity products related to government and large institutional clients.
Product Operations Management
Oversee the launch and delivery of annuity products compliant with government and regulatory requirements.
Collaborate with product, actuarial, operations, and IT teams to ensure seamless onboarding and servicing of institutional clients.
Keep abreast with regulatory updates to ensure all products and processes are PFRDA/IRDAI compliant.
Financial Sales Management
Set, monitor, and deliver on stretch targets around revenue, new business margin, embedded value, and persistency ratios for the annuity business.
Build and manage a high-caliber, pan-India team focused on government business development and relationship management.
Ensure robust processes for reporting, analytics, pipeline management, and compliance.
Stakeholder Engagement Representation
Represent Axis Max Life Insurance in policy discussions, forums, and industry bodies related to pension, retirement, and annuity business.
Lead negotiations and partnership development with government authorities and institutional clients.
Key Requirements
CriteriaDetailsEducationGraduate/Post Graduate in Business, Finance, Actuarial Science, or related field.ExperienceMinimum 15 years in insurance/financial sector, with at least 5 years in government or group annuity business leadership.LeadershipProven people leadership with the ability to mentor and build high-performing teams.Regulatory Sector KnowledgeIn-depth understanding of government pension/annuity schemes, NPS regulations, and compliance requirements.Stakeholder SkillsExcellent interpersonal skills and network within government/policy/retirement sector.Execution ResultsTrack record of growing business lines and delivering on ambitious targets.
Key Performance Indicators
New business acquisition and revenue from government annuity vertical
Market share in government and institutional annuity business
Relationship strength with central/state government bodies and regulators
Persistency, renewal, and claim ratios
Speed and success in launching new annuity products as per government needs
Employee engagement and retention within pan-India teams
About Axis Max Life Insurance
Axis Max Life Insurance is India’s fifth largest private life insurer and a joint venture between Max Financial Services and Axis Bank. The company delivers comprehensive protection, savings, retirement, and annuity solutions through multichannel distribution, servicing both individual and group clients, including government institutional segments[1][2][6][3].
Note: Role may involve extensive travel and regular representation of the company in government and industry forums.The above job description is illustrative and may change in accordance with business needs and regulatory developments.

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