Placement Manager
Job Description
About Nova Benefits
Nova Benefits is building India's most loved employee health and wellness platform. We work with some of the country's best employers to give their teams access to high-quality healthcare, and we believe technology is the unlock that makes this possible at scale. We are not just another insurance broker. We think of ourselves as an HR tech company that happens to hold an IRDAI broking license. Our north star is employee happiness, not premium volume.
We are backed by Bessemer Venture Partners, SIG, Better Capital, Titan Capital, and Multiply Ventures, and we have a strong track record of building fast and building well.
The Role
As a Placement Manager, you will own insurer relationships and be the engine behind Nova's ability to win competitive deals for clients. You will be responsible for getting the best possible coverage terms from insurers, and your work will directly determine how well Nova performs commercially.
This is not a back-office role. You will be a core part of our growth story, working at the intersection of underwriting intelligence, negotiation, and client outcomes.
What You Will Do
- Source and negotiate competitive quotes for GMC, GPA, and GTL products from private and public sector insurers
- Own RFQ management end to end, from receiving briefs to delivering final placements
- Apply your understanding of EB underwriting criteria to identify and pull the right levers for discounting
- Build and maintain strong relationships across your insurer network
- Work closely with our sales and client success teams to ensure competitive placement translates into deal wins and renewals
- Track market pricing, insurer aggression levels, and coverage trends to keep Nova ahead of the curve
KPIs
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Brokerage Commission %: Maximising revenue earnings for Nova through brokerage negotiations with insurers
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Win rates: Ensuring strong win-rates in new deals and strong client retention rates through competitive quote procurement from insurers
- Having a good understanding of GMC group medical insurance underwriting to know what levers can be leveraged to get discounting from insurers
- Strong multi-year insurer relationships with both private insurers and public sector insurers
Requirements
What We Are Looking For
- 8 to 14 years of experience in insurance placement or underwriting, with a strong focus on employee benefits
- Deep relationships with insurers, both private and PSU
- Strong working knowledge of GMC underwriting criteria and pricing structures
- Comfort with GPA and GTL is expected; non-EB experience is a plus
- Sharp Excel skills and comfort working with data to build pricing arguments
- Someone who can negotiate confidently, communicate clearly, and follow through
Skills
- Excellent Excel Skills
- Excellent relationships with insurers and understanding of their relative aggression in the market they’re
- Understanding of EB (GMC, GPA, GTL) underwriting criteria of insurers
- Non-EB understanding is a plus
Benefits
Health insurance, Accident insurance for family
Annual Health Check-ups
Mental wellness support
Equity for top performers
