Product Development Specialist - Short-Term Insurance

Placements24; Greater London; Hybrid; GBP 50,000 - 80,000; Full time

Benefits offered by this job

Competitive salary

Medical aid

Life cover

Retirement savings

Remote work flexibility

Continuous learning and development

Job summary

Placements24 is seeking a Product Development Specialist to design and launch new short-term insurance products from a fully remote setup in the United Kingdom. The candidate will lead market research, collaborate with actuarial, underwriting, and marketing teams, and ensure regulatory compliance across the product lifecycle.

The role requires a strong analytical mindset, project management skills, and a customer-centric approach to building competitive insurance solutions.

Qualifications

• Bachelor's degree in Business, Marketing, Finance, Insurance, or a related field is required.
• Minimum 3 years of experience in product development, product management, or a similar role within short-term insurance.
• Thorough understanding of short-term insurance products (e.g., household, motor, commercial).
• Knowledge of regulatory requirements and compliance issues in the insurance sector.

Responsibilities

• Conceptualize, design, and develop new short-term insurance products and features.
• Conduct market research, competitor analysis, and customer needs assessments.
• Collaborate with actuarial, underwriting, legal, and marketing teams throughout the product lifecycle.
• Ensure all new products comply with regulatory requirements and company standards.
• Develop product documentation, including policy wordings and sales materials.
• Manage product launches, including training for sales and support teams.
• Monitor product performance and identify opportunities for improvement or enhancement.
• Stay informed about industry trends, emerging risks, and innovative insurance solutions.
• Provide product expertise and support to internal stakeholders.
• Contribute to the strategic planning and roadmap for the product portfolio.

Skills

Analytical skills

Communication

Project management

Remote collaboration

Education

Bachelor's degree in Business, Marketing, Finance, Insurance, or a related field

Tools

Microsoft Office Suite

Job description

About the Role

Our client, a forward-thinking insurance provider, is seeking a creative and analytical Product Development Specialist to join their team. This fully remote role allows you to contribute innovative ideas and develop new insurance products from anywhere in the country. The ideal candidate will have a strong understanding of the short-term insurance market, regulatory landscape, and customer needs. You will be responsible for conceptualizing, designing, and launching new insurance products, as well as enhancing existing offerings to maintain a competitive edge. We are looking for an individual with excellent market insight, strong project management skills, and the ability to translate market opportunities into viable product solutions. This is a fantastic opportunity to shape the future of short-term insurance for our client and drive growth through innovative product strategies, all within a flexible remote working environment.

Key Responsibilities

• Conceptualize, design, and develop new short-term insurance products and features.
• Conduct market research, competitor analysis, and customer needs assessments.
• Collaborate with actuarial, underwriting, legal, and marketing teams throughout the product lifecycle.
• Ensure all new products comply with regulatory requirements and company standards.
• Develop product documentation, including policy wordings and sales materials.
• Manage product launches, including training for sales and support teams.
• Monitor product performance and identify opportunities for improvement or enhancement.
• Stay informed about industry trends, emerging risks, and innovative insurance solutions.
• Provide product expertise and support to internal stakeholders.
• Contribute to the strategic planning and roadmap for the product portfolio.

Requirements

• A Bachelor's degree in Business, Marketing, Finance, Insurance, or a related field.
• A minimum of 3 years of experience in product development, product management, or a similar role within the short-term insurance industry.
• Thorough understanding of short-term insurance products (e.g., household, motor, commercial).
• Knowledge of regulatory requirements and compliance issues in the insurance sector.
• Strong analytical, research, and problem-solving skills.
• Excellent communication, presentation, and project management abilities.
• Ability to work independently and collaboratively in a remote setting.
• Proficiency in Microsoft Office Suite and familiarity with product management tools.
• A creative and innovative mindset with a passion for developing customer-centric solutions.
• Experience with market segmentation and pricing strategies is a plus.

Benefits

• Our client offers a competitive salary, comprehensive benefits including medical aid, life cover, and retirement savings.
• This fully remote position offers exceptional flexibility and autonomy, enabling a healthy work-life balance.
• You will have access to continuous learning and development opportunities, including industry-specific training and professional workshops.
• Be part of a dynamic and innovative team that is dedicated to revolutionizing the short-term insurance market, contributing your expertise from anywhere in the country.
• Join our client and help shape the future of insurance products.