Insurance Product Developer

Placements24; East London; Hybrid; ZAR 700,000 - 900,000; Full time

Benefits offered by this job

Hybrid work arrangement

Competitive bonus structure

Health, life and disability insurance

Retirement savings plan with employer

Job summary

Placements24 in East London, South Africa, seeks an innovative Insurance Product Developer to design, develop, and launch market-ready insurance products that meet customer needs and regulatory requirements. You will collaborate with actuarial, legal, marketing, and sales teams to shape competitive offerings.

The role combines market analysis, product strategy, and cross-functional leadership to drive profitability and growth.

Qualifications

• Experience in insurance product development within financial services.
• Strong knowledge of regulatory frameworks governing insurance.
• Excellent analytical and strategic thinking skills.
• Ability to collaborate with actuarial, legal, marketing and sales teams.

Responsibilities

• Conduct market research and competitor analysis for new products.
• Design and price innovative insurance product concepts.
• Collaborate with actuarial teams for profitability and viability.
• Work with legal and compliance to meet regulatory standards.
• Develop product documentation, wordings, and sales materials.
• Manage launch process and monitor post-launch performance.

Skills

Insurance product development

Strategic thinking

Project management

Cross-functional collaboration

Communication

Job description

About the Role

Our client is seeking an innovative and strategic Insurance Product Developer to join their team in East London . You will be responsible for designing, developing, and launching new insurance products that meet market demands and company objectives. This role requires a blend of market analysis, product strategy, and an understanding of regulatory requirements within the insurance sector . Collaborate with actuarial, legal, marketing, and sales teams to bring cutting-edge insurance solutions to market. This is an exciting opportunity to shape the future of insurance offerings from our offices in East London .

Key Responsibilities

• Conduct market research and competitor analysis to identify opportunities for new insurance products.
• Design and develop innovative insurance product concepts, features, and pricing strategies.
• Collaborate closely with actuarial teams to ensure product profitability and financial viability.
• Work with legal and compliance teams to ensure all products meet regulatory requirements and standards.
• Develop product documentation, policy wordings, and sales materials in conjunction with marketing and sales departments.
• Manage the product launch process and monitor product performance post-launch, making necessary adjustments.

Requirements

• Proven experience in insurance product development , management, or a related role within the financial services industry .
• Strong understanding of insurance principles, market dynamics, and regulatory frameworks.
• Excellent analytical, strategic thinking, and project management skills.
• Ability to collaborate effectively with cross-functional teams.
• Strong communication and presentation skills, with the ability to articulate complex product concepts.

Benefits

• Competitive annual salary and bonus structure based on product success.
• Hybrid work arrangement providing flexibility for employees in East London .
• Comprehensive health, life, and disability insurance.
• Retirement savings plan with employer matching.
• Opportunities for professional development and advanced training in product innovation.