Insurance Product Developer

Placements24; Gqeberha; Hybrid; ZAR 600,000 - 900,000; Full time

Benefits offered by this job

Hybrid work model

Health insurance

Retirement benefits

Learning opportunities

Job summary

Placements24 is seeking an innovative and strategic Insurance Product Developer to join its Port Elizabeth-based Product Management team. You will conceptualize, design, develop, and launch new insurance products and refine existing ones to meet evolving market demands and customer needs.

You will collaborate with underwriting, actuarial, marketing, and sales to ensure profitability, viability, and competitive positioning while driving business growth in South Africa's dynamic insurance

Qualifications

• Bachelor's degree in Business, Marketing, Finance, or a related field.
• Minimum of 4 years of experience in product development, product management, or a strategic role within the insurance sector.
• Demonstrated success in bringing new products to market or significantly improving existing ones.
• Strong understanding of the insurance market, customer needs, and regulatory environment in South Africa.
• Excellent project management, analytical, and communication skills.
• Ability to work effectively in a cross-functional team environment.

Responsibilities

• Conduct market research and competitive analysis to identify opportunities for new insurance products.
• Design product features, coverage options, pricing structures, and policy wordings.
• Collaborate with actuarial teams to forecast product performance, profitability, and pricing adequacy.
• Work closely with marketing and sales to develop launch strategies, promotional materials, and training programs.
• Manage the product lifecycle from ideation through development, launch, and ongoing performance monitoring.
• Ensure all new and updated products comply with regulatory requirements and industry standards.

Skills

Market research

Cross-functional teamwork

Project management

Communication skills

Analytical skills

Education

Bachelor's degree in Business/Marketing/Finance

Job description

About the Role

Our client seeks an innovative and strategic Insurance Product Developer to join their Product Management team in Port Elizabeth . This role is responsible for conceptualizing, designing, developing, and launching new insurance products and enhancing existing ones to meet evolving market demands and customer needs. You will work cross-functionally with underwriting, actuarial, marketing, and sales teams to ensure product viability, profitability, and competitive positioning. The ideal candidate is creative, possesses a strong understanding of the insurance landscape, and can translate market insights into successful product strategies that drive business growth.

Key Responsibilities

• Conduct market research and competitive analysis to identify opportunities for new insurance products.
• Design product features, coverage options, pricing structures, and policy wordings.
• Collaborate with actuarial teams to forecast product performance, profitability, and pricing adequacy.
• Work closely with marketing and sales to develop launch strategies, promotional materials, and training programs.
• Manage the product lifecycle from ideation through development, launch, and ongoing performance monitoring.
• Ensure all new and updated products comply with regulatory requirements and industry standards.

Requirements

• Bachelor's degree in Business, Marketing, Finance, or a related field.
• Minimum of 4 years of experience in product development, product management, or a strategic role within the insurance sector.
• Demonstrated success in bringing new products to market or significantly improving existing ones.
• Strong understanding of the insurance market, customer needs, and regulatory environment in South Africa.
• Excellent project management, analytical, and communication skills.
• Ability to work effectively in a cross-functional team environment.

Benefits

• Competitive salary and performance-based bonuses.
• Hybrid work model providing flexibility and work-life balance.
• Comprehensive health insurance and retirement benefits.
• Opportunities for continuous learning and professional advancement in product strategy.
• Be part of a forward-thinking team shaping the future of insurance products in Port Elizabeth.