Insurance Product Developer

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

Benefits offered by this job

Bonus potential

Health coverage

Professional development

Hybrid work in Klerksdorp

Tech tools access

Job summary

Placements24 is seeking an innovative and analytical Insurance Product Developer to join our strategic team in Klerksdorp. You will shape new product offerings through design, development, and launch, while refining existing products to meet customer needs and drive growth.

You will partner with actuarial, legal, marketing, and sales to research market needs, define features and pricing, ensure regulatory compliance, and create product documentation and training materials.

Qualifications

• 5+ years in product development or underwriting in insurance.
• Strong understanding of insurance principles and market dynamics.
• Ability to translate data into actionable insights.
• Experience coordinating with actuarial, legal, marketing and sales teams.
• Bachelor's degree in Business, Finance, Actuarial Science, or related field.

Responsibilities

• Research market needs and competitive offerings to identify opportunities for new insurance products.
• Design and develop innovative insurance products, defining features, benefits, coverage, and pricing structures.
• Collaborate with actuarial teams to ensure pricing, reserving, and profitability targets are met.
• Work with legal and compliance to ensure regulatory requirements are met.
• Develop product documentation, marketing materials, and sales training resources.
• Monitor product performance post-launch and recommend adjustments as needed.

Skills

Market research

Analytical skills

Strategic thinking

Pricing strategy

Stakeholder collaboration

Product design

Education

Bachelor's degree in Business, Finance, or Actuarial Science

Job description

About the Role

Our client is seeking an innovative and analytical Insurance Product Developer to join their strategic team in Klerksdorp . This role is at the forefront of shaping the company's future offerings, involving the design, development, and launch of new insurance products and the enhancement of existing ones. You will conduct market research, analyze industry trends, and collaborate with various departments, including actuarial, legal, marketing, and sales, to ensure products are competitive, profitable, and meet customer needs. The ideal candidate is a strategic thinker with a strong understanding of the insurance landscape and a passion for creating solutions that drive business growth.

Key Responsibilities

• Research market needs and competitive offerings to identify opportunities for new insurance products.
• Design and develop innovative insurance products, defining features, benefits, coverage, and pricing structures.
• Collaborate closely with actuarial teams to ensure product pricing, reserving, and profitability targets are met.
• Work with legal and compliance departments to ensure all products adhere to regulatory requirements.
• Develop product documentation, marketing materials, and sales training resources.
• Monitor product performance post-launch and recommend adjustments or enhancements as needed.

Requirements

• Minimum of 5 years of experience in product development, underwriting, or a related role within the insurance industry.
• Strong understanding of insurance principles, product design, and market dynamics.
• Excellent analytical and problem-solving skills, with the ability to translate complex data into actionable insights.
• Strong project management skills and the ability to manage multiple initiatives simultaneously.
• Effective communication and collaboration skills to work with cross-functional teams.
• Bachelor's degree in Business, Finance, Actuarial Science, or a related field.

Benefits

• Highly competitive salary with performance-based bonuses and potential equity.
• Comprehensive health, dental, and vision insurance coverage.
• Opportunities for professional growth and development, including industry certifications.
• A hybrid work environment that blends in-office collaboration with remote flexibility in Klerksdorp .
• Access to innovative tools and technologies to support product development initiatives.