Insurance Product Developer

Placements24; Stellenbosch; Hybrid; ZAR 900,000 - 1,300,000; Full time

Benefits offered by this job

Competitive salary

Health benefits

Retirement plan

Paid time off

Hybrid work

Job summary

Placements24 in Stellenbosch, Western Cape, is seeking an Insurance Product Developer to lead the end-to-end lifecycle of innovative insurance products. The role combines in-office collaboration with remote work, supporting market research, development, launch, and ongoing performance analysis.

You will collaborate with actuarial, underwriting, legal, marketing, and sales teams to define specifications, pricing, and policy wordings while ensuring regulatory compliance and strong profitability

Qualifications

• Bachelor's degree in a business/finance-related field.
• 5+ years in insurance product development or related role.
• Strong insurance principles and regulatory understanding.
• Ability to translate market insights into product strategy.
• Experience with data analysis and financial modeling.
• Familiarity with agile development is a plus.

Responsibilities

• Conceptualize, design, and develop new insurance products and features across lines of business.
• Perform market research and competitive analysis to identify opportunities and risks.
• Collaborate with actuarial, underwriting, legal, marketing, and sales teams throughout product development.
• Define product specs, pricing strategies, and policy wordings; establish operational requirements.
• Manage product launches and create training materials and go-to-market plans.
• Monitor product performance and profitability; implement improvements based on feedback.
• Ensure products comply with regulatory requirements and company policies.
• Develop business cases and financial projections for new initiatives.
• Stay updated on industry trends and emerging risks impacting the market.
• Contribute to strategic planning and innovation roadmap for the product portfolio.

Skills

Analytical skills

Problem solving

Project management

Stakeholder influence

Data analysis

Financial modeling

Agile methodologies

Education

Bachelor's degree in Business, Marketing, Finance, Actuarial Science, or related field

Job description

About the Role

Our client, a forward-thinking insurance provider based in the picturesque region of Stellenbosch, Western Cape , is looking for an innovative Insurance Product Developer to join their expanding team. This role focuses on creating and refining insurance products that meet evolving market demands and customer needs. The position offers a hybrid work arrangement, blending the synergy of in-office collaboration with the focus of remote work. You will be instrumental in the entire product lifecycle, from ideation and market research to development, launch, and ongoing performance analysis. This is an exciting chance to shape the future of our client's offerings and drive business growth.

Key Responsibilities

• Conceptualize, design, and develop new insurance products and features across various lines of business.
• Conduct comprehensive market research and competitive analysis to identify opportunities and potential risks.
• Collaborate closely with actuarial, underwriting, legal, marketing, and sales teams throughout the product development process.
• Define product specifications, pricing strategies, policy wordings, and operational requirements.
• Manage the product launch process, including training materials and go-to-market strategies.
• Monitor product performance, profitability, and customer feedback, recommending improvements and adjustments.
• Ensure all products comply with regulatory requirements and company policies.
• Develop business cases and financial projections for new product initiatives.
• Stay abreast of industry trends, emerging risks, and technological advancements impacting the insurance market.
• Contribute to the strategic planning and innovation roadmap for the company's product portfolio.

Requirements

• Bachelor's degree in Business, Marketing, Finance, Actuarial Science, or a related field.
• Minimum of 5 years of experience in insurance product development, management, or a closely related role.
• Strong understanding of insurance principles, market dynamics, and regulatory environments.
• Proven ability to conduct market research and translate insights into successful product strategies.
• Excellent analytical, problem-solving, and project management skills.
• Strong communication, presentation, and interpersonal skills, with the ability to influence stakeholders.
• Proficiency in data analysis and financial modeling.
• Experience with agile development methodologies is a plus.
• A creative and innovative mindset with a passion for developing customer-centric solutions.
• Ability to work effectively in a hybrid work environment.

Benefits

• Competitive salary and performance-based bonuses.
• Comprehensive health and wellness benefits package.
• Retirement savings plan.
• Paid time off and opportunities for professional development.
• Hybrid work flexibility, promoting work-life balance.
• Exposure to cutting-edge product innovation in the insurance sector.
• Collaborative and dynamic team environment.
• Opportunities to influence product strategy and company direction.