Insurance Product Developer - Benoni

Placements24; Benoni; Hybrid; ZAR 700,000 - 1,100,000; Full time

Benefits offered by this job

Hybrid work arrangement

Career growth opportunities

Competitive compensation

Job summary

Placements24 is seeking an innovative Insurance Product Developer to join our client in Benoni, Gauteng. This hybrid role focuses on designing, developing, and managing new insurance products while enhancing existing offerings.

You will collaborate with actuarial, underwriting, marketing, and legal teams to ensure profitability, market relevance, and regulatory compliance. You will drive product strategy, pricing alignment, and lifecycle management, presenting proposals to senior management and

Qualifications

• Bachelor’s degree in Actuarial Science, Finance, Business Administration, or a related field is required.
• Significant experience in insurance product development or management.
• ACII or equivalent professional qualifications are desirable.

Responsibilities

• Conceptualize, design, and develop new insurance products from market research to launch.
• Analyze market trends, competitor offerings, and customer feedback to identify product opportunities.
• Collaborate with actuarial teams to ensure pricing and reserving are appropriate.
• Work with underwriting to define policy terms, conditions, and guidelines.
• Develop product specifications, marketing materials, and training documentation.
• Ensure all product development adheres to regulatory frameworks and compliance standards.
• Manage the product lifecycle, including enhancements and discontinuations.
• Monitor product performance and profitability, making improvement recommendations.
• Present product proposals and updates to senior management and stakeholders.

Skills

Analytical thinking

Strategic thinking

Project management

Stakeholder management

Education

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

Job description

About the Role

Our client is seeking an innovative and strategic Insurance Product Developer to join their team in **Benoni, Gauteng**. This hybrid role is responsible for the design, development, and management of new insurance products, as well as the enhancement of existing offerings. You will collaborate closely with actuarial, underwriting, marketing, and legal teams to ensure products meet market needs, are profitable, and comply with regulatory requirements. This is a high-impact role within the **insurance** sector, offering the opportunity to shape the future of our client's product portfolio in **Gauteng**. You will be instrumental in driving competitive advantage through innovative and customer-centric insurance solutions.

Key Responsibilities

• Conceptualize, design, and develop new insurance products from market research to launch.
• Analyze market trends, competitor offerings, and customer feedback to identify product opportunities.
• Collaborate with actuarial teams to ensure product pricing and reserving are appropriate.
• Work with underwriting to define policy terms, conditions, and guidelines.
• Develop product specifications, marketing materials, and training documentation.
• Ensure all product development adheres to relevant regulatory frameworks and compliance standards.
• Manage the product lifecycle, including product enhancements and discontinuations.
• Monitor product performance and profitability, making recommendations for improvement.
• Present product proposals and updates to senior management and stakeholders.

Requirements

• A Bachelor's degree in Actuarial Science, Finance, Business Administration, or a related field.
• Significant experience in insurance product development or management.
• Strong understanding of insurance principles, market dynamics, and regulatory environments.
• Excellent analytical, strategic thinking, and project management skills.
• Proficiency in data analysis and interpretation.
• Strong communication, negotiation, and stakeholder management abilities.
• Experience working in a hybrid model is beneficial.
• Knowledge of the **Gauteng** insurance market is an advantage.
• Professional qualifications such as ACII or equivalent are highly desirable.

Benefits

• Highly competitive salary and performance-based bonuses.
• Comprehensive medical, retirement, and risk benefits.
• Opportunities for professional growth and leadership development.
• Flexible hybrid work arrangements.
• Generous annual leave and other leave benefits.
• A stimulating and innovative work environment in **Benoni**.
• Exposure to strategic decision-making within the company.