Insurance Product Developer - Sandton

Placements24; Sandton; On-site; ZAR 900,000 - 1,300,000; Full time

Benefits offered by this job

Competitive salary

Performance bonus

Medical cover

Pension plan

Job summary

Placements24 is seeking an experienced Insurance Product Developer to design, develop, and launch new insurance products in Sandton, Gauteng. You will collaborate with actuarial, underwriting, legal, and marketing teams to ensure profitable, customer-centric offerings while navigating regulatory frameworks.

This office-based role sits in Sandton’s business district, offering growth and leadership opportunities in the Gauteng insurance market.

Qualifications

• Proven experience in insurance product development, management, or related strategic role.
• Deep knowledge of life, short-term, health insurance lines and market dynamics.
• Strong analytical, strategic thinking and problem-solving abilities.
• Excellent collaboration and communication skills, with ability to influence cross-functional teams.
• Understanding of SA insurance regulations and compliance requirements.
• MBA or advanced degree is a plus.

Responsibilities

• Lead end-to-end development lifecycle of new insurance products from concept to launch.
• Conduct comprehensive market research, competitor analysis and customer needs assessment.
• Collaborate with actuarial teams to ensure pricing adequacy and profitability.
• Work with underwriting teams to define risk appetite and guidelines for new products.
• Ensure all new products comply with regulatory requirements and legal frameworks.
• Develop product documentation, including policy wordings and marketing materials, with legal and marketing.
• Liaise with IT and operations teams for system implementation and rollout.
• Monitor product performance post-launch and identify opportunities for improvement.

Skills

Insurance product development

Market research

Cross-functional collaboration

Regulatory compliance

Education

Bachelor's degree in Business/Finance/Marketing

Job description

About the Role

Our client, a forward-thinking insurance company, is seeking an innovative and experienced Insurance Product Developer to join their team in Sandton, Gauteng. This strategic role is responsible for the design, development, and launch of new insurance products, as well as the enhancement of existing offerings. You will conduct market research, analyze competitor products, and collaborate with actuarial, underwriting, legal, and marketing teams to bring profitable and customer-centric products to market. This is an office-based position, situated in the heart of Sandton's business district. The ideal candidate will possess a deep understanding of the insurance market, strong analytical skills, and a creative approach to product innovation. This is a key role for driving growth and competitive advantage within the Gauteng insurance sector.

Key Responsibilities

• Lead the end-to-end development lifecycle of new insurance products from concept to launch.
• Conduct comprehensive market research, competitor analysis, and customer needs assessment.
• Collaborate with actuarial teams to ensure pricing adequacy and profitability.
• Work with underwriting teams to define risk appetite and guidelines for new products.
• Ensure all new products comply with regulatory requirements and legal frameworks.
• Develop product documentation, including policy wordings and marketing materials, in conjunction with legal and marketing.
• Liaise with IT and operations teams for system implementation and rollout.
• Monitor product performance post-launch and identify opportunities for improvement.

Requirements

• Proven experience in insurance product development, management, or a related strategic role.
• In-depth knowledge of various insurance lines (e.g., life, short-term, health) and market dynamics.
• Strong analytical, strategic thinking, and problem-solving capabilities.
• Excellent collaboration and communication skills, with the ability to influence cross-functional teams.
• Understanding of insurance regulations and compliance requirements in South Africa.
• Bachelor's degree in Business, Finance, Marketing, Actuarial Science, or a related field. An MBA or advanced degree is a plus.
• Experience working within the Sandton or broader Gauteng financial services hub.
• Ability to work effectively in a demanding, results-driven environment.

Benefits

• Our client offers a highly competitive salary, attractive bonus structure, comprehensive medical and retirement plans, and significant career advancement opportunities. Work in a modern office environment in Sandton, contributing to cutting-edge product development within the insurance industry.