Insurance Product Development Manager

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

Benefits offered by this job

Hybrid work model

Medical and retirement benefits

Growth opportunities

Impact in Benoni products

Job summary

Placements24 in Benoni, Gauteng, seeks an Insurance Product Development Manager to lead the creation and enhancement of the product portfolio. You will work cross-functionally with actuarial, underwriting, marketing, and sales teams to design and launch profitable insurance products within regulatory requirements and market needs.

You will drive lifecycle management from concept to market, monitor performance, and develop training materials to support sales.

Qualifications

• Bachelor's degree in Business, Marketing, Finance, Actuarial Science or related field.
• Minimum 5 years of experience in insurance product development or management.
• Strong understanding of the South African insurance market and regulatory frameworks.

Responsibilities

• Lead development and launch of new insurance products from concept to market.
• Conduct market research and competitor analysis to identify opportunities and gaps.
• Define product strategy, features, pricing, and positioning with relevant departments.
• Ensure compliance with regulatory standards and risk appetites.
• Manage product lifecycle, including performance monitoring and enhancements.
• Develop training materials and support sales teams in selling new products.

Skills

Project management

Analytical

Strategic thinking

Communication

Stakeholder management

Education

Bachelor's degree in Business/Marketing/Finance/Actuarial Science

Job description

About the Role

Our client is seeking an innovative and strategic Insurance Product Development Manager to lead the creation and enhancement of their insurance product portfolio in Benoni . This role requires a deep understanding of market needs, competitive landscapes, and regulatory requirements to design and launch profitable insurance products. You will work cross-functionally with actuarial, underwriting, marketing, and sales teams to ensure successful product lifecycle management. This is an exciting opportunity to shape the future of our client's offerings in the competitive Gauteng insurance market.

Key Responsibilities

• Lead the development and launch of new insurance products from concept to market.
• Conduct market research and competitor analysis to identify product opportunities and gaps.
• Define product strategy, features, pricing, and positioning in collaboration with relevant departments.
• Ensure all new products comply with regulatory standards and internal risk appetites.
• Manage the product lifecycle, including performance monitoring, enhancements, and eventual discontinuation.
• Develop training materials and support sales teams in effectively selling new products.

Requirements

• Bachelor's degree in Business, Marketing, Finance, Actuarial Science, or a related field.
• Minimum of 5 years of experience in insurance product development or management.
• Proven ability to develop and launch successful insurance products.
• Strong understanding of the South African insurance market, including regulatory frameworks.
• Excellent project management, analytical, and strategic thinking skills.
• Effective communication and stakeholder management abilities across diverse teams.

Benefits

• Highly competitive salary and performance-based bonus.
• Hybrid work model offering a blend of office and remote flexibility.
• Comprehensive medical and retirement benefits.
• Significant opportunities for professional growth and leadership.
• Be instrumental in shaping the future of insurance products in Benoni .