Insurance Product Development Manager

Placements24; Mossel Bay; On-site; ZAR 1,500,000 - 2,000,000; Full time

Benefits offered by this job

Executive compensation package

Performance bonus

Medical aid

Job summary

Placements24 in Mossel Bay, Western Cape, seeks an Insurance Product Development Manager to lead innovation across insurance product lines. The role requires strategic thinking and deep market knowledge to shape lifecycle from ideation to retirement.

The successful candidate will drive pricing, profitability modeling, and regulatory alignment while collaborating with underwriting, claims, marketing, sales, and IT teams.

Qualifications

• MBA or related field desirable.
• 7–10 years in insurance product development, management, or strategy.

Responsibilities

• Spearhead development and launch of innovative insurance products across lines of business.
• Conduct market research, competitor analysis, and customer needs assessments to identify opportunities.
• Define product strategy, roadmaps, and business requirements with stakeholders.
• Oversee pricing, profitability analysis, and financial modeling.
• Ensure compliance with regulatory requirements and legal frameworks.
• Collaborate with underwriting, claims, marketing, sales and IT to implement products.
• Develop go-to-market strategies and supporting materials for launches.
• Monitor post-launch performance and propose improvements.
• Manage product lifecycle, including enhancements and retirements.
• Stay abreast of industry trends and emerging technologies.

Skills

Strategic thinking

Analytical abilities

Leadership

Cross-functional collaboration

Project management

Stakeholder management

Pricing knowledge

Regulatory knowledge

Market research

Education

MBA or related field

Tools

Market analysis tools

Product lifecycle management

Job description

About the Role

Our client, a forward-thinking and innovative insurance provider, is seeking a strategic and results-oriented Insurance Product Development Manager to lead their product innovation efforts in Mossel Bay, Western Cape . This senior role requires a deep understanding of the insurance market, customer needs, and regulatory landscapes to design, develop, and launch new and improved insurance products. The successful candidate will be responsible for the entire product lifecycle, from ideation and market research to pricing, implementation, and performance monitoring. This is a fantastic opportunity to shape the future of our client's product offerings and drive market competitiveness. We are looking for a visionary leader to champion new initiatives.

Key Responsibilities

• Spearhead the development and launch of innovative insurance products across various lines of business.
• Conduct comprehensive market research, competitor analysis, and customer needs assessments to identify product opportunities.
• Define product strategy, roadmap, and business requirements in collaboration with stakeholders.
• Oversee product pricing, profitability analysis, and financial modeling.
• Ensure compliance with all relevant regulatory requirements and legal frameworks.
• Collaborate closely with underwriting, claims, marketing, sales, and IT teams to ensure successful product implementation.
• Develop go-to-market strategies and support materials for new product launches.
• Monitor product performance post-launch, analyzing key metrics and making recommendations for improvements.
• Manage the product lifecycle, including product enhancements and eventual retirement.
• Stay abreast of industry trends, emerging technologies, and evolving customer expectations to maintain a competitive edge.

Requirements

• A Master's degree in Business Administration (MBA), Marketing, Finance, or a related field is highly desirable.
• A minimum of 7-10 years of progressive experience in insurance product development, management, or strategy.
• Proven track record of successfully launching and managing profitable insurance products.
• In-depth knowledge of insurance markets, product design principles, and regulatory environments.
• Strong understanding of pricing, reserving, and actuarial concepts.
• Excellent strategic thinking, analytical, and problem-solving skills.
• Exceptional leadership, project management, and cross-functional collaboration abilities.
• Outstanding communication, presentation, and stakeholder management skills.
• Proficiency in market analysis tools and product lifecycle management methodologies.
• Adaptability and a passion for innovation in the insurance sector.

Benefits

• Our client offers an attractive executive-level salary package, complemented by a comprehensive performance bonus and long-term incentive plan.
• A superior benefits package includes top-tier medical aid, a substantial provident fund, and generous leave allowances.
• This role presents significant opportunities for career growth and leadership development within a respected insurance organization.
• The working environment in the beautiful coastal town of Mossel Bay is inspiring and dynamic, fostering creativity and collaboration.
• Employees benefit from state-of-the-art facilities and a company culture that values innovation and employee well-being.
• This is a chance to make a tangible impact.