Insurance Product Development Specialist

Placements24; Cape Town; Hybrid; ZAR 800,000 - 1,100,000; Full time

Benefits offered by this job

Flexible remote work arrangement

Bonus structure

Professional growth opportunities

Job summary

Placements24 in South Africa seeks an Insurance Product Development Specialist to conceptualize and launch new insurance products. The role involves identifying market needs, designing competitive offerings, and guiding product implementation from a flexible remote base, collaborating with marketing, underwriting, actuarial, and legal teams across the Northern Cape region.

This unique opportunity favors strategic, creative thinkers who balance profitability with regulatory compliance and

Qualifications

• Bachelor's degree in Business, Marketing, Finance, or related field.
• Proven experience in insurance product development or related role.
• Strong understanding of insurance markets, customer needs, and competitive landscapes.
• Excellent analytical, strategic thinking, and problem-solving skills.
• Ability to work effectively in a remote setting, managing projects autonomously.

Responsibilities

• Conduct market research and competitor analysis to identify opportunities for new insurance products.
• Design and develop innovative insurance products, including coverage features, pricing structures, and policy wordings.
• Collaborate with actuarial and underwriting teams to ensure product viability and profitability.
• Work with legal and compliance teams to ensure all products meet regulatory requirements.
• Develop product launch plans and support marketing and sales teams in product rollout.
• Monitor the performance of existing products and recommend enhancements or modifications.
• Stay updated on industry trends and emerging customer needs in the insurance sector.

Skills

Analytical thinking

Strategic thinking

Cross-functional collaboration

Stakeholder influence

Education

Bachelor's degree in Business/Marketing/Finance or related field

Job description

About the Role

Our client is seeking an innovative and strategic Insurance Product Development Specialist to conceptualize and launch new insurance products from their Upington base. This role is critical in identifying market needs, designing competitive offerings, and ensuring successful product implementation across the Northern Cape . You will collaborate closely with marketing, underwriting, actuarial, and legal teams to bring cutting-edge insurance solutions to market. This is a unique opportunity for a creative thinker to shape the future of insurance products in a growing market.

Key Responsibilities

• Conduct market research and competitor analysis to identify opportunities for new insurance products.
• Design and develop innovative insurance products, including coverage features, pricing structures, and policy wordings.
• Collaborate with actuarial and underwriting teams to ensure product viability and profitability.
• Work with legal and compliance teams to ensure all products meet regulatory requirements.
• Develop product launch plans and support marketing and sales teams in product rollout.
• Monitor the performance of existing products and recommend enhancements or modifications.
• Stay updated on industry trends and emerging customer needs in the insurance sector.

Requirements

• Bachelor's degree in Business, Marketing, Finance, or a related field.
• Proven experience in insurance product development , management, or a closely related role.
• Strong understanding of insurance markets, customer needs, and competitive landscapes.
• Excellent analytical, strategic thinking, and problem-solving skills.
• Proficiency in project management and cross-functional collaboration.
• Strong written and verbal communication skills, with the ability to influence stakeholders.
• Ability to work effectively in a remote setting, managing projects autonomously.

Benefits

• Highly competitive salary and bonus structure.
• Flexible remote work arrangement, offering significant autonomy.
• Comprehensive health, dental, and vision insurance.
• Opportunities for professional growth and development in product innovation.
• A stimulating and collaborative environment focused on creating market-leading insurance products in the Northern Cape .