Insurance Product Development Specialist

Placements24; Sandton; Hybrid; ZAR 900,000 - 1,200,000; Full time

Benefits offered by this job

Hybrid work model

Health, dental & vision insurance

Retirement savings plan

Professional growth opportunities

Competitive salary

Job summary

Placements24 in Sandton is looking for an innovative Insurance Product Development Specialist to drive the creation and enhancement of insurance offerings. You will analyze market needs, regulatory changes, and competitor strategies to design competitive products.

You will collaborate with underwriting, actuarial, marketing and legal teams, manage the product lifecycle from concept to launch, and ensure regulatory compliance in a hybrid work model.

Qualifications

• Proven experience in insurance product development, management, or a related insurance role.
• Strong understanding of insurance principles, market dynamics, and regulatory frameworks.
• Excellent analytical, research, and problem-solving skills.
• Ability to translate market insights into viable product concepts.
• Strong project management and cross-functional collaboration skills.
• Experience working within a hybrid employment model is required.

Responsibilities

• Research and analyze market trends, customer needs, and competitor offerings to identify product opportunities.
• Design and develop new insurance products, including policy features, terms, and pricing strategies.
• Collaborate with actuarial and underwriting teams to ensure product viability and profitability.
• Ensure all product development adheres to legal and regulatory requirements.
• Develop product documentation, including policy wordings, marketing materials, and training guides.
• Manage the product lifecycle from concept through launch and ongoing performance monitoring.

Skills

Insurance product development

Analytical skills

Cross-functional collaboration

Regulatory knowledge

Project management

Job description

About the Role

Our client is seeking an innovative and market-aware Insurance Product Development Specialist to drive the creation and enhancement of their insurance offerings in Sandton . This role is central to understanding market needs, competitor strategies, and regulatory changes to design competitive and profitable insurance products. You will collaborate cross-functionally with underwriting, actuarial, marketing, and legal teams to bring new products to life and refine existing ones. This position offers a hybrid work arrangement, blending strategic ideation and collaboration in the Sandton office with focused analysis and documentation remotely.

Key Responsibilities

• Research and analyze market trends, customer needs, and competitor offerings to identify product opportunities.
• Design and develop new insurance products, including policy features, terms, and pricing strategies.
• Collaborate with actuarial and underwriting teams to ensure product viability and profitability.
• Ensure all product development adheres to legal and regulatory requirements.
• Develop product documentation, including policy wordings, marketing materials, and training guides.
• Manage the product lifecycle from concept through launch and ongoing performance monitoring.

Requirements

• Proven experience in insurance product development , management, or a related insurance role.
• Strong understanding of insurance principles, market dynamics, and regulatory frameworks.
• Excellent analytical, research, and problem-solving skills.
• Ability to translate market insights into viable product concepts.
• Strong project management and cross-functional collaboration skills.
• Experience working within a hybrid employment model is required.

Benefits

• Attractive salary package commensurate with experience and contributions.
• Hybrid work model providing flexibility for both in-office and remote work.
• Comprehensive health, dental, and vision insurance benefits.
• Retirement savings plan with company contributions.
• Opportunities for professional growth and to shape the future of insurance products.