Insurance Product Development Specialist

Placements24; Vereeniging; Hybrid; ZAR 600,000 - 900,000; Full time

Benefits offered by this job

Performance bonuses

Hybrid work

Health benefits

Career development

Impact on insurance

Job summary

Placements24 in Vereeniging seeks an innovative Insurance Product Development Specialist to conceptualize, design, and launch new insurance products. You will work closely with actuarial, marketing, and sales teams to ensure products are competitive, profitable, and compliant in the South African market.

This hybrid role offers a dynamic work environment, opportunities to shape the future of insurance offerings in Gauteng, and a clear path for career growth through cross-functional collaboration

Qualifications

• Bachelor's degree in a related field.
• Proven experience in insurance product development or similar role.
• Strong understanding of the insurance lifecycle and market dynamics.
• Excellent analytical and project management skills.
• Effective cross-functional collaboration abilities.
• Familiarity with South Africa insurance regulations.

Responsibilities

• Identify opportunities for new insurance products through market research.
• Design product features, pricing, and policy wordings.
• Collaborate with actuarial, marketing, and sales teams to ensure viability and profitability.
• Develop go-to-market strategies and launch materials.
• Ensure regulatory compliance and industry standards.
• Monitor and improve existing products.

Skills

Insurance product development

Market research

Strategic thinking

Project management

Communication

Education

Bachelor's degree in Business/Finance/Marketing

Job description

About the Role

Our client is looking for an innovative and strategic Insurance Product Development Specialist to join their team in Vereeniging . This role is responsible for conceptualizing, designing, and launching new insurance products and enhancing existing ones to meet evolving market demands and customer needs. You will work closely with actuarial, marketing, and sales teams to ensure products are competitive, profitable, and compliant. This hybrid position offers a dynamic work environment, blending in-office collaboration with remote flexibility, contributing to the company's growth and market leadership in Gauteng .

Key Responsibilities

• Conduct market research and analysis to identify opportunities for new insurance products.
• Design product features, benefits, pricing structures, and policy wordings.
• Collaborate with actuarial teams to ensure financial viability and risk adequacy of new products.
• Develop go-to-market strategies and support materials for product launches.
• Ensure all product designs comply with regulatory requirements and industry standards.
• Monitor the performance of existing products and recommend improvements or adjustments.

Requirements

• Bachelor's degree in Business, Finance, Marketing, or a related field.
• Proven experience in insurance product development, management, or a similar role.
• Strong understanding of the insurance lifecycle, market dynamics, and customer needs.
• Excellent analytical, strategic thinking, and project management skills.
• Effective communication and interpersonal skills for cross-functional collaboration.
• Familiarity with regulatory frameworks governing the insurance industry in South Africa.

Benefits

• Competitive salary and performance-based bonuses.
• Hybrid work model providing flexibility.
• Comprehensive health and wellness benefits.
• Opportunities for career growth and professional development.
• A stimulating role in shaping the future of insurance offerings in Vereeniging .