Product Analyst

Sanlam Limited; Sandton; On-site; ZAR 400 000 - 600 000; Full time

Job summary

A leading insurance company is seeking a Product Analyst based in Sandton, Johannesburg. This role involves designing and analyzing insurance products, conducting market research, and supporting pricing strategies. The candidate should have a Bachelor's degree in a risk/insurance related field and 3-5 years of relevant experience. Key skills include product management, analytical thinking, and market trend analysis. The company offers opportunities for growth and values diversity and inclusion in its workplace.

Qualifications

• 3-5 Years experience in a similar role essential.

Responsibilities

• Assist in designing and refining insurance products for personal and commercial lines.
• Support pricing and underwriting strategies through actuarial and market analysis.
• Ensure compliance with regulatory requirements across multiple insurance business partners.
• Research market trends, competitor offerings, and emerging risks.

Skills

Product Analysis and management

Business acumen

Analytical Thinking

Attention to detail

Problem solving

Market research and trend analysis

Strong MS Office (Excel, Word, Power Point)

Education

Bachelor degree in a risk and/or insurance related degree

Job description

Responsible for the design of products of medium complexity. The incumbent is involved in market research, then conducts a business viability study before the final product design is finalized. Project management competencies are essential. Ensures that all new and existing product formulations and processes are and remain cost effective and consumer-relevant. Keeps up to date with and ensures compliance of products to relevant legislation. Keeps up to date with developments in technology and recommends product/process improvements.

CAREER OPPORTUNITY

We have an exciting opportunity for a suitable candidate to perform the role of Product Analyst. This role is based in Sandton, Johannesburg and will form part of our Strategic Partnerships team.

PRINCIPLE ACCOUNTABILITIES INCLUDE:

The Product Analyst role will be responsible for sourcing and analysing market trends within partners and aligning those to insurance, customer needs, product monitoring (performance and governance reporting), product improvements and customer value proposition.

The below is not an exhaustive list but illustrates the key elements of the role:

• Assist in designing and refining insurance products for personal and commercial lines.
• Support pricing and underwriting strategies through actuarial and market analysis.
• Ensure compliance with regulatory requirements across multiple insurance business partners.
• Market research & competitive analysis.
• Research market trends, competitor offerings, and emerging risks.
• Recommend product enhancements or new product opportunities based on insights.
• Work closely with underwriting, actuarial, marketing, and teams from business partners.
• Communicate findings and recommendations to stakeholders to guide strategic decisions.
• Track and analyse key business metrics to improve profitability and customer satisfaction.
• Identify areas for operational efficiency and product innovation.

QUALIFICATIONS AND EXPERIENCE

• Bachelor degree in a risk and/or insurance related degree ideal.
• 3-5 Years experience in a similar role essential.

SKILLS

• Product Analysis and management
• Business acumen
• Analytical Thinking
• Attention to detail
• Pragmatism
• Problem solving
• Strategic thinking
• Systems thinking
• Navigating ambiguity
• Effective communication
• Demonstrating courage and grit
• Market research and trend analysis
• Concept design and storytelling
• Development of technical product specifications
• Strong MS Office (Excel, Word, Power Point)
• Knowledge of underwriting practices
• Ability to translate business requirements into technical specifications
• Ability to articulate client needs in terms of product features
• Basic project management and administration skills

COMPETENCIES

• Collaboration
• Client focus
• Flexibility and adaptability
• Cultivates Innovation
• Strong communication skills
• Ability to manage stakeholder relationships
• Product strategy
• Project planning
• Knowledge management
• Reporting and Administration

Build a successful career with us

We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth.Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

Who are we?

Santam is the market leader in the general insurance industry in Southern Africa. As a large, diversified, and expanding company, we are committed to transformation and growth. While our headquarters are in South Africa, we are rapidly extending our presence into emerging markets across Africa and Asia.

With a client base of over 1 million policyholders, Santam serves individuals, commercial enterprises, specialist business owners, and institutions—including 80 of the Top 100 companies listed on the JSE. Our commitment to Insurance, Good and Proper goes beyond just providing cover—we offer peace of mind, ensuring our clients can focus on living in the moment, not worrying about the unexpected. Because at Santam, we believe the freedom to seize every day is worth protecting.

People drive our business, and we are committed to attracting the best talent, whether for permanent roles or short-term opportunities.

Santam is committed to diversity, inclusion, and belonging. As an equal opportunity employer, we encourage applications from candidates of all backgrounds, including persons with disabilities. We are dedicated to neuro-inclusivity and fostering a workplace where everyone can thrive.

Take the next step in your career—apply now and be part of a company that’s shaping the future of insurance. This is Freedom!