Product Development Executive

Hire Resolve; Johannesburg; On-site; ZAR 900,000 - 1,200,000; Full time

Job summary

A leading insurance company is seeking a Product Development Executive in Johannesburg. You will develop frameworks for innovative life insurance products and leverage analytics to extract insights for new solutions. This role requires 3-5 years in life insurance, managerial experience, and a degree in Actuarial Science or related fields. Join a technically strong, detail-oriented team that values collaboration and innovation.

Qualifications

• 3-5 years of experience in life insurance with managerial experience.
• Experience in product development, pricing, and analytics is advantageous.

Responsibilities

• Develop a product development framework for new life products.
• Monitor existing products to identify gaps.
• Engage with internal stakeholders to develop product requirements.
• Liaise with the marketing team on new products.
• Engage with BI, risk, legal & compliance, underwriting, reinsurance and other teams to define product requirements and guides
• Collaborate with marketing on product structuring and with pricing teams for terms

Skills

Product development framework

Analytical capabilities

Stakeholder engagement

Life insurance knowledge

Collaborative team skills

Education

Bachelor's degree in Actuarial Science, Mathematics, Statistics or a related field

Nearly qualified or qualified Actuary

Job description

A leading insurance company is on the lookout for a Product Development Executive to join their team in Johannesburg.

In this role, you will be within the Life insurance division. The team is both technically and analytically strong as well as innovative and outside-of-the-box thinkers! The team thrive on collaboration and being detail orientated.

Key requirements:

• Develop a product development framework that will drive the development and implementation of new and innovative group and Individual life products.
• Leverage analytical capabilities and build intelligent tools to extract insights required to develop new product solutions.
• Chair a product development forum that leverages the skillsets within the business to support the product development strategy.
• Continuously monitor existing products to identify gaps and the ongoing appropriateness of the original product design and structure, presenting results to stakeholders.
• Keep abreast of product-related regulatory changes, new product and industry trends and competitor offerings.
• Feed these learnings and information into the business by means of product training and information-sharing sessions.
• Engage with business intelligence, risk, legal & compliance, underwriting, reinsurance, and other internal stakeholders to develop product requirements, and product guides and provide input into terms and conditions.
• Liaise with the marketing team on the structuring of new products.
• Liaise with the structuring & solutions team on the pricing and review of new products in line with any regulatory and professional guidelines

Experience:

• 3 – 5 years’ life insurance working experience with some managerial experience
• Product development, pricing and analytics experience will be an advantage

Education & certificates:

• Nearly qualified or qualified Actuary
• Bachelor's degree in Actuarial Science, Mathematics, Statistics or a related field