Product Development Executive

JVR Software; Johannesburg; On-site; ZAR 1,000,000 - 1,800,000; Full time

Job summary

Johannesburg-based role within the Life insurance division of a leading insurance company seeks a Product Development Executive. You will drive new product development, leverage analytics to inform solutions, and chair a cross-functional forum.

You will monitor product performance, track regulatory changes, and share learnings through training sessions, while coordinating with marketing and pricing teams to shape product offerings.

Qualifications

• 3–5 years life insurance experience with some managerial exposure.
• Nearly qualified or qualified Actuary.

Responsibilities

• Develop a product development framework that drives the development and implementation of new and innovative life products.
• Leverage analytical capabilities and build tools to extract insights for new product solutions.
• Chair a product development forum to support the product development strategy.
• Monitor existing products to identify gaps and reassess design and structure for stakeholders.
• Keep up-to-date with product regulatory changes, trends and competitor offerings.
• Feed learnings into the business via product training sessions.
• Engage with BI, risk, legal & compliance, underwriting, reinsurance, and other stakeholders to develop product requirements and guides.
• Liaise with marketing on structuring new products and with pricing teams on product review.

Education

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

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

Salary:

• Salary: negotiable.
• Our client is offering a highly competitive salary for this role based on experience.