Product Manager - Insurance at The Foschini Group

The Foschini Group; Parow; On-site; ZAR 450,000 - 750,000; Full time

Job summary

A leading company in the insurance sector is seeking a skilled product manager to drive financial objectives and product innovation. This role involves managing the full product lifecycle, ensuring compliance, and enhancing product offerings to achieve growth and profitability. Candidates should possess a relevant degree and significant experience in financial services or insurance.

Benefits

Flexible Work Hours

Group Risk Cover

Employee Wellbeing Program

Staff Discount

Access To Learning Platforms

Diverse Culture

Qualifications

• 5 - 7 years of experience in financial services/insurance.
• Experience in Omnichannel Product Development.
• Strong knowledge of insurance markets and regulatory requirements.

Responsibilities

• Manage product lifecycle from conceptualization to launch.
• Conduct market research and competitive analysis.
• Ensure compliance with relevant legislation.

Skills

Agile delivery

Negotiation

Commercial understanding

Customer Market Awareness

Collaborative Skills

Education

Diploma or degree in Business/Finance

Job description

Package & Remuneration
JOB DESCRIPTION

Role Overview:

The main purpose of the job is to deliver financial objectives and product innovation that contributes to the overall profitability of the insurance portfolio. By managing products this incumbent will ensure effective risk management and product management with the relevant compliance frameworks.

Key Responsibilities

• Accountable for product /strategy by ensuring that relevant marketing strategies and plans are in place for their product to achieve overall competitive advantage and profitability.
• Manage the end-to-end product lifecycle, from conceptualization to launch, for key initiatives within our product portfolio.
• Budget Management
• Conduct market research, competitive analysis, and customer feedback to identify opportunities and inform product decisions
• Ensure compliance with the relevant legislation (e.g. FAIS, CPA, POPI, NCA etc)
• Ensure adequate risk management to monitor solvency of products and cell captive [i.e., where we pay claims] and proactively implement action plans.
• Enhance the product and distribution channels as well as identify new opportunities to grow the existing product.
• Influence and negotiate with internal and external business partners / providers [e.g. Guardrisk]
• Ensure effective communication strategies are implemented and aligned to the product plan with the policy holders [i.e. customers]
• Achieve growth/profit targets for the products by enhancing communication channels between the stakeholders [i.e. contact centre and stores] to maximize business requirements, processes and efficiencies.
• Provide strategic support to the insurance manager and product team [i.e. legal advisor, underwriters and claims administration].
• Ensure execution with the agreed product strategy to ensure brand objectives are met.
• Ensure adhoc business projects are executed within the agreed timelines

Requirements:

• Diploma or degree in Business/Finance or related Degree in the industry that the Product serves.
• Training in Agile delivery
• 5 - 7 years of experience working in the financial services/insurance industry
• Experience in Omnichannel Product Development and Scalability.
• Demonstrated success in defining and launching products that meet and exceed business objectives
• Deep Product Knowledge and/or Subject Matter Expertise in Applications and embedding these in key customer markets
• Strong knowledge of insurance markets, underwriting, and regulatory requirements
• Astute Customer Market Awareness
• Excellent Collaborative Skills
• Proven ability to influence cross-functional teams without formal authority
• Commercial & Financial understanding

BENEFITS:

• Diverse Culture
• Flexible Work Hours
• Group Risk Cover
• Employee Wellbeing Program
• Staff Discount
• Access To Learning Platforms

Preference will be given, but not limited to candidates from designated groups in terms of the Employment Equity Act.