Senior Product Development Manager - Insurance

Placements24; Benoni; Hybrid; ZAR 1,200,000 - 1,900,000; Full time

Benefits offered by this job

Executive salary

Performance bonus

Medical aid

Pension fund

Executive perks

Hybrid work

Job summary

Placements24 is hiring a Senior Product Development Manager in Benoni, Gauteng. You will lead ideation through launch of innovative insurance products, collaborating with actuarial, underwriting, marketing and legal teams to ensure profitability and regulatory compliance.

The role requires strategic thinking, deep insurance knowledge, and strong leadership to drive a product roadmap that meets market needs and supports business growth in a hybrid Benoni setup.

Qualifications

• Master's degree required in Business, Finance, Insurance, Marketing or related field.
• 8+ years in product development/management within the insurance industry.
• Proven track record of launching innovative insurance products.
• Deep understanding of insurance principles, market dynamics and regulatory frameworks.

Responsibilities

• Lead end-to-end product development lifecycle for new insurance products, from ideation to launch.
• Conduct market research and competitive analysis to identify opportunities for product innovation.
• Collaborate with actuarial teams to define pricing strategies and product profitability models.
• Partner with underwriting to develop clear underwriting guidelines and risk appetite for new products.
• Ensure product compliance with regulations in collaboration with the legal department.
• Develop product strategy and roadmap aligned with business objectives.
• Create comprehensive product specifications, documentation, and marketing materials.
• Manage cross-functional project teams to ensure timely product launches.
• Monitor product performance post-launch and implement enhancements.
• Stay updated on industry trends, technologies, and emerging customer needs in insurance.

Skills

Strategic thinking

Analytical skills

Problem solving

Leadership

Communication

Cross-functional collaboration

Agile experience

Education

Master's degree in Business/Finance/Insurance/Marketing

Tools

Product lifecycle management software

Market research tools

Job description

About the Role

Our client, a forward-thinking insurance provider, is seeking a highly strategic and innovative Senior Product Development Manager to lead their product innovation initiatives. This role, based in Benoni, Gauteng, is responsible for conceptualizing, designing, and launching new insurance products that meet market demands and drive business growth. The ideal candidate will possess a strong understanding of the insurance landscape, market trends, customer needs, and regulatory requirements. You will collaborate closely with actuarial, underwriting, marketing, and legal teams to bring cutting-edge products to life. This hybrid role offers a fantastic opportunity to shape the future of our client's offerings in the competitive Gauteng market and beyond.

Key Responsibilities

• Lead the end-to-end product development lifecycle for new insurance products, from ideation to launch.


• Conduct market research and competitive analysis to identify opportunities for product innovation.


• Collaborate with actuarial teams to define pricing strategies and product profitability models.


• Work with underwriting teams to develop clear underwriting guidelines and risk appetite for new products.


• Ensure product compliance with all relevant regulations and legal requirements in collaboration with the legal department.


• Develop product strategy and roadmap aligned with the company's overall business objectives.


• Create comprehensive product specifications, documentation, and marketing materials.


• Manage cross-functional project teams to ensure timely and successful product launches.


• Monitor product performance post-launch and implement necessary adjustments or enhancements.


• Stay abreast of industry trends, technological advancements, and emerging customer needs in the insurance sector.

Requirements

• Master's degree in Business, Finance, Insurance, Marketing, or a related field.


• A minimum of 8 years of experience in product development, product management, or a related role within the insurance industry.


• Proven track record of successfully launching innovative insurance products.


• Deep understanding of insurance principles, market dynamics, and regulatory frameworks.


• Exceptional strategic thinking, analytical, and problem-solving skills.


• Strong leadership and project management capabilities, with experience managing cross-functional teams.


• Excellent communication, presentation, and interpersonal skills.


• Proficiency in market research tools and product lifecycle management software.


• Ability to influence stakeholders at all levels of the organization.


• Experience with agile development methodologies is a plus.


• Must be able to commute to the Benoni, Gauteng office for hybrid work arrangements.

Benefits

• Our client offers a highly competitive executive salary, performance bonuses, and a comprehensive benefits package including executive medical aid, pension fund, and other executive-level perks.


• This hybrid role provides the flexibility to balance remote work with essential in-office collaboration in Benoni, Gauteng.


• Opportunities for continuous professional development, executive training, and leadership advancement are abundant.


• Join a company that values innovation and strategic thinking, offering a challenging yet rewarding career path.