Specialist: Product Development

AtripleA recruitment & temps; Pretoria; On-site; ZAR 500,000 - 700,000; Full time

Job summary

A leading recruitment firm is seeking a Specialist in Product Development in Pretoria. You'll assist in developing and pricing new insurance products while monitoring profitability. Requirements include a B Degree in Actuarial Sciences, Prophet experience, and 3-5 years in long-term insurance. You'll collaborate across departments and contribute to reinsurance treaty maintenance. Email your CV and payslip to apply. Competitive package offered.

Qualifications

• 3 to 5 years experience in long-term insurance.
• Close to qualification.
• Technical Certification in Prophet.

Responsibilities

• Assist in developing and pricing products in the insurance sector.
• Monitor and maintain profitability of new and existing products.
• Prepare actuarial certificate from Statutory Actuary.

Skills

Prophet experience

Product development

Competitor analysis

Communication skills

Education

B Degree in Actuarial Sciences

Passed the A-level subjects

Job description

Our client in the long term insurance sector is looking for a Specialist in Product Development to assist in development and pricing of new products, and monitor and maintain the profitability of new and existing products.

Description

Assist in developing and pricing products & System design (Individual Life, Direct Marketing and Group Schemes)

• Research of new market developments and generation of new product ideas
• Competitor analysis and feedback from sales staff are used to indicate areas where product development is required
• Research product feasibility including administration requirements
• Check compatibility with business ethics
• Assist in the finalization of recommendations to the Life Actuarial Committee
• Perform pricing for target profitability and expense recoupment and assist in the obtaining of Actuarial Certificate from Statutory Actuary.
• Prophet work done with Actuarial Valuations department.
• Ensure final pricing and product offering will be market competitive (TCF)
• Assist with operational matters around product rollouts application forms, quote package and administration system readiness
• Collaborate with other departments (like Client Services, Underwriting and Client Services) to improve systems and processes
• Maintain open relationship and interaction with the sales field
• Develop sales aids, marketing concepts and presentations to support sales
• Price group funeral cover

Monitoring of in-force business

• Monitor and analyse in-force data
• Perform experience analysis based on report received from reinsurers and valuations department to confirm lapse assumptions and mortality/morbidity assumptions
• Develop amendment bases for changes to in-force business
• Monitor and maintain value of in-force business
• Contribute to the assessment of performance of group schemes and recommend actions when needed
• Report to management

Maintenance of reinsurance treaties

• Research risk rates and reinsurance terms available in the market - including the use of financial reinsurance
• Oversee that data and information are provided to reinsurers for special projects
• Maintain relationship with current and potential future reinsurers
• Contribute to ensure that optimal levels of reinsurance are in place

Provide professional input & support to the Group

• Answer client queries of a technical nature that was escalated by staff members
• Attend to ombudsman queries of a technical nature
• Assist with amendments to policies where support is requiredAnswer values and product related queries from other departments

Requirements

• B Degree Actuarial Sciences
• Passed the A-level subjects
• Close to qualification
• Prophet experience - Technical Certification
• 3 to 5 years in long-term insurance
• Product development and pricing

Send your CV and latest pay slip to [e-mail]

ATripleA Recruitment and Temps

www.aaaa.co.za