Specialist: Product Development (Insurance)

AtripleA recruitment & temps

Pretoria

On-site

ZAR 710,892 - 851,508

Full time

14 days+

Application generator

Don’t send a generic resume — generate a resume and cover letter tailored to this exact role.

Get past ATS filters

Job summary

A recruitment agency in Pretoria is seeking a Specialist in Product Development for the long-term insurance sector. The role involves developing and pricing new products, monitoring profitability, and collaborating with various departments. Candidates should have a B Degree in Actuarial Sciences, relevant experience in insurance, and proficiency in Prophet. This position offers a competitive salary in a dynamic environment.

Qualifications

B Degree in Actuarial Sciences.
Passed A-level subjects.
Close to qualification.
Experience with Prophet - Technical Certification.
3-5 years in long-term insurance.
Experience in product development and pricing.

Responsibilities

Assist in development and pricing of new products.
Monitor and maintain profitability of existing products.
Research new market developments and generate product ideas.
Perform pricing for target profitability and expense recoupment.
Collaborate with departments to improve systems and processes.
Monitor in-force data and contribute to assessment of performance.
Research risk rates and maintain relationships with reinsurers.

Job description

Specialist: Product Development_Insurance

Location: Pretoria

Salary: R70 000 (neg)

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.

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