Product Development Specialist - Johannesburg Verfied

Salary Negotiable Johannesburg, Gauteng Johannesburg, Gauteng more than 14 days ago 04-03-2018 3:20:22 PM
29-04-2018 3:20:22 PM
Product Development Specialist
Midrand

Support product development within an Insurance operation. This role requires one to think outside the box of the stereotypical short-term insurance market and understand the uniqueness of clients and business.

Level : Middle Management
Report to: Actuarial

Key Performance Areas
• Delivering new products and optimising current existing products
• Manage Products’ Key Performance Indicators (KPIs), including:
o Take-up Rates
o Loss Ratio’s
o Lapse Rates
• Drive sales volume through product support
• Presenting of products to relevant stakeholders

Minimum Qualifications and Experience
• Undergraduate degree in Actuarial Science
• Passed all A1 and A2 series subjects (A3 and A4 level passes will be advantageous)
• Minimum of 3-4 years’ experience (1-2 years of short-term insurance experience will be advantageous)

Competencies and skills
• Sound understanding of Insurance Operations and Insurance Processes
• Good project management skills
• Work accurately and quickly
• Self-belief, good communication, strong interpersonal skills with ability to work effectively as part of a team, dealing with people on all levels
• Ability to prioritise, while remaining flexible to deal with changing work demands
• Flexible, adaptable and excited about working in a dynamic non-conventional environment

Key Performance Areas
1. Delivering new products and optimising current existing products
• 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
• Deliver and implement new products at a high efficiency level – liaising between different divisions and departments ensuring all aspects of the new products have been considered and are being attended to, including: wordings, marketing, system development and reporting.
• Review and refine current products in terms of both profitability, persistency and their ability to meet clients’ needs relative to competitor alternatives
2. Manage Products Performance
• Monitor and analyse in-force data (e.g. perform an experience analysis) to confirm product key performance indicators such as: take-up rates, cancellation rates, and lapse rates
• Provide input into the control cycle based on the above results, through recommendations to product design etc to ensure product KPIs remain within set target limits
3. Drive sales volume through product support
• Support business, marketing and sales around the products:
o By being available to answer questions on the products;
o Assisting with material for training on products; and
o Giving insight into areas where sales should be targeted and lapses can be prevented.
4. Presenting of products to relevant stakeholders
• Be able to present products to relevant stakeholders, such as: management, Investors, Brokers, Sales teams.
• Ensure presentations are up-to-date, relevant and represent the company correctly

Recruiter: Rooftop