Short-Term Insurance Product Developer

About the Role

Our client, a forward-thinking and innovative insurance group, is seeking a talented Short-Term Insurance Product Developer to join their strategic team. While the primary location is Mossel Bay, Western Cape, this role offers a fully remote working arrangement, allowing you to contribute from anywhere in South Africa. You will be instrumental in the design, development, and lifecycle management of new and existing short-term insurance products across various lines of business. This includes market research, competitor analysis, product structuring, pricing strategy, policy wording development, and ensuring regulatory compliance. The ideal candidate will possess a blend of analytical, creative, and commercial skills, with a profound understanding of the insurance market dynamics and customer needs. This is a unique opportunity to shape the future of our client's product offerings and drive market innovation. We are looking for a self-motivated individual with a passion for product development, excellent communication skills, and the ability to translate complex concepts into user-friendly and profitable insurance solutions. Your role will be critical in maintaining our client's competitive edge and meeting the evolving demands of the insurance landscape. The fully remote nature of this position requires exceptional organizational skills and the ability to collaborate effectively across distributed teams, ensuring seamless product launches and ongoing product enhancements.

Key Responsibilities

• Conceptualize, design, and develop new short-term insurance products for individual and commercial markets.
• Conduct market research, competitor analysis, and feasibility studies to identify product opportunities.
• Define product features, benefits, pricing structures, and underwriting guidelines.
• Develop clear, concise, and compliant policy wordings, terms, and conditions.
• Collaborate with actuarial, legal, compliance, marketing, and IT departments throughout the product development lifecycle.
• Manage existing product portfolios, identifying opportunities for enhancement, rationalization, or repositioning.
• Ensure all product developments meet regulatory requirements and our client's strategic objectives.
• Monitor product performance and profitability, making recommendations for adjustments.
• Prepare product documentation, training materials, and marketing support collateral.
• Stay abreast of industry trends, regulatory changes, and emerging customer needs.

Requirements

• A minimum of 5 years of experience in insurance product development, management, or a related strategic role within the short-term insurance sector.
• A relevant tertiary qualification (e.g., B.Com, CIP, or equivalent).
• Strong understanding of short-term insurance principles, product design, pricing, and regulation.
• Excellent analytical, problem-solving, and strategic thinking skills.
• Superior written and verbal communication skills, with the ability to articulate complex ideas clearly.
• Demonstrated project management skills and experience in leading cross-functional teams.
• Proficiency in data analysis and Microsoft Office Suite.
• Ability to work autonomously and manage multiple projects simultaneously in a remote setting.
• Familiarity with the South African regulatory environment (e.g., FAIS, FICA, ICOB).
• A proactive and innovative mindset towards product solutions.

Benefits

• Highly competitive salary commensurate with experience and qualifications.
• Performance-based annual bonus.
• Remote work flexibility, enabling a strong work-life balance.
• Comprehensive medical aid, life insurance, and retirement savings plan.
• Generous opportunities for professional development and continuous learning.
• Exposure to cutting-edge product innovation within the insurance industry.
• Access to advanced technological tools and resources.
• A collaborative and forward-thinking virtual team environment.

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