Product Development Specialist at Britam

OVERALL JOB PURPOSE:    

Drive the development of end to end customer solutions with focus on Partnerships & Digital + EMC customers.

KEY RESPONSIBILITIES:

• Product Ideation and Market Research: Generate, develop, communicate and conduct market research for new Partnerships & Digital + EMC product ideas in the market.
• Product Design and Pricing: Determine technical premiums for new and repackaged Partnerships & Digital + EMC products.
• Product Risk management: Identify and analyze risks relating to new and repackaged Partnerships & Digital + EMC products, and setting out proposed risk mitigation measures.
• System and Process Capabilities: Drive the operationalization of new products i.e. ensure processes and systems are in place to administer the complete product administration cycle.
• Product Approvals: Drive the product approval process both within the Company and externally with the Insurance Regulator and other government bodies – where relevant.
• Compliance Requirements: Work with the Legal and Risk functions to ensure that all compliance requirements with respect to products are met.
• Product Documentation: Develop and continually review product training manuals and content for marketing brochures that are appropriate to the target market and distribution channel of the products.
• Work with the Innovation and other teams to turn data insights into profitable products. 
• Work with the marketing team to improve the look and feel of Britam product offerings.
• Own and improve the Britam Partnerships & Digital + EMC client journey with focus on customer centricity.
• Ad hoc duties assigned by line manager.

KEY QUALIFICATIONS, KNOWLEDGE AND EXPERIENCE:

• University Degree in Actuarial Science – or other highly numerate subject area. 
• Good progress in examination from the Institute and Faculty of Actuaries or any equally recognized professional actuarial body (attempted and passed at least 8 actuarial exams).
• At least 3 years’ experience in an actuarial or product development function in a very busy office. 
• Experience across product lines preferred i.e. life and non-life.
• Proven experience working across functions and with multiple stakeholders.
• A keen eye for innovation in the insurance and financial services space preferred. 

COMPETENCIES AND REQUIREMENTS:

• Excellent oral and written communication skills with the ability to translate and communicate complex insurance and actuarial principles to a non-technical audience. 
• Ability to build and maintain effective working relationships with all stakeholders within each client segment.
• Ability to think clearly and analytically. 
• Ability to identify and solve all problem types i.e. both technical and non-technical.
• A keen eye for innovation in the insurance and financial services both traditional and non-traditional (FinTechs etc.) spaces.