To develop and manage a strategy and operating model for product development that supports the growth and development of the Mutual & Federal business through developing, implementing and managing market leading, fit-for-purpose and risk-balanced products that are optimally priced.
- Develop, plan for, implement and take accountability for the product and proposition development model, partnering with the Executive: Underwriting in response to the business model and Mutual & Federal strategy.
- Establish an aligned departmental Balanced Scorecard focused on the implementation, measuring and management of the product development strategy.
- Determine the business value chain for product development and ensure that this value chain is aligned and integrated with the Underwriting Division value chain.
- Ensure that the Product Development function has sufficient development and packaging models in place to ensure cost effective development, maintenance and delivery of best-in-class, fit for purpose and, where possible, innovative products to target markets.
- Plan for, develop and implement innovative and/or fit-for-purpose products within the short-term insurance environment.
- Provide technical marketing expertise and support to the Sales Division, Direct Distribution Division and Africa Division.
- Contribute to strategies and related processes to continuously grow the target market. Influence new business, marketing and communication processes incorporating product development and client services to improve understanding and acceptance of product mix in the market.
- Cooperate with the Sales Division, Direct Distribution Division and Africa Division to ensure that products are optimally bundled, solution orientated and fit for purpose.
- Actively participate in the research and monitoring of the industry, target market and competitors to identify opportunities and threats as well as areas for improvement in operations.
- Contribute to the optimisation of retailisation, cross-selling and collaboration opportunities through appropriate relationships and product development to maximise the bundled product offerings for the market segment.
- Assist in preparing business plans to assess viability of product ideas.
- Assist with collation of business requirements specifications for new and existing products.
- 5 – 10 years’ experience in financial sector
- 3-5 years’ experience in field of technical underwriting or short-term actuarial experience
- 3-5 years’ experience in the management of people, at least at manager of manager level
- FIISA or FCII or working towards FIA or FASSA
- And/or Actuarial degree
- And/or BCom degree
Please note, interviews for this position will take place at our Careers in Africa Recruitment Summit in London, 16- 18th of May 2014. Relevant candidates will be contacted and invited to attend the event.