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Specialist: Product Development

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Specialist: Product Development

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:

·        Answer client queries of a technical nature that was escalated by staff members  

·        Attend to ombudsman queries of a technical nature 

·        Assist with amendments to policies where support is required 

·        Answer values and product related queries from other departments  



·        B Degree Actuarial Sciences 

·        Passed the A-level subjects 

·        Close to qualification 

·        Prophet experience – Technical Certification 

·        3 to 5 years in long-term insurance 

·        Product development and pricing 




Send your CV and latest pay slip to

ATripleA Recruitment and Temps

Posted 2020-06-29

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