Location: Pretoria
Position: Specialist: Product Development
Salary: 70000
Our client in the long-term insurance sector is looking for a Specialist in Product Development to assist in the development and pricing of new products and monitor and maintain the profitability of new and existing products.
Description: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 obtaining an 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.Monitoring of in-force business: Monitor and analyse in-force data.Perform experience analysis based on reports 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 the 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 were 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.Requirements:B Degree Actuarial Sciences.Passed the A-level subjects.Prophet experience – Technical Certification.3 to 5 years in long-term insurance.Product development and pricing experience.Send your CV and latest pay slip to ****** ATripleA Recruitment and Temps
www.aaaa.co.za Posted 2024-01-26
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