Pretoria
Specialist: Product Development
70000
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.
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 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
Requirements:
· 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 raca@aaaa.co.za
ATripleA Recruitment and Temps
www.aaaa.co.za
Posted 2023-11-11
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