Product Development & Innovation Jobs. Heritage Insurance 2016


Product Development, Research & Innovation Supervisor Job at Heritage Insurance

The Heritage Insurance Company (K) Ltd is a member of Liberty Group and a leading insurance Company with a legacy of providing superior services to a wide spectrum of clients since 1976.

We are looking for a dynamic and experienced individual to fill in the following position:

Job Title: Product Development, Research & Innovation Supervisor

Product Development & Innovation Job Main Purpose

  • To assist in the development, maintenance and/or review of all products in the organization and provide market insights to influence strategy execution.

Product Development & Innovation Job Key Responsibilities / Accountabilities

  • To make recommendations to existing products based on market needs, existing product performance, and competitor analysis, in order to increase sales volume and profitability.
  • Product Concept: Research on product ideas and present a concept paper for consideration
  • Product development: Design, price and set-up product in the administration system and also ensure the relevant actuarial product sign-offs are obtained.
  • Engage prospective partners on product distribution and ensure the development of non-disclosure agreements, service level agreements and administrative agreements.
  • Develop a business case that gives a holistic overview of the product and includes; product proposal, market analysis, market strategy, impact on risk appetite and the process flows.
  • To support the process of product development in liaison with the Project Team to ensure all new products are developed within appropriate timelines.
  • To support Sales & Distribution team in ensuring that all products and product related activities are within the regulatory framework.
  • Conduct research on market insights, consumer trends and the macro-economy.
  • Develop modalities for translating research findings and recommendations into solutions that promote strategy execution
  • To perform required business analytics for management reporting and strategy execution and make recommendations to support these analyses.
  • Project involvement for running projects that may require the supervisor’s input.
  • To fully participate in coaching and mentoring of other staff within the organisation for sharing of skills and knowledge for enhanced service delivery.

Skills, Knowledge, Experience & Personal Competencies for Product Development & Innovation Job


  • BSc. Actuarial Science, Statistics, Mathematics or related qualification.
  • At least eight credits or passes in professional actuarial examinations from a recognized examining body


  • At least 3 years prior experience in an actuarial environment, preferably in product development in a general insurance set up.
  • Working knowledge of regulatory environment (Capital Markets; Stock Exchange; Retirement Benefits Authority; Insurance Regulatory Authority)
  • Demonstrate to have held a similar leadership role

Other Attributes

  • Proficiency in Excel and Word Programmes
  • Able to maintain a high level of confidentiality
  • Highly innovative and ability to think outside the box
  • Be able to maintain high standards of professionalism and ethics


   How to Apply

   If you believe you are the right candidate, please email your application and CV to [email protected] on or before 22nd July 2016.