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
- 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.