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 on or before 22nd July 2016.