At Innovation Group, innovation isn't just a buzzword - it's our driving force. We pride ourselves on creating products that not only meet but exceed our customer's expectations. Our team is a vibrant mix of creative minds and technical experts dedicated to pushing the boundaries of what is possible.

We're currently recruiting for a passionate and talented Product Development Specialist to join us on this exciting journey. The Product Development Specialist will play a crucial role in the creation, management and improvement of underwritten and non-underwritten products for Innovation Group. This position involves collaboration with cross-functional teams to ensure that our products meet the highest standards of quality, innovation, and customer satisfaction.

Minimum requirements

• Degree or Equivalent NQF Level 7 Qualification in Business Management, Insurance, or related fields
• Minimum 3 – 5 years of experience in product development or management within insurance or value-added industry.
• Strong understanding of motor and insurance products, markets, and regulations
• Ability to develop and manage value-added products.
• Analytical, strategic planning and project management skills

Responsibilities

• Design and develop new value-added products and services to enhance the current product offerings, including wording formulation (regulated and non-regulated products).
• Manage the lifecycle of value-added products, including development of new products, management of current product enhancements, implementation, and measurements.
• Align product development implementation to sales pipeline and strategy
• Identify VAPS that can add customer value and that can generate revenue for IGSA.
• Continuously identify areas for improved efficiency and reduced cost relating to how product is administered and developed.
• Ensure the delivery of Product Development outputs are within the desired timelines in order to support the profitable growth targets of the organisation.
• Conduct market research to identify trends, customer needs and competitive offerings.
• Monitor product performance and manage any improvements based on organisational feedback and market changes.
• Ensure compliance with regulatory requirements and internal policies.
• Identify opportunities for product differentiation and competitive advantage.
• Support management in the development of business cases to support product initiatives
• Gather and analyse feedback to continuously improve product offerings.
• Develop and maintain strong relationships with key stakeholders.
• Ensure value-added products meet client needs and enhance customer satisfaction.
• Take ownership of the business process that takes a collection of linked tasks to ensure the delivery of a service or product to a client within predetermined timelines.
• Work closely with pricing, underwriting and claims teams to ensure product feasibility and profitability.
• Collaborate with internal and external teams to drive value-added product opportunities.
• Communicate product updates and enhancements to stakeholders.
• Keep abreast of market trends that promote business efficiencies.
• Create a culture of ownership and accountability throughout the organisation in support of our values.
• Establishing a healthy culture of teamwork, a growth mindset and having fun together.

What we offer

• Permanent employment
• Competitive salary and benefits package (including access to medical aid and provident fund)
• Opportunities for professional growth and development
• Hybrid working opportunities
• A collaborative and innovative work environment

Why you'll love working with us

• Innovative culture: Join a forward-thinking team where your ideas will shape the future.
• Career growth: We invest in our people, offering ample opportunities for professional development and advancement.
• Impactful work: Be a key player in creating products that make a difference in the lives of our customers.
• Collaborative environment: Work alongside industry experts in a supportive and dynamic setting.