Product Analyst (Johannesburg)(JG08) at Santam Insurance

What will you do?

• Responsible for the design of products of medium complexity. The incumbent is involved in market research, then conducts a business viability study before the final product design is finalised.
• Project management competencies are essential. Ensures that all new and existing product formulations and processes are and remain cost effective and consumer-relevant.
• Keeps up to date with and ensures compliance of products to relevant legislation. Keeps up to date with developments in technology and recommends product/process improvements.

CAREER OPPORTUNITY

• We have an exciting opportunity for a suitable candidate to perform the role of Product Analyst.  This role is based in Sandton, Johannesburg and will form part of our Strategic Partnerships team.

PRINCIPLE ACCOUNTABILITIES INCLUDE: 

• The Product Analyst role will be responsible for sourcing and analysing market trends within partners and aligning those to insurance, customer needs, product monitoring (performance and governance reporting), product improvements and customer value proposition.
• The below is not an exhaustive list but illustrates the key elements of the role:
• Assist in designing and refining insurance products for personal and commercial lines.
• Support pricing and underwriting strategies through actuarial and market analysis.
• Ensure compliance with regulatory requirements across multiple insurance business partners.
• Market research & competitive analysis
• Research market trends, competitor offerings, and emerging risks.
• Recommend product enhancements or new product opportunities based on insights. 
• Work closely with underwriting, actuarial, marketing, and teams from business partners 
• Communicate findings and recommendations to stakeholders to guide strategic decisions. 
• Track and analyse key business metrics to improve profitability and customer satisfaction
• Identify areas for operational efficiency and product innovation

QUALIFICATIONS AND EXPERIENCE

• Bachelor degree in a risk and/or insurance related degree ideal.
• 3-5 Years experience in a similar role essential

SKILLS

• Product Analysis and management
• Business acumen
• Analytical Thinking
• Attention to detail
• Pragmatism
• Problem solving
• Strategic thinking
• Systems thinking
• Navigating ambiguity
• Effective communication
• Demonstrating courage and grit
• Market research and trend analysis
• Concept design and storytelling
• Development of technical product specifications
• Strong MS Office (Excel, Word, Power Point)
• Knowledge of underwriting practices
• Ability to translate business requirements into technical specifications
• Ability to articulate client needs in terms of product features 
• Basic project management and administration skills 

COMPETENCIES

• Collaboration
• Client focus
• Flexibility and adaptability
• Cultivates Innovation
• Strong communication skills
• Ability to manage stakeholder relationships
• Product strategy 
• Project planning
• Knowledge management
• Reporting and Administration