Product Analyst - Bellville, South Africa - Santam

Santam

Verified Company

Bellville, South Africa

1 week ago

Posted by:

Thabo Mthembu

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Description

What will you do?

We have two vacancies for Product Analysts to join our team based in Tygervally, Cape Town. These roles will form part of the Client Solutions Division (Personal Underwriting, Product Management). What will make you successful in this role?

The purpose of this role is to design, implement and maintain appropriate personal and commoditised commercial insurance products in alignment with the Client Solutions product and market strategies.

The individual is responsible for product research and market analysis on a micro level to implement sustainable product innovation.

This position supports the accountable managers in maintaining the stability of the Personal Lines product model on the policy administration system, working closely with underwriting and actuarial to manage product, rates and rules for all commodity lines.

This individual will also support the accountable managers with the governance for the Santam product portfolio. This includes managing and maintaining the various components of our product governance framework.

Amongst others, these include Treating Customers Fairly, the Policyholder Protection Rules, and Access product accreditation for Santam's FSC reporting purposes.

Market Research and Trend Analysis

The process of gathering intelligence regarding specific products, attitudes, services, etc. and interpreting that information so business decisions can be made. Identify market trends that will impact on the relevant target market.
Competitor research and analysis
Documentation and presentation of data, reports, and insights to appropriate stakeholders.

Product concept design and prototyping

Undertake product concept design, evaluation, and prototyping.
Conducting product feasibility assessments
Client needs research and analysis
Drafting of technical product requirements

Product development

The development of new products (supporting the product managers throughout the product development lifecycle).

Project Planning

Ability to define the scope and objectives of an initiative, anticipate resource needs, and then arrange, prioritise and schedule activities to meet objectives.

Product implementation

Systems and product useracceptance testing
Product governance

Reporting and Administration

Conduct effective reporting and administration. The ability to access information from diverse sources and prepare reports.

Establish and maintain strong relationships with relevant internal and external stakeholders
Qualifications & Experience

Relevant B-degree or insurance-specific product training
Direct client-facing (not required but preferred)
At least 5 years' short-term insurance experience, with a strong technical insurance proficiency
Personal and commercial lines product knowledge
Experience working on policy administration systems (preferable) Skills

Analytical thinking
Business acumen
Research and data gathering
Strong attention to detail
Proactive and results oriented
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