Product Manager

Who are we? Santam is the market leader in the general insurance industry in Southern Africa. We are a large, diversified, expanding and transforming company and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia. Our success is rooted in our passion for our clients and everything we do is centred on our delivery of Insurance Good and Proper. What will you do? To design, implement and manage appropriate personal and small business insurance products, loyalty and rewards programs, as well as value-added services, to all target markets through all distribution channels for the Santam Group; aligned to the departments product range strategies. PRINCIPLE ACCOUNTABILITIES: Leading and Managing

• Leadership responsibilities to the team reporting to this individual.
• Ensuring up-skilling through appropriate application and development of skills.
• Oversight of product analyses and research conducted by team.
• Managing the development of product solutions in support of Santam Group strategic initiatives.
• Strategic and technical guidance of product integrations into the wider Sanlam Group.
• Accountable for changes and maintenance of commoditised products for South Africa.
• Providing product guidance and support to operational environments.
• Accountable for product alignment with underwriting rules and mandates.

Product strategy

• Market research.
• Data-led market segmentation to identify high-value and high-growth opportunities.
• Ability to make statistical inferences from financial, underwriting and claims data
• Client needs analysis.
• Strategic positioning of the product in market.
• Concept brief development

Product planning

• Product gap analysis and planning
• Business case development
• Roadmapping and feature prioritisation.

Product design

• Definition of all product elements aligned to product architecture.
• Brief to actuarial for assumptions, predictive modelling, pricing and rating.
• Brief to underwriting for rules, pricing and underwriting standards.
• Definition of all variable document elements.
• Draft of policy wording clauses in collaboration with underwriting, legal and compliance.
• Distribution channel definition.
• Operational models consideration, impact analysis and solutions.
• Claims models consideration, impact analysis and solutions.
• Product training brief.
• Product marketing brief.

Product development

• Backlog grooming
• Sprint planning
• Spring demos
• User acceptance testing.
• Regulatory and compliance sign-off
• Launch planning.

Product governance

• Implementation of Group product governance framework.
• Complaints analysis and reporting.
• Product risk identification and mitigation
• Regulatory and compliance reporting.
• Access accreditation of relevant products for group reporting (FSC scorecard).
• Product governance and control matrix design.

Stakeholder relations

• Identifying relevant stakeholders, establishing and maintaining stakeholder relationships.
• Supporting stakeholder relationships and engagement of team.

Other

• Product due diligence in support of acquisition strategies.

What will make you successful in this role? QUALIFICATIONS

• B-degree or similar tertiary qualification.
• Minimum of 360 credits at NQF level 7.

KNOWLEDGE AND EXPERIENCE

• Minimum 5 years experience in product development / implementation within a financial services environment
• Minimum 2 years experience in leading a product / analytical team

SKILLS

• Finding innovative and practical solutions to complex challenges.
• Short-term insurance technical proficiency.
• Policy wording draft and interpretation.
• Identifying and capitalising on business development opportunities.
• Business requirements and system specifications.

COMPETENCIES

• Systems thinking.
• Data analysis.
• Initiative-taking and results oriented.
• Organised and efficient.
• Excellent ability to manage stakeholder relationships.
• Effective communication skills (written and verbal).
• Product lifecycle management

Our commitment to transformation The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Groups Employment Equity plan and targets will be considered as part of the selection process.

Information :

• Company : Sanlam
• Position : Product Manager
• Location : Bellville, Western Cape
• Country : ZA