Our client one of the leading Insurance Companies in Kenya is hiring a Product Development Officer.

PURPOSE OF THE POSITION:

Manage and coordinate product development initiatives by identifying potential products; conducting market research; generating product requirements; determining specifications, production market testing, pricing, and time-integrated plans for product introduction; developing marketing strategies.

Analyzing market research and sales data to identify trends and determine areas where a new product may provide competition or disrupt a market to provide a high return on investment.

KEY PERFORMANCE AREAS:

1. Direct product development efforts on a project basis using quality tools to deliver value added services to customers.
2. Perform customer needs analyses of the industry and competitive assessments of the industry
3. Work with internal businesses and external businesses to develop bundled products and services for the business
4. Lead cross-functional teams to develop detailed business plans including acquisition analyses, technology development assessment, roll out communication strategy and training.

5. Relationship Building and Maintenance

 

DUTIES

1. Review existing products (Medical and non-medical) and recommend areas of improvement to achieve delightful customer experience
2. Spearhead and launch at least two (2) new products per quarter
3. Conduct products audit with the aim of ascertaining compliance with all statutory and regulatory requirements. e.g. KYC, approvals etc
4. Coordinate cross sectional understanding of all products and processes aimed at delivering exceptional services
5. Review and consider new areas of product diversification to enable business growth
6. Actively engage and contribute to the development and review of the product development strategy, policy and approach within the organization
7. Compare industry offerings and use market data to drive decisions around product and service developments/enhancement
8. Advise on the nature and scope of current and prospective product lines by reviewing product specifications and requirements; appraising new ideas and packaging changes
9. Conduct due diligence on all product ideas and proposal and develop a comprehensive business case on the investment requirements
10. Determine customers' needs by specifying necessary research to obtain market information; customize products to operate seamlessly in various operating regions
11. Develop comprehensive product manuals and schedule training program for employees and sales professionals
12. Develop and present product utilization reports to the management
13. Analyze market trends by benchmarking AIK products to competition and advise any changes necessary
14. Determine product pricing by utilizing market research data; reviewing production and sales costs; anticipating volume; costing special and customized orders.

 

1. 5 years’ experience in product development and management with a progressive underwriter/financial institution.
2. Good understanding of insurance concepts and products in general insurance

OTHER COMPETENCIES:

1. Customer/Client Focus.
2. Communication Proficiency.
3. Strategic Thinking.
4. Decision Making.
5. Strong analytical and problem solving skills
6. Result oriented and customer focused
7. A self-starter who demonstrates energy and seeks to get things done
8. Able to provide a positive and innovative work environment

 

All applications should be submitted by 7th February 2020.