Insurance Product Development Manager Job Vacancy in Ndola, Zambia – Insurance

Job Description

Position: Insurance Product Development Manager

Company: Old Mutual Zambia

Location: Ndola, Zambia

Experience: 5+ years in insurance product development, actuarial analysis, or related fields

Education: Bachelor’s degree in Finance, Economics, Actuarial Science or related discipline

Employment Type: Full-time

Industry: Insurance

Department: Product Development

Salary: SSP 300,000 – 500,000 per month

Vacancies:1

Company Overview

Old Mutual Zambia is a leading provider of comprehensive insurance solutions across the country, delivering innovative life, health, and general insurance products to individuals and businesses. With a strong heritage dating back over a century, Old Mutual combines global expertise with local market insight to create value for its customers, shareholders, and the communities it serves. The company’s commitment to financial inclusion, digital transformation, and sustainable growth has positioned it as a trusted partner in the Zambian insurance landscape.

Operating from its modern headquarters in Lusaka and regional offices in major cities including Ndola, the organization fosters a culture of integrity, collaboration, and continuous learning. As part of its strategic vision, Old Mutual Zambia is expanding its product portfolio to meet evolving customer needs, leveraging data analytics, and embracing innovative distribution channels. This growth trajectory creates exciting career opportunities for professionals who are passionate about shaping the future of insurance in Zambia.

Job Overview

The Insurance Product Development Manager will lead the end‑to‑end lifecycle of new insurance products, from market research and concept design to pricing, regulatory approval, and launch. Reporting to the Head of Product Development, you will work closely with cross‑functional teams including actuarial, underwriting, marketing, sales, and compliance to ensure that each product aligns with market demand, profitability targets, and regulatory standards. This role is pivotal in driving Old Mutual Zambia’s ambition to broaden its market share and enhance customer experience.

For more information about our organization and to explore other career opportunities, visit our careers portal at Zambia Jobs portal. This position is a key component of our hiring in Zambia strategy, offering a platform for professional growth and impact.

Key Responsibilities

• Conduct comprehensive market analysis to identify gaps, trends, and customer needs within the Zambian insurance sector.
• Develop product concepts, value propositions, and business cases that align with Old Mutual’s strategic objectives.
• Collaborate with actuarial teams to design pricing models, risk assessments, and profitability forecasts.
• Prepare and submit product documentation for regulatory approval in accordance with the Insurance Act and CBI guidelines.
• Lead cross‑functional project teams to ensure timely product development, testing, and launch.
• Design go‑to‑market strategies in partnership with Marketing and Sales, including channel selection and promotional plans.
• Monitor product performance post‑launch, analyze key metrics, and implement enhancements to drive sustained growth.

Required Skills

• Strong analytical and quantitative abilities with proficiency in statistical software and Excel modeling.
• Excellent communication and stakeholder management skills to influence internal and external partners.
• Deep understanding of Zambian insurance regulations, market dynamics, and consumer behavior.
• Project management expertise with a track record of delivering complex initiatives on schedule.
• Creative problem‑solving mindset and ability to translate data insights into actionable product features.
• Proficiency in digital insurance platforms and familiarity with insurtech trends.

Education

A Bachelor’s degree in Finance, Economics, Actuarial Science, Business Administration, or a related field is required. Professional certifications such as ACAS, CFA, or equivalent are advantageous and demonstrate a commitment to industry excellence.

Experience

The ideal candidate will have at least five years of experience in insurance product development, actuarial analysis, or a comparable role within the financial services sector. Demonstrated success in launching new insurance products in emerging markets, particularly within Zambia or the broader Southern African region, will be highly valued.

Salary

The compensation package ranges from SSP 300,000 to 500,000 per month, commensurate with experience and qualifications. In addition to the base salary, Old Mutual Zambia offers performance‑based bonuses, health insurance, pension contributions, and other employee benefits.

Benefits

• Competitive salary with annual performance bonuses.
• Comprehensive medical and dental coverage for employee and dependents.
• Retirement savings plan with employer matching contributions.
• Paid parental leave, annual leave, and public holidays.
• Employee assistance program and wellness initiatives.
• Opportunities for professional development and career progression.

Training

• Onboarding program covering company culture, systems, and regulatory framework.
• Continuous learning through workshops, webinars, and industry conferences.
• Access to online courses in actuarial science, data analytics, and product innovation.
• Mentorship from senior leaders within the Product Development department.
• Support for professional certifications and advanced qualifications.

Working Environment

Old Mutual Zambia offers a collaborative, inclusive, and technology‑enabled workplace. Our Ndola office features modern workspaces, meeting rooms equipped with video‑conferencing tools, and a comfortable break area. The company promotes a healthy work‑life balance, flexible working arrangements where feasible, and a culture that celebrates diversity and innovation. Employees are encouraged to share ideas, take ownership of projects, and contribute to a purpose‑driven organization.

Application Process

Interested candidates should submit their updated CV and a cover letter outlining their relevant experience through the online application portal on the Zambia Jobs website. Applications will be reviewed by the Talent Acquisition team, and shortlisted candidates will be contacted for a virtual interview followed by an on‑site assessment at our Ndola office. The recruitment timeline is typically four weeks from the closing date.

Equal Opportunity Statement

Old Mutual Zambia is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, race, religion, age, disability, sexual orientation, or any other protected characteristic. Our hiring practices reflect our dedication to fairness, transparency, and merit‑based selection.