Insurance Product Developer
ほけんしょうひんかいはつしゃ
Industry & Occupation
Classification
Summary
Insurance product developers are professionals who plan, design, and develop new insurance products based on customer needs, market trends, and legal regulations.
Description
Insurance product developers conduct market research, analyze customer needs and risks, develop concepts for new insurance products, design premiums and contract terms, and verify profitability and competitiveness. They also handle compliance with laws and regulations, tax and accounting standards, and collaborate with internal underwriting departments, marketing departments, and sales channels to finalize product specifications. After product release, they analyze sales performance and customer feedback to apply to revisions and new product development. They also promote innovation by leveraging the latest data analysis techniques and IT technologies.
Future Outlook
Due to an aging population and diversifying lifestyles, demand for new products is steadily increasing. Innovations in the insurtech field, such as product development using AI and big data, and subscription-type insurance, will become increasingly important going forward.
Personality Traits
Cautious and accurate / Good at logical thinking / Has curiosity and inquisitiveness / Has flexible thinking
Work Style
Flexitime / Interdepartmental Collaboration / Office Work / Partial Remote Work Possible / Team Projects
Career Path
Analyst (Actuarial) → Junior Product Planning → Senior Product Planning → Product Manager → Department Head → Business Planning
Required Skills
Actuarial Science / Basics of Statistics and Probability Theory / Excel (Advanced) / Insurance Product Design / Risk Assessment and Analysis
Recommended Skills
BI Tools / Data Analysis / Database Operation / Marketing Knowledge / Presentation Skills
Aptitudes (Strengths Preferred)
| Item | Description |
|---|---|
| Analytical & Logical Thinking | To analyze market data and risk indicators and reflect them in product design. |
| Attention to Detail & Accuracy | Because small design mistakes can lead to contract risks or legal violations. |
| Numerical & Quantitative Analysis | Because calculations using actuarial science and statistical analysis are essential. |
| Planning & Organization | Because it is necessary to manage the development process in a planned manner and adjust schedules. |
| Problem Solving | Because the ability to solve challenges in premium calculation and market competition issues is required. |
Aptitudes (Weaknesses Acceptable)
| Item | Description |
|---|---|
| Physical Stamina & Endurance | Mainly desk work with low physical demands. |
Related Qualifications
- Actuary Qualification
- Financial Planner (AFP/CFP)
- Life Insurance Solicitation Qualification
- Property and Casualty Insurance Solicitation Qualification
Aliases
- Insurance Planning Officer
- Insurance Product Planner
Related Jobs
- Insurance Actuary
- Insurance Underwriter
- Product Planner
- Risk Management Specialist