Job Summary
- Type: full-time
- Location: Gaborone
- Category: Product Management
- Closing Date: 2026-07-10
Key Responsibilities
- 7.1. Develop and implement the country’s Bancansurance strategy and execution to drive product profitability.
- 7.2. Drive customer acquisition, usage, retention and revenue outcomes.
- 7.3. Monitor product P&L, unit economics, cost-to-serve and profitability
- 7.4. Monitor market trends, competitor offerings and regulatory developments to identify emerging opportunities and evolving customer needs and translate these insights into competitive, customer-centric insurance solutions.
- 7.5. Lead product ideation, design, pricing, documentation, testing, launch and optimization, in collaboration with underwriting partners.
- 7.6. Build and maintain relationships with insurance partners, underwriters, reinsurers and service providers
- 7.7. Negotiate and review product terms, SLAs, commissions and revenue-sharing agreements.
- 7.8. Optimize product profitability and customer value through pricing and product structures
- 7.9. Validate that product documentation, policy wording, customer communication and marketing materials are accurate and compliant
- 7.10. Design, implement, and continuously review policies and procedures that standardise insurance practices across the organisation, ensuring compliance with regulatory requirements, effective risk management, operational control and consistent delivery of customer-centric insurance solutions.
- 7.11. Conducts research on local market opportunity analysis in order to identify solutions that can enhance Letshego’s current offerings
- 7.12. Collaborate with cross-functional teams, including sales distribution, legal, compliance, finance, IT and operations to ensure the effective design, implementation and delivery of customer-centric insurance products
- 7.13. Validate that all products comply with NBFIRA regulations, Insurance Act provisions and internal policies.
- 7.14. Lead resolution of audit findings, regulatory inspections and compliance reporting
- 7.15. Ensure Underwriting terms and conditions are strictly adhered to in the underwriting process of business as per insurance regulation guidelines.
- 7.16. Monitor and analyse product performance by tracking profitability, market penetration, loss ratios, premium collections, refunds, claims settlement timelines and commission income, while driving optimisation of pricing and commission structures
- 7.17. Prepare comprehensive performance reports for management and Board review to support strategic decision-making.
- 7.18. Maintain product risk registers RCSAs and regulatory submissions
- 7.19. Design and implement product training programmes for frontline and support staff.
- 7.20. Spearhead business retention by ensuring that renewal terms are communicated and/or discussed with the clients within the set timelines and that renewal instructions are received on time to achieve minimum lapse ratios
- 7.21. Role-models Letshego values and ethical leadership that is consistent with Group culture.
Requirements
- Education: Bachelor’s degree in Insurance, Risk Management, Actuarial Science, Business Administration, Economics or related field.
- Postgraduate qualification (MBA, Master’s in Insurance & Risk, Data Analytics) will be an added advantage
- Certifications: Certificate of Proficiency-Insurance (short term and long term) is mandatory
- Experience: At least 7 years experience in insurance product management, bancassurance, distribution or financial services
- At least 3 years in a management position
- Demonstrated experience in: o End-to-end product lifecycle management (ideation → pricing → launch → optimisation)
- Engagement with insurance partners, brokers, reinsurers and regulators o Insurance pricing and profitability optimisation o Claims processes, policy servicing and risk controls
- Market segmentation and product commercialisation
- Experience with digital insurance solutions is a strong advantage
How to Apply
Frequently Asked Questions
What are the typical qualifications, certifications, or education needed for a Product Owner in Bancassurance in Botswana?
A Bachelor's degree in Business, Finance, IT, or a related field is usually required, often with a focus on digital products or financial services. Relevant certifications like Professional Scrum Product Owner (PSPO) or SAFe Product Owner/Product Manager (POPM) are highly advantageous, alongside demonstrable experience in product development or management within financial institutions. Experience with bancassurance products or digital financial services will be particularly sought after.
What are the common day-to-day responsibilities of a Bancassurance Product Owner in Botswana?
You would primarily be responsible for defining, prioritizing, and managing the product backlog for bancassurance solutions, translating business needs into user stories. This includes collaborating with business stakeholders, development teams, and compliance officers to ensure products meet market demand and regulatory requirements in Botswana's financial landscape. You will also oversee the product lifecycle from conceptualization to launch and continuous improvement.
What is the local work culture and expectations for a Product Owner within financial services in Botswana?
The work culture in Botswana's financial sector often emphasizes collaboration, respect for hierarchy, and a strong commitment to regulatory compliance and customer service. Product Owners are expected to be proactive, adaptable, and culturally sensitive while driving innovation and delivering robust financial solutions. Building strong relationships with both internal teams and external partners is crucial for success.
What are the realistic career progression or growth paths for a Product Owner in Bancassurance in Botswana?
Successful Product Owners can progress to Senior Product Owner, Product Manager, or even Head of Product roles within financial services. There are also opportunities to specialize further in specific product lines or transition into roles like Business Analyst, Project Manager, or Agile Coach within the broader financial technology sector in Botswana. Continuous learning and a proven track record of successful product delivery are key to advancement.
What typical benefits package (leave, medical aid, pension) can one expect for a Product Owner role in Botswana's financial sector?
Most established financial institutions in Botswana offer competitive benefits packages, typically including annual leave, sick leave, and often compassionate leave. Comprehensive medical aid coverage is standard, and participation in a company-contributed pension fund is common. Additional benefits might include group life assurance and professional development opportunities.
How should I apply for this role and what do employers in Botswana look for in a Product Owner?
Emphasize your understanding of bancassurance products, Agile methodologies, and your ability to translate business needs into technical requirements. Highlight any experience with digital transformation projects, stakeholder management, and a demonstrable track record of successfully launching or enhancing financial products in your CV and cover letter. Employers in Botswana seek candidates who are not only skilled but also culturally attuned and committed to long-term growth within the organization.