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Insurance Product Development

From concept to launch, we help you create innovative insurance products that meet evolving market demands and drive profitability.

Legacy Risk Consult specializes in developing innovative insurance products that address real market needs. From initial concept to successful market launch, we guide you through every stage of product development with expertise in compliance, market research, and community engagement.

Our Development Process

1. Ideation & Market Research

We begin by understanding your vision and analyzing market opportunities. Our research explores community needs, competitive landscape, and regulatory requirements to ensure your product addresses real gaps in the market.

Market gap analysis
Community needs assessment
Competitive analysis
Feasibility assessment
2. Product Design & Structuring

We design products that balance comprehensive coverage with affordability. Our team considers cultural sensitivities, affordability models, and community preferences to create products that resonate with your target market.

Benefit structure design
Pricing strategy development
Underwriting criteria definition
Terms and conditions drafting
3. Compliance & Regulatory Approval

As an Authorised Financial Services Provider (FSP 45536), we ensure your product meets all regulatory requirements. We handle the complexity of compliance so you can focus on your business.

FSCA compliance verification
Product documentation preparation
TCF principles integration
Regulatory filing support
4. Testing & Refinement

Before full launch, we test your product with pilot groups to gather feedback and refine the offering. This reduces risk and ensures market acceptance.

Pilot program design
User feedback collection
Performance analysis
Product refinement
5. Launch & Market Rollout

We support you through the product launch with marketing materials, agent training, and operational readiness. Our comprehensive launch support ensures a smooth market introduction.

Marketing collateral development
Agent training programs
Operations setup and support
Launch monitoring and optimization
6. Ongoing Support & Optimization

Product development doesn't end at launch. We provide continuous monitoring, performance analysis, and optimization recommendations to ensure long-term success.

Performance monitoring
Market feedback analysis
Product enhancement recommendations
Compliance updates

Why Develop Products With Us?

Deep Market Understanding

With over 80 years of combined experience in South Africa's funeral insurance market, we understand what works and what doesn't. Our insights help you avoid costly mistakes.

End-to-End Support

From initial concept through to successful market rollout and beyond, we're with you every step of the way. You get the benefit of our full expertise and support network.

Compliance Confidence

As an Authorised FSP, we ensure your product meets all regulatory requirements from day one. No surprises, no compliance issues.

Innovation with Pragmatism

We encourage innovative thinking while keeping solutions practical and market-appropriate. Our products are designed to work in real-world conditions.

Ready to Develop Your Next Product?

Contact us to discuss your product ideas and learn how we can help bring them to market successfully.

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© 2026 Legacy Risk Consult. All rights reserved. Legacy Risk Consult (Pty) Ltd is a registered Financial Services Provider, FSP No: 45536, Registration Number: 1997/001746/07.

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