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Job

Regional Head of Life Insurance

  • Location

    Nairobi, Kenya

  • Sector:

    Insurance

  • Job type:

    Permanent

  • Contact:

    Sehar Neky

  • Job ref:

    175

  • Published:

    11 months ago

  • Expiry date:

    2019-03-03

  • Consultant:

    #

Our client is the largest Composite Insurer in East Africa, with offices in Kenya, Uganda, Tanzania, Burundi and Mauritius. The company is listed on the Nairobi Securities Exchange, Dar Es Salaam Stock Exchange and the Uganda Securities Exchange having been rated highly on Leadership, Quality and Risk Management and awarded AA- rating in Kenya & Uganda and an A+ in Tanzania.

The Role

As a member of the senior leadership team the Regional Head of Life has overall responsibility for setting the strategic direction of the company’s Long-term insurance activity and for providing leadership to achieve the strategic objectives and budgets.

The Regional Head of Life will report to the Regional CEO, and directly manage the Heads of Life in Kenya, Uganda and Tanzania. S/he will interface with clients, reinsurers, intermediaries, actuaries, regulators, suppliers, and all insurance industry bodies.

Key Responsibilities

  • In coordination with the CEO, establish the strategic direction and business goals of the Group’s Long-term (Individual & Group Life, Pension, Annuity) business, including: sales, marketing, customer orientation and technical operations.
  • To coordinate and work with the life team management and Board of Director’s in each territory to establish budgets and operational plans consistent with the Group strategy and implement appropriate monitoring and reporting systems.
  • To establish Group business standards in terms of: training systems, underwriting and business processes and develop synergies across all regional operations to maximize the benefits of the regional administration platform.
  • To develop robust agency distribution systems in each market that enable the company to outperform its peers across the region in terms of sales, productivity and persistency.
  • To drive the development of bancassurance distribution models in all markets that are aligned with local regulatory frameworks and enable the company to maximize its market penetration and share for individual Life sales through this channel.
  • To develop Group Life, Pension and Annuity distribution strategies, including Broker engagement that maximizes profitable growth.
  • To develop a sustainable Life micro-insurance strategy for the company which links into the Group’s network of companies, NGO’s and MFI’s.
  • To develop a long-term business product strategy for company, which optimizes operational efficiencies and serves the needs of consumers whilst achieving sustainable profit margins with optimal use of reinsurance and capital.
  • In coordination with the company’s IT team, to develop a digital strategy that leverages technology to provide on-line service options for all clients and create a suite of digitally enabled products suited for on-line sales.
  • To establish the human resources capacity and organizational structure that enables the company’s Life operations to successfully pursue the identified strategies: including training systems, talent development, succession planning and job rotation to create depth in the organization that can support growth plans.
  • To implement robust compliance and risk management systems that set industry standards in each market.
  • To actively manage the company’s regional Life business through the establishment of a consistent business reporting system and by conducting regular visits to all subsidiaries.
  • To keep the company CEO and other stakeholders informed on key business developments and trends through regular high quality, informative reports.
  • To build relationships with reinsurers and potential strategic partners from the insurance and financial services sector.

Key Deliverables

  1. Achievement of the strategic vision of the company with regards to its Long-term insurance business, e.g. growth and market share in each market of operation, RoE of each business etc. through building the required competencies and capacities.
  2. Create robust distributions systems that enable the company to establish market-leading productivity standards, supported by excellent training programmes, that attract and retain the best talent.
  3. Innovation of product offerings and delivery platforms that leverage the power of technology.

Role Requirements

Academic Qualifications

  • Degree or equivalent in a business-related field; or
  • Professional qualification e.g. FCII/ACII or Life Office Management (FLMI, etc.)

Key Competencies

  • Excellent Leadership and communication skills that can mobilize teams across multiple markets.
  • Digitally aware and comfortable with the application of technology in a business arena.
  • Life insurance knowledge that enables sound interface with actuarial teams.
  • Results oriented.
  • Pro-active individual that leads by example.
  • Ability to travel frequently and when needed for extended periods.
  • Ownership & Commitment
  • Team Spirit.
  • Commitment to ethics.

Relevant Experience

  • 10+ years Life insurance experience, preferably with exposure in an emerging markets environment; some experience in a developed market would be an asset.
  • Candidates should be able to demonstrate a track record of bottom line accountability and result attainment.
  • Commercial orientation and hands-on experience of sales and distribution activities, including agency networks and banc-assurance partnerships.
  • Will be able to demonstrate success in building teams and an ability to work across territories and influence management in regional operations to achieve optimum results.
  • Track record of dealing with regulators and government bodies.

Functional Skills

  • Demonstrated capability in the technical management of distribution, operations and financial reporting of Life business in the region.
  • Excellent communication, report writing, analytical, planning, people management, and interpersonal skills
  • Strong project management ability
  • Market intelligence and business development skills
  • Business strategy formulation, Business planning and implementation skillset
  • Change management skills
  • Sales & Marketing of Life Insurance skillset