Chief Operations Officer (Britam General Insurance) – (2500004G)
Job Purpose and Key responsibilities
Job Purpose:
The Chief Operations Officer will be accountable for Overseeing the technical and non-technical operations supporting General Insurance Business with a core mandate to drive a robust underwriting and claims function to drive growth in underwriting profitability.
The role holder will also be responsible for setting and driving strategic direction and providing executive leadership and management to the business operations, focusing on ensuring the department’s performance meets or exceeds customer expectations while concurrently driving operational efficiencies. The role will play a significant role in developing and implementing processes and technology solutions necessary to achieve the organization’s business goals and objectives.
Key responsibilities:
- Oversee compliance with underwriting and claims guidelines and reinsurance treaty provisions in underwriting and claims.
- Oversee compliance with administration mandates for pension customers.
- Oversee the administration of treaty and facultative treaties including specialty risk structuring/pricing negotiations.
- Collaborate with IT and Customer Experience team to drive seamless customer experience.
- Collaborate with BD team in retention of customers/intermediaries.
- Collaborate with BD in specialty risk structuring/sales.
- Ensures inter-departmental coordination for business and operational efficiency.
- Leading and executing the operational strategy of the business by establishing and enforcing organizational goals, policies and operating procedures.
- Defines the service operations strategy to ensure the business provides world-class service to all customer segments.
- Ensure operational efficiency in Claims, Underwriting, Reinsurance, Group Life, Pension and AMC operations departments in accordance with established SLAs.
- Put in place standards for interdepartmental service level agreements that will improve the company’s service ratings.
- Defines annual operating budget for Operations and ensures unit operates at or below budget.
- Manage key relationships with clients, intermediaries and service providers in the market by ensuring that service to customers and producers meets their expectations.
- Provide effective leadership and direction to the various departmental heads. Managing and developing the team of Claims and Underwriting specialists.
- Carry out market intelligence to ensure the company is in tandem with industry trends and adopts pricing mechanisms that ensure profitability across all products.
- Driving process mapping and restructuring to obtain optimal operations with a clear bias for cost containment and fraud management. Identifies and implements on-going improvement initiatives to improve performance for Operations.
- Oversee and give technical guidance on all complex and large risks – both underwriting and claims.
- Evaluate reinsurance data and recommend changes where applicable to ensure a robust and optimal reinsurance program – Kenya and the Group.
- Review facultative placements, fronting, and special acceptance -waivers to ensure no expenditure.
- Ensure adherence of all regulatory requirements with regards to reinsurance, claims and technical acceptance of risks.
Knowledge, experience and qualifications required
Knowledge, experience and qualifications required:
- Bachelors’ degree in a business related filed.
- Masters’ degree is an added advantage.
- Professional qualification in Insurance (FIA/ SOA/ ACII/FLMI/AIIK).
- 7-10 years’ experience in the insurance industry 3-4 of which must be in a senior management.
- Proven experience as an Operations Manager within a Financial Services Industry (Banking and Finance/ Insurance).
- Extensive experience in ensuring operational risks are identified and managed.
- Significant experience in process mapping and restructuring to obtain optimal operations with a focus on cost containment and fraud management
- A deep understanding of leveraging data, technology and processes to standardize and automate operations, reducing turn-around times on all key business processes.
- A demonstrated track record in optimizing operations to enhance the overall customer experience at all customer contact points.
