Job Purpose:
The Chief Operating Officer will be accountable for setting and driving strategic direction and providing executive leadership and management to the General Insurance Operations Organization, focusing on ensuring the department's performance meets or exceeds customer expectations while concurrently driving operational efficiencies. The COO will play a significant role in developing and implementing processes and technology solutions necessary to achieve the organization’s business goals and objectives
Knowledge, experience and qualifications required
Bachelors’ degree in a business related filed
Masters’ degree is an added advantage
Professional qualification in Insurance (ACII, FLMI or 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 technology and processes to standardise operations, reducing turn-around times on all key business processes.
A demonstrated track record in optimising operations to enhance the overall customer experience at all customer contact points.
Responsibilities
Leading and executing the operational strategy of the GI business by Establishing and enforcing organizational goals, policies and operating procedures
In liaison with the Underwriting Manager, ensure that the underwriting policies reflect the Company’s strategic risk management framework and are observed at all times. Ensure risk control mechanisms are in place
In liaison with the Claims Manager, ensure that the claims policies reflect the company’s strategic risk management framework and are observed at all times Ensure risk control mechanisms are in place
Defines the service operations strategy to ensure the business provides world-class service to all customer segments.
Ensure operational efficiency in claims, underwriting, reinsurance and customer service departments in accordance with established SLAs.
Put in place standards for interdepartmental service level agreements that will improve the company’s service ratings
Ensuring service levels agreements with external customers and partners are put in place and are adhered to
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.
Put in place control mechanisms that enable a measure of service satisfaction by agents, brokers, customers and the regulator
Optimizing the use of technology, people, and defined processes to achieve an optimum competitive positioning and standardize operations and reduce turn-around time on key business processes. in the business unit.
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 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
Perform any other duties as may be assigned from time to time.
Job Requirements
Required education
: Bachelor's degree
Required relevant work experience
: 7 years
Required languages:
English (Spoken: fluent | Written: fluent)
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