Lead - Insurance

Description: Responsible for managing group-wide commercial insurance, risk coverage, claims, and broker/insurer relationships, with quarterly travel to Nigeria. Oversees insurance programs, renewals, underwriting, regulatory monitoring, and process improvements across businesses.

Eligibility: 15+ years of client-side insurance experience; MBA in Insurance or AIII preferred.

Key Responsibilities:

Insurance Program Management:

- Manage the Groups commercial insurance portfolio, including property, liability, marine, directors & officers, business interruption, and other relevant insurance covers.

- Ensure adequate risk coverage across all business units while optimizing premium costs.

- Lead insurance program design, renewal negotiations, and policy placement.

- Review insurance policies to ensure alignment with operational risks and contractual obligations.

Broker & Insurer Relationship Management:

- Develop and maintain strong relationships with insurance brokers, underwriters, and insurance companies.

- Evaluate broker performance and ensure they deliver optimal coverage solutions and competitive pricing.

- Negotiate policy terms, conditions, and premiums with insurers.

- Coordinate with brokers to ensure timely placement and renewal of policies.

Risk Assessment & Coverage Strategy:

- Conduct risk assessments across group entities to identify exposure and coverage gaps.

- Recommend and implement risk mitigation and transfer strategies.

- Work with internal stakeholders to align insurance coverage with business expansion and operational changes.

Claims Management:

- Oversee end-to-end claims management, including claim notification, documentation, and settlement negotiations.

- Ensure timely and efficient claim processing with insurers and brokers.

- Monitor claims trends and develop strategies to reduce future risk exposure.

Underwriting & Policy Administration:

- Coordinate underwriting data submissions and documentation for policy renewals.

- Maintain accurate records of insurance policies, endorsements, claims history, and risk reports.

- Support internal teams with policy interpretation and coverage clarification.

Regulatory Compliance & Monitoring:

- Monitor insurance regulations and compliance requirements in relevant jurisdictions.

- Ensure the Groups insurance programs comply with local and international regulatory frameworks.

- Coordinate with legal and compliance teams regarding regulatory updates affecting insurance coverage.

Process Improvement & Governance:

- Establish and implement standardized insurance management processes across group companies.

- Introduce improvements in insurance reporting, policy tracking, and risk documentation systems.

- Provide regular reports and insights to senior management regarding insurance exposure, claims trends, and cost optimization opportunities.

Stakeholder Coordination:

- Work closely with finance, legal, operations, and business heads to understand insurance needs.

- Support contract reviews to ensure appropriate insurance clauses and risk coverage requirements.

- Provide training and awareness to business teams regarding insurance policies and risk management practices.

International Coordination:

- Coordinate with regional teams and insurers in Africa (especially Nigeria).

- Conduct quarterly travel to Nigeria to review insurance coverage, claims progress, and risk management processes.