Job Description

Job Purpose

The Insurance Director is responsible for leading and overseeing the organization's insurance strategy, risk management framework, and insurance operations. This role ensures optimal coverage, cost efficiency, regulatory compliance, and alignment with the company's overall business objectives.

Key Responsibilities

1. Strategy & Leadership

Develop and implement the organization's insurance and risk management strategy.
Lead the insurance function, setting goals, KPIs, and performance standards.
Advise executive management on insurance-related risks and opportunities.

2. Insurance Program Management

Design, negotiate, and manage all corporate insurance policies (e.g., property, liability, medical, motor, etc.).
Evaluate coverage needs and ensure adequate protection against potential risks.
Manage relationships with insurance brokers, insurers, and service providers.

3. Risk Management

Identify, assess, and mitigate organizational risks through effective insurance solutions.
Conduct periodic risk assessments and recommend improvements.
Ensure alignment with enterprise risk management (ERM) practices.

4. Claims Management

Oversee the claims process to ensure timely and cost-effective settlements.
Review major claims and provide strategic direction.
Analyze claims data to identify trends and reduce future exposure.

5. Compliance & Governance

Ensure compliance with local insurance regulations and corporate governance standards.
Maintain proper documentation and audit readiness.
Liaise with regulatory authorities when required.

6. Financial Management

Develop and manage the insurance budget.
Monitor premiums, claims costs, and cost-saving opportunities.
Provide financial analysis and reporting to senior management.

7. Stakeholder Management

Collaborate with internal departments (HR, Legal, Finance, Operations).
Provide insurance guidance for contracts, projects, and new initiatives.
Support business continuity and crisis management planning.

Qualifications & Requirements

Bachelor's degree in Insurance, Risk Management, Finance, Business Administration, or related field.
Master's degree or professional certifications (e.g., CII, CPCU, ARM) preferred.
Minimum 10–15 years of experience in insurance or risk management, with at least 5 years in a leadership role.
Strong knowledge of insurance markets, policy structures, and regulatory requirements.
Experience in corporate insurance programs and claims handling.

Skills & Competencies