Head Of Operations

Location: Dar es Salaam, Tanzania

Reports to: Chief Operating Officer

Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling Life, Pensions, General and Medical Insurance. Today, Jubilee is the number one insurer in East Africa with over 450,000 clients. Jubilee Insurance has a network of offices in Kenya, Uganda, Tanzania, Burundi, and Mauritius. It is the only ISO certified insurance group listed on the three East Africa stock exchanges – The Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities Exchange. Its regional offices are highly rated on leadership, quality and risk management and have been awarded an AA- in Kenya and Uganda, and an A+ in Tanzania. For more information, visit www.JubileeInsurance.com.

Role Purpose

The role holder is responsible for supporting the COO by overseeing and managing the operational activities within the company. The role holder ensures efficient service delivery, compliance with regulations, and effective management of key internal functions to provide superior services to clients. The role holder is responsible for overseeing and managing key operational areas, including claims (both retail and group life), reinsurance, premium administration, and underwriting, Customer service, Risk & Compliance, Pension, Actuarial units and all other operations functions.

Main Responsibilities

Strategy

1. Collaborate with Chief Operating Officer and other key stakeholders to implement the strategic direction for operations within claims (both retail, group life and Pension business), reinsurance, premium administration, and underwriting. This involves analyzing market trends, assessing industry dynamics, and identifying opportunities for improvement and growth.
2. Risk Management: Assess and manage risks, considering factors such as policy coverage, claims frequency, severity, and overall risk exposure. Develop and implement risk mitigation strategies to minimize potential financial and reputational risks.
3. Customer Experience Enhancement: Develop and implement initiatives to improve customer experience. This includes identifying pain points, implementing automation and digitization strategies, and fostering a customer-centric approach.
4. Monitor industry trends and developments in claims management and reinsurance practices, recommending and implementing process improvements and innovations.

Operational

1. Oversee the claims process to ensure timely and accurate settlement, while also identifying areas for process improvement and cost efficiency.
2. Manage the premium administration process, including policy issuance, premium collection, and reconciliation.
3. Provide leadership and guidance to the underwriting team, ensuring that risk assessments are conducted accurately and in accordance with established guidelines.
4. Manage the efficient and effective management of claims processes within the Business.
5. Manage the efficient and accurate administration of policies, ensuring the provision of exceptional customer service to policyholders and all stakeholders.
6. Ensure proper policies, procedures and processes are in place for all the various sections. Ensure they are adhered to and are employees are complying to the ISO standards.
7. Oversee and support the budgeting, reporting, planning, and auditing of the Operations function within your docket.
8. Monitor operational performance metrics, identify areas for improvement, and implement strategies to enhance operational efficiency and effectiveness.
9. Ensure accurate and timely processing and payment of benefits and claims as per agreed TAT.
10. Track and monitor all policy benefits payouts and commissions to ensure that they are in line with projected experience and provide recommendations if the actual outcome significantly varies from expected.
11. Support growth of the Retail and Corporate Business portfolio by maintaining high levels of service standards while supporting retention and relationship management.
12. Ensure timely collection, processing and allocation/posting of premiums/contributions.
13. Support product development to ensure they meet customer needs and keep abreast with the ever-changing environment.
14. Ensure Disaster Management and Business Continuity Plans for the Operations Teams.
15. Administration of agreements with third party service providers
16. Provide the required MIS reports on all sections on a monthly basis.
17. Support the Life systems’ review processes and give frequent recommendations on areas of improvement.
18. Establish and maintain strong relationships with key clients, addressing their needs, and proactively identifying opportunities to enhance their experience.
19. Monitor client feedback, analyze trends, and implement measures to improve service quality and exceed client expectations.

Corporate Governance

1. Compliance: Stay updated on industry regulations, compliance requirements, and best practices.
2. Adherence to the laws and regulations of Tanzania, the policies and regulations within the insurance industry and all internal company policies and procedures.
3. Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.
4. Implement effective risk management strategies, including appropriate internal controls, to mitigate operational, financial, and regulatory risks.

Leadership & Culture

1. Building the team capabilities and ensuring adequate succession planning within the department
2. Fostering a retail culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
3. Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
4. To provide the much-needed transformational leadership to meet and surpass the expectations of stakeholders.
5. Set performance targets and objectives, monitor progress, and ensure timely completion of activities.
6. Conduct regular team meetings and training sessions to enhance skills and knowledge related to claims handling and industry trends.
7. Building relevant departmental capacity to deliver on strategy by leading, guiding, directing, and evaluating the work of the team.

Key Competence

• Leadership: Ability to lead and motivate a team, driving high performance and fostering a collaborative work environment.
• Strategic Thinking: Capacity to develop and implement strategies and policies to optimize claims and reinsurance processes.
• Analytical Skills: Strong analytical and problem-solving skills to assess complex claims and reinsurance issues and identify solutions.
• Relationship Management: Excellent interpersonal and communication skills to build and maintain relationships with internal and external stakeholders.
• Financial Acumen: Understanding of financial principles and budget management.
• Regulatory Compliance: Knowledge of insurance regulations and compliance requirements to ensure adherence in claims and reinsurance operations.
• Process Improvement: Ability to identify opportunities for process optimization and implement improvements to enhance efficiency and effectiveness.
• Strong knowledge and understanding of the life insurance industry is essential.
• Deep understanding of life insurance products, actuarial principles, underwriting processes, risk management, and regulatory compliance specific to life insurance.

Qualifications & Experience

• Bachelor’s degree in insurance, Finance, Business, or any other related course
• Master’s Degree in a Business-related course will be an added advantage.
• Diploma in Insurance
• Minimum 8-10 years’ experience
• Demonstrated experience in a leadership role, overseeing and managing a team.
• In-depth knowledge of life and pensions products, policies, and regulations.
• Proven track record of successfully implementing strategic initiatives and driving process improvements.
• Proven experience in a leadership or managerial role. Minimum of 5 years.

If you are qualified and seeking an exciting new challenge, please apply quoting the Job Title and Location by 28 February 2025 to recruitment@jubileelifeinsurance.co.tz

Only shortlisted candidates will be contacted.