Head of Medical Insurance Business
2025-05-20T13:48:05+00:00
Absa Bank Limited
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FULL_TIME
Nairobi
Nairobi
00100
Kenya
Banking
Admin & Office
2025-05-22T17:00:00+00:00
Kenya
8
Job Description
Absa Bank Limited (Absa) is a wholly owned subsidiary of Barclays Africa Group Limited. Absa offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance.
Head of Medical Insurance Business (First Assurance Kenya)
Accountability: Strategic:
- Develop and implement the overall strategic plan for the medical insurance business, aligned with the company’s overall business objectives.
- Develop and execute medical department strategy that ensures the sustainable growth across the business.
- Drive the sound financial management of the Medical Insurance Business through portfolio management, process optimization, risk-based pricing, and cost discipline.
- Build strong networks and foster positive productive and mutually beneficial business partnerships and relationships both internally and externally.
- Conduct market research and analysis to identify new business opportunities, assess market trends, and identify competitive advantages.
- Develop and implement innovate product offerings, including new products, value added services and digital health solutions.
- Monitor and analyse key performance indicators (KPIs) related to the medical department, premium, income, claims experience, customer retention and profitability.
- Identify and implement cost saving measures to improve the profitability of the medical insurance business.
- Prepare regular reports on the financial performance of the medical insurance business and report in various business meetings.
- Lead the sales and marketing efforts for the medical department, including developing and implementing sales strategies, building and maintaining strong relationships with key clients and intermediaries.
- Drive new business growth through proactive sales initiatives, client relationship management, and strategic partnerships with hospitals, clinics and other health providers.
Accountability: Operations Management:
- Oversee the day-to-day operations of the medical department ensuring efficient and effective service delivery of services to clients.
- Oversee the claims processing function, ensuring timely and accurate payment of claims to healthcare providers
- Develop and maintain strong relationships with healthcare service providers, negotiating favourable rates and service agreements.
Accountability: People Management:
- Lead, mentor and develop a high performing team of medical insurance professionals, including underwriters, claims officers, Business Development and customer service teams.
- Foster a positive and collaborative work environment that encourages innovation and teamwork
- Together with the Human Capital Team, determine the people management strategy for the area with a focus on talent management, development, resourcing and retention. Communicate the strategy to managers in the area.
- Recruit, hire and onboard talented individuals to support the growth of the medical insurance business
- Continuously mentor the heads of sections within the medical department on proactive people management techniques.
- Coach the heads of sections on how to conduct meaningful Performance
- Development discussions with their direct reports and ensure that they conduct the process effectively
- Review training needs analysis conducted by heads of sections. Approve training budgets and review training expenditure to ensure that allocated funds are well utilised.
- Establish and maintain a succession plan for the key roles in the area and review and approve succession plans for the department.
- Review workforce and recruitment plans for the area and re-allocate resources where required.
- Act as highest escalation point for all grievances raised in the business unit.
Accountability: Risk Management:
- Identify and mitigate potential risks associated with the medical insurance business, including operational, financial, and reputational risks.
- Ensure compliance with all relevant regulatory requirements.
- Act as key sponsor for the area’s Risk Management Control Framework
- Review audit issues/findings, log to ensure adequate attention is given to closure within the agreed timelines.
- Review and approve Detailed Risk and Control Assessments prepared in the function.
- Oversee the development of Key Risk Scenarios.
- Drive a culture of proactive compliance in the function.
- Any other duties that fall under the responsibility of Head of Medical Insurance Business at First Assurance Company.
Education and Qualifications Required (Essential):
- Must have a Bachelor’s Degree in Finance, Insurance, Actuarial, Business related or any other relevant degree from a recognized university.
- A Master Degree is an added advantage.
- Relevant professional qualification in Insurance, Actuarial, Accounting that is – ACII, CPA, ACTUARIAL
- Must be a member of a professional body in good standing.
Desired work experience:
- Minimum of 12 years of experience in the insurance industry, with at least 7 years in a senior leadership role within the medical insurance sector.
- Strong understanding of the Kenyan healthcare market, including regulations, trends, and key players.
- Proven track record of successful business development, sales and team leadership.
- Proven experience in business strategy definition and execution journey, with a high exposure to Medical Insurance.
- Good technical insurance knowledge, including underwriting matters.
- Excellent analytical, problem – solving and decision-making skills
- Overall digital awareness and IT acumen within the insurance or financial sector.
- Excellent leader, with proven ability to engage teams.
- Infallible work ethic.
Accountability: Strategic: Develop and implement the overall strategic plan for the medical insurance business, aligned with the company’s overall business objectives. Develop and execute medical department strategy that ensures the sustainable growth across the business. Drive the sound financial management of the Medical Insurance Business through portfolio management, process optimization, risk-based pricing, and cost discipline. Build strong networks and foster positive productive and mutually beneficial business partnerships and relationships both internally and externally. Conduct market research and analysis to identify new business opportunities, assess market trends, and identify competitive advantages. Develop and implement innovate product offerings, including new products, value added services and digital health solutions. Monitor and analyse key performance indicators (KPIs) related to the medical department, premium, income, claims experience, customer retention and profitability. Identify and implement cost saving measures to improve the profitability of the medical insurance business. Prepare regular reports on the financial performance of the medical insurance business and report in various business meetings. Lead the sales and marketing efforts for the medical department, including developing and implementing sales strategies, building and maintaining strong relationships with key clients and intermediaries. Drive new business growth through proactive sales initiatives, client relationship management, and strategic partnerships with hospitals, clinics and other health providers. Accountability: Operations Management: Oversee the day-to-day operations of the medical department ensuring efficient and effective service delivery of services to clients. Oversee the claims processing function, ensuring timely and accurate payment of claims to healthcare providers Develop and maintain strong relationships with healthcare service providers, negotiating favourable rates and service agreements. Accountability: People Management: Lead, mentor and develop a high performing team of medical insurance professionals, including underwriters, claims officers, Business Development and customer service teams. Foster a positive and collaborative work environment that encourages innovation and teamwork Together with the Human Capital Team, determine the people management strategy for the area with a focus on talent management, development, resourcing and retention. Communicate the strategy to managers in the area. Recruit, hire and onboard talented individuals to support the growth of the medical insurance business Continuously mentor the heads of sections within the medical department on proactive people management techniques. Coach the heads of sections on how to conduct meaningful Performance Development discussions with their direct reports and ensure that they conduct the process effectively Review training needs analysis conducted by heads of sections. Approve training budgets and review training expenditure to ensure that allocated funds are well utilised. Establish and maintain a succession plan for the key roles in the area and review and approve succession plans for the department. Review workforce and recruitment plans for the area and re-allocate resources where required. Act as highest escalation point for all grievances raised in the business unit. Accountability: Risk Management: Identify and mitigate potential risks associated with the medical insurance business, including operational, financial, and reputational risks. Ensure compliance with all relevant regulatory requirements. Act as key sponsor for the area’s Risk Management Control Framework Review audit issues/findings, log to ensure adequate attention is given to closure within the agreed timelines. Review and approve Detailed Risk and Control Assessments prepared in the function. Oversee the development of Key Risk Scenarios. Drive a culture of proactive compliance in the function. Any other duties that fall under the responsibility of Head of Medical Insurance Business at First Assurance Company.
Strong understanding of the Kenyan healthcare market, including regulations, trends, and key players. Proven track record of successful business development, sales and team leadership. Proven experience in business strategy definition and execution journey, with a high exposure to Medical Insurance. Good technical insurance knowledge, including underwriting matters. Excellent analytical, problem – solving and decision-making skills Overall digital awareness and IT acumen within the insurance or financial sector. Excellent leader, with proven ability to engage teams. Infallible work ethic.
Must have a Bachelor’s Degree in Finance, Insurance, Actuarial, Business related or any other relevant degree from a recognized university. A Master Degree is an added advantage. Relevant professional qualification in Insurance, Actuarial, Accounting that is – ACII, CPA, ACTUARIAL Must be a member of a professional body in good standing. Minimum of 12 years of experience in the insurance industry, with at least 7 years in a senior leadership role within the medical insurance sector.
JOB-682c88156f100
Vacancy title:
Head of Medical Insurance Business
[Type: FULL_TIME, Industry: Banking, Category: Admin & Office]
Jobs at:
Absa Bank Limited
Deadline of this Job:
Thursday, May 22 2025
Duty Station:
Nairobi | Nairobi | Kenya
Summary
Date Posted: Tuesday, May 20 2025, Base Salary: Not Disclosed
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JOB DETAILS:
Job Description
Absa Bank Limited (Absa) is a wholly owned subsidiary of Barclays Africa Group Limited. Absa offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance.
Head of Medical Insurance Business (First Assurance Kenya)
Key Responsibilities
Accountability: Strategic:
- Develop and implement the overall strategic plan for the medical insurance business, aligned with the company’s overall business objectives.
- Develop and execute medical department strategy that ensures the sustainable growth across the business.
- Drive the sound financial management of the Medical Insurance Business through portfolio management, process optimization, risk-based pricing, and cost discipline.
- Build strong networks and foster positive productive and mutually beneficial business partnerships and relationships both internally and externally.
- Conduct market research and analysis to identify new business opportunities, assess market trends, and identify competitive advantages.
- Develop and implement innovate product offerings, including new products, value added services and digital health solutions.
- Monitor and analyse key performance indicators (KPIs) related to the medical department, premium, income, claims experience, customer retention and profitability.
- Identify and implement cost saving measures to improve the profitability of the medical insurance business.
- Prepare regular reports on the financial performance of the medical insurance business and report in various business meetings.
- Lead the sales and marketing efforts for the medical department, including developing and implementing sales strategies, building and maintaining strong relationships with key clients and intermediaries.
- Drive new business growth through proactive sales initiatives, client relationship management, and strategic partnerships with hospitals, clinics and other health providers.
Accountability: Operations Management:
- Oversee the day-to-day operations of the medical department ensuring efficient and effective service delivery of services to clients.
- Oversee the claims processing function, ensuring timely and accurate payment of claims to healthcare providers
- Develop and maintain strong relationships with healthcare service providers, negotiating favourable rates and service agreements.
Accountability: People Management:
- Lead, mentor and develop a high performing team of medical insurance professionals, including underwriters, claims officers, Business Development and customer service teams.
- Foster a positive and collaborative work environment that encourages innovation and teamwork
- Together with the Human Capital Team, determine the people management strategy for the area with a focus on talent management, development, resourcing and retention. Communicate the strategy to managers in the area.
- Recruit, hire and onboard talented individuals to support the growth of the medical insurance business
- Continuously mentor the heads of sections within the medical department on proactive people management techniques.
- Coach the heads of sections on how to conduct meaningful Performance
- Development discussions with their direct reports and ensure that they conduct the process effectively
- Review training needs analysis conducted by heads of sections. Approve training budgets and review training expenditure to ensure that allocated funds are well utilised.
- Establish and maintain a succession plan for the key roles in the area and review and approve succession plans for the department.
- Review workforce and recruitment plans for the area and re-allocate resources where required.
- Act as highest escalation point for all grievances raised in the business unit.
Accountability: Risk Management:
- Identify and mitigate potential risks associated with the medical insurance business, including operational, financial, and reputational risks.
- Ensure compliance with all relevant regulatory requirements.
- Act as key sponsor for the area’s Risk Management Control Framework
- Review audit issues/findings, log to ensure adequate attention is given to closure within the agreed timelines.
- Review and approve Detailed Risk and Control Assessments prepared in the function.
- Oversee the development of Key Risk Scenarios.
- Drive a culture of proactive compliance in the function.
- Any other duties that fall under the responsibility of Head of Medical Insurance Business at First Assurance Company.
Education and Qualifications Required (Essential):
- Must have a Bachelor’s Degree in Finance, Insurance, Actuarial, Business related or any other relevant degree from a recognized university.
- A Master Degree is an added advantage.
- Relevant professional qualification in Insurance, Actuarial, Accounting that is – ACII, CPA, ACTUARIAL
- Must be a member of a professional body in good standing.
Desired work experience:
- Minimum of 12 years of experience in the insurance industry, with at least 7 years in a senior leadership role within the medical insurance sector.
- Strong understanding of the Kenyan healthcare market, including regulations, trends, and key players.
- Proven track record of successful business development, sales and team leadership.
- Proven experience in business strategy definition and execution journey, with a high exposure to Medical Insurance.
- Good technical insurance knowledge, including underwriting matters.
- Excellent analytical, problem – solving and decision-making skills
- Overall digital awareness and IT acumen within the insurance or financial sector.
- Excellent leader, with proven ability to engage teams.
- Infallible work ethic.
Work Hours: 8
Experience in Months: 144
Level of Education: bachelor degree
Job application procedure
Method of Application
Submit your CV and Application on Company Website : Click Here
Closing Date : May 22, 2025
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