Job Details

Job Description

Job Summary

Reporting to the Chief Executive Officer, the role of Executive Head of Individual Life will be responsible providing strategic direction, operational oversight, and leadership in the individual life insurance segment. The job holder will play a crucial role in driving business growth, developing markets, developing and managing relationships ensuring profitability on individual life products and enhancing the overall customer experience in the individual life insurance sector.

Purpose of the role

• Monitoring and analysis of financial performance metrics to develop and implement an Individual Life business strategy that meets profitability targets.
• Conducting market research to identify trends and gaps in the product range and leading the development and enhancement of individual life insurance product to ensure that they meet customer needs and comply with regulatory requirements.
• Monitoring industry trends, industry activities, and regulatory changes to proactively adapt the business model and capitalize on market opportunities that will expand the individual life insurance portfolio.
• Fostering strategic partnerships and collaborations to enhance product offerings and distribution channels.
• Implementing efficient operational processes to streamline underwriting, claims processing, and customer service functions, and continuously assessing and improving operational efficiency and customer satisfaction metrics.
• Collaborating with sales and marketing teams to drive brand awareness and attract new customers, increasing the individual life file size.
• Implementing cost-effective measures and resource allocation strategies for the individual life insurance division to ensure that financial targets are exceeded.
• Implement cost-effective measures and revenue-generating initiatives to maximize profitability.
• Evaluation and enhancement of existing processes to meet the highest standards of systems, regulatory compliance, strategic objectives, and client requirements.
• Employing decisive negotiation skills and decision-making authority in communicating with regulators, industry associations, and partners, to ensure favorable outcomes and mutually beneficial agreements.
• Monitoring client preferences to drive sales efforts for both new business and organic growth.
• Oversight of risk management practices within the individual life insurance segment, ensuring compliance with industry regulations and internal policies.
• Fostering a collaborative and inclusive work environment, and work culture to maximize team productivity.
• Providing data-driven reports to the executive and non-executive leadership on the performance of the corporate business segment.

Minimum qualifications and experience

• Grade 12 (or equivalent)
• Bachelor’s Degree in Business Administration, Marketing, Sales and Sales Management or Equivalent Professional Qualification.
• Masters Degree in Business Administration or Equivalent. Qualification in Life Assurance is a major advantage
• 10 years In-depth knowledge of insurance products, regulations, and market trends.
• Proven executive leadership experience in the insurance, banking or similar industry, with a focus on individual life insurance.
• Financial acumen and experience in managing P&L for a business segment.
• Technical Knowledge of Group Risks Business, Pensions, and Micro Insurance.
• Strong strategic planning, analytical, and problem-solving skills. Demonstrably strong communication and negotiation abilities. Demonstrated ability to drive innovation and change within an organization.
• In-depth knowledge of various insurance products, market dynamics, and regulatory requirements.
• Leadership experience in driving cross-functional collaboration

Do you have the confidence to take to take up this role and be part of a winning organization?

Interested candidates who meet the minimum qualifications should apply to the Executive Head of Human Capital, Sanlam Life Insurance Zambia Limited, Zenera House, Corner Lagos and Lubuto Roads P.O. Box 31991, Lusaka Zambia or email to [email protected] not later than 26th February 2024.

Please submit a cover letter, CV demonstrating your suitability for the role, and supporting credentials as One PDF Document .

Only shortlisted candidates will be contacted.