Head of General

Job Title

Head General Insurance

The objective of the Sector / Department (Summary)

The objective of the General Insurance Department is to lead and manage all aspects of general insurance operations within the organization. This includes overseeing the (Underwriting, Claims Management, and Reinsurance functions, ensuring compliance with the local and international regulatory framework, and maintaining alignment with corporate objectives. The department aims to develop innovative products, deliver exceptional customer service, and drive operational efficiency, while fostering a risk-aware culture and protecting the organization's financial interests. Through strategic oversight, the department supports the growth and sustainability of the business, contributing to overall organizational success.

Primary Job Purpose

The Head of General Insurance is responsible for leading the strategic and operational functions of the General Insurance Department, which includes overseeing the Public Offering (IPO) processes, Claims Management, and Reinsurance activities. This role ensures that all functions align with the organizations business goals and local regulatory requirements. The Head will work closely with senior management to develop and implement strategies to enhance product offerings, improve claims processes, and manage reinsurance arrangements, ultimately maximizing profitability, customer satisfaction, and risk management.

Key Responsibilities & Accountabilities

Key Accountability Areas

Key Responsibilities

• General Insurance Management :
• Oversee and manage the overall general insurance operations, ensuring alignment with business goals and regulatory requirements.
• Lead the design and implementation of insurance products and services to meet market demands.
• Monitor performance and profitability of general insurance products, making necessary adjustments to optimize outcomes.
• Ensure effective coordination and collaboration across all departments involved in general insurance operations.
• Underwriting Management
• Lead the design, development, and execution of the company's public offering strategies and processes.
• Ensure the smooth and efficient execution of public offering projects, in collaboration with relevant departments and external advisors.
• Oversee the due diligence, pricing, and regulatory compliance for IPOs.
• Monitor market trends to identify opportunities and risks related to Underwriting in the general insurance market.
• Claims Management
• Lead the management and optimization of the claims function, ensuring efficient claims processing and customer satisfaction.
• Oversee claims investigation, approval processes, and settlements, ensuring compliance with company policies and industry regulations.
• Develop strategies to minimize claims costs while maintaining high levels of service quality.
• Analyse claims data to identify trends and improve risk management strategies.
• Reinsurance
• Develop and manage the companys reinsurance strategy, ensuring effective risk transfer and mitigation.
• Oversee negotiations with reinsurance partners and ensure the optimal placement of reinsurance contracts.
• Ensure that reinsurance arrangements comply with regulatory requirements and align with company risk appetite.
• Monitor the performance of reinsurance treaties and manage relationships with reinsurers to optimize terms and conditions.
• Team Leadership & Development
• Lead, mentor, and develop the general insurance team to ensure high performance and continuous improvement in all areas.
• Foster a culture of collaboration, accountability, and professional growth.
• Ensure the team is well-equipped to meet changing market conditions and customer demands.
• Regulatory Compliance
• Ensure that all insurance products, claims management processes, and reinsurance arrangements comply with the regulatory framework in the Kingdom of Saudi Arabia.
• Stay abreast of changes in insurance regulations and ensure company practices adapt accordingly.
• Stakeholder Management
• Collaborate with senior management and other departments to align insurance strategies with overall business objectives.
• Serve as the key point of contact for external stakeholders, including regulators, reinsurers, and partners.
• Strategic Planning & Reporting
• Develop and implement long-term strategies for growth in public offering, claims management, and reinsurance operations.
• Provide regular reports to the executive team on the performance of the General Insurance Department, identifying opportunities and challenges.
• Financial Management
• Oversee the budgeting process for the General Insurance Department, ensuring cost-effective practices.
• Manage the financial performance of insurance products, claims, and reinsurance functions to ensure profitability.

Essential Requirements

Educational Qualification(s)

Certification(s)

Knowledge & Experience

Skills

Language(s) known