At a glance
- Closing date
- The listing does not give one. Employers often close early when they have enough applicants, so apply soon.
- Where
- Lagos, Nigeria
- How to apply
- On myjobmag.com, where the employer takes applications.
- Similar roles
- 3 other open Insurance roles on the Nigeria board right now.
The Insurance Specialist will be responsible for managing and coordinating all insurance matters across the Group. The role will ensure that the Group maintains adequate and cost-effective insurance coverage, manages claims efficiently, monitors policy compliance, drives timely renewals, and supports risk mitigation initiatives across all business operations. The successful candidate will serve as the primary liaison between the Group, insurance brokers, insurers, and internal stakeholders to ensure optimal protection of the Company's assets, people, operations, and liabilities.
Key Responsibilities
Insurance Portfolio Management
Manage the Group's entire insurance portfolio across all business units and Nigerian related entities.
Maintain an up-to-date register of all insurance policies, schedules, limits, premiums, and renewal dates.
Review insurance coverage periodically to identify gaps, overlaps, and opportunities for optimization.
Ensure adequate coverage is maintained for all operational, financial, and strategic risks.
Policy Placement and Renewals
Coordinate annual and interim insurance renewals.
Prepare underwriting information and submissions for insurers and brokers.
Obtain quotations from multiple insurers and brokers and conduct comparative analysis.
Lead negotiations on premiums, coverage enhancements, policy terms, and deductibles.
Recommend the most cost-effective insurance solutions to management.
Claims Management
Coordinate and manage all insurance claims from notification through settlement.
Work closely with insurers, brokers, legal and related stakeholders.
Ensure prompt documentation and submission of claims.
Track claims progress and facilitate timely recovery of claim proceeds.
Maintain a comprehensive claims database and periodic management reports.
Risk Assessment and Advisory
Conduct insurance and risk reviews of business operations.
Support enterprise risk management initiatives from an insurance perspective.
Advise management on emerging risks and required insurance solutions.
Participate in project reviews to ensure adequate insurance considerations during expansion, acquisitions, and new business initiatives.
Stakeholder and Vendor Management
Serve as the primary contact point for insurance brokers and insurance companies.
Coordinate insurer site surveys, risk inspections, and compliance reviews.
Develop and maintain strong relationships with insurance market participants.
Ensure adherence to service-level performance agreements by brokers and insurers.
Governance and Compliance
Ensure compliance with insurance policy warranties, conditions, and statutory requirements.
Monitor insurance documentation and record retention.
Support internal and external audits relating to insurance matters.
Ensure all insurance transactions are properly documented and approved.
Management Reporting
Prepare monthly and quarterly insurance reports.
Report on premiums, claims status, coverage adequacy, recoveries, outstanding claims, and upcoming renewals.
Provide management with insurance cost trends and optimization opportunities.
Qualifications
Education
Bachelor's Degree in Insurance, Actuarial Science, Risk Management, Accounting, Finance, Economics, Business Administration, or related discipline.
Professional Certifications (Preferred)
Chartered Insurance Institute of Nigeria (CIIN).
Associate Chartered Insurance Institute (ACII).
Chartered Insurance Professional (CIP).
Risk Management certifications will be an added advantage.
Experience
Mandatory
Minimum of 5-8 years' relevant experience in:
An Insurance Company; or
A reputable Insurance Brokerage Firm; or
A large corporate organization managing insurance programs.
Preferred
Experience managing multiple classes of insurance, including:
Property Damage
Business Interruption
Motor Fleet
Marine Cargo
Group Life
Group Personal Accident
Employers' Liability
Public Liability
Fidelity Guarantee
Professional Indemnity
Directors & Officers Liability
Cyber Insurance
Technical Competencies
Strong understanding of insurance principles and policy wordings.
Knowledge of the Nigerian insurance market.
Claims administration and recovery expertise.
Policy placement and renewal management.
Insurance risk assessment.
Contract and policy review skills.
Advanced Excel and reporting skills.
Financial analysis and budgeting capabilities.
Key Performance Indicators (KPIs)
100% renewal of critical policies before expiry.
Reduction in uninsured exposures and coverage gaps.
Claims recovery rate.
Average claims settlement cycle time.
Insurance cost savings achieved through negotiations.
Compliance with policy conditions and regulatory requirements.
Accuracy and timeliness of insurance reporting.
Minimum qualifications
BA/BSc/HND
How to apply
Interested and qualified? Go to Sunbeth Global Concepts (SGC) on sunbeth.seamlesshiring.com to apply
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