Chief Commercial Officer Insurance

**Chief Commercial Officer Insurance**

**International Insurance Company**

**Salary Negotiable - plus good package**

**Full-time**

**This job is located in the Maldives and requires relocation.**

An attractive remuneration depending on the qualification and experience. Other benefits as per Company’s policy

**Introduction / Background**

The employer is a large Insuranceservice provider offering total solutions with a comprehensive range of General, Life insurance and Takaful services.Today with a local management, they are a prominent insurance brand contributing to the growth and developmentof the country. They have tremendous growth over the past decades, both in terms of the volume and business profitability.

Their customers are well spread across the country. From the fisherman who owns small fishing boats to the major resort operators, our clients are varied in their trades and in their size.

Having gathered and recognized the experience of the local market, developing professionalism and expertise in the field, theyare poised to play a responsible role in the development of the insurance industry and its economy as a whole.

**Reporting**:
This position holder shall report to the Managing Director and is expected to workclosely with Senior Management team.

**Overall responsibilitiesof the **Chief Commercial Officer Insurance**
- Work closely with the Managing Director to develop and implement Underwriting and Commercial strategies in line with company goals and objectives
- Establish solid relationships with members of the Management Team in order to improve team performance
- Oversee the development of Underwriting guidelines, policies and procedures to select, price and control risk
- Provide insurance expertise in strategic discussions around the structure, market, distribution strategy and operational strategy
- Develop, implement and execute commercial strategies designed to grow the business and contribute to the Company’s strategic goals, whilst workingwith the Intermediaries to expand their market position by understanding their marketplace, identifying strategicgrowth opportunities and devising plans to exploit these.
- Monitor performance of commercial activities using key metrics and prepare reports for Senior Management and the Board where necessary and in strict timelines
- Ensure continual professional development of Team members by coordinating training and development opportunities

**Specific Duties of the **Chief Commercial Officer Insurance**
- Develop options and recommendations for alternate insurance policy/contract structures
- Provide professional advice and risk management solutions
- Provide guidance to develop risk-assessment processes, practices, and guidelines for the Underwriting
- Provide advice and support to the Underwriters and Technical staffs in the areas of Underwriting and Reinsurance of existing products, ensuring recommendations to reflect industry’s best practices
- Review existing Underwriting and Reinsurance policies, procedures and SOPs to identify process gaps and areas for improvement that align with industry and best suitable option for the market
- Explore new market and business opportunities and introduce new products based on market needs
- Establish and maintain good relationship with clients, design and negotiate cost-effective insurance programs to cater to clients’ needs
- Review and analyze overall performance of the existing products and provide suggestion to maximize business growth and market share
- Responsible for the design, implementation and monitoring of the sales and distribution strategy
- Build and maintain profitable partnerships with key stakeholders especially intermediaries
- Conduct market research for detailed business plans to address premium rates, demands and competition
- Innovate and strategize on how to capture new and expand the existing business
- Plan and organize events, product exhibitions and coordinate promotional activities
- Implement and maintain sales processes designed to achieve specific sales objectives
- Assist in setting financial targets, budget development and monitoring
- Periodic evaluation of product performance and provide recommendations for review and design of new products
- Monitor product performance against forecast and design strategies to meet expectations
- Build and maintain constructive and effective relationships with clients by regular visits to ensure that their needs are satisfied to strengthen the relationship
- Conduct presentations, workshops, and training seminars for the team and potential clients as an when required
- Coach, mentor and develop team members to broaden their leadership role, knowledge and experience
- Identify and develop a team members through succession planning to takeover the assigned functions by the end of contract period

**Minimum qualification / Experience of the **Chief Commercial Officer Insurance**
- Master’s degree in Business, Sales or Business Administration with over 10 years of leadership experience in a similar level role in Business Development or Sales in an insurance company.
- ACII or equivalent qualification in Insurance will be an added advantage

**Desired Skills and competencies**
- Exceptional knowledge and technique of Business Development, Sales and managing intermediaries
- Proven accountability for profitable underwriting result
- Excellent knowledge and experience ofinsurance concepts, coverage & rate analysis
- Passionate customer advocacy and deep understanding of changing market dynamics
- Excellent analytical and leadership skills
- Creative and entrepreneurial spirit to acquire/generate sales

**Package & Duration of employment**
- An attractive remuneration depending on the qualification and experience. Other benefits as per the Company’s policy