Head of Innovation & Growth at Jubilee Insurance

Job Ref. No: JLIL 283

Role Purpose
Reporting to the CEO, the role holder will be responsible for the development of a comprehensive innovation strategy for the Life business, driving customer and business growth through innovative solutions for emerging consumer segments. The role holder will be responsible for driving strategic innovation initiatives that position the company for long-term success and sustainable growth in a rapidly evolving marketplace.

Main Responsibilities

1. Strategy

• Innovation Strategy Development: Design and implement an Innovation and Growth Strategy aligned with corporate objectives. Monitor global and regional trends to ensure the company remains at the forefront of industry innovation.
• Business Growth Enablement: Identify and exploit new market opportunities and emerging consumer segments. Formulate strategies to enhance lead generation through digital platforms.
• Customer-Centric Solutions: Leverage data analytics and customer insights to craft innovative solutions that improve customer satisfaction and loyalty.

2. Operational

• Product Development: Lead ideation, design, and deployment of new life insurance products and services tailored to customer preferences.
• Ensure continuous assessment and refinement of existing product portfolios to meet market demands.
• Market Research: Conduct extensive market research to identify trends, consumer behaviors, and competitor activities. Monitor the external environment for innovative practices, technologies, and solutions to enhance business growth.
• Digital Lead Generation: Develop and execute strategies to optimize digital lead generation through innovative digital platforms and campaigns.
• Collaboration: Work closely with internal teams, including Marketing, Sales, IT, and Underwriting, to ensure seamless integration of new products and processes.
• Partnership Management: Cultivate strategic partnerships with external stakeholders, including but not limited to startups, technology vendors, and industry experts, to enhance innovation capabilities and access new markets.
• Risk Management: Identify and address risks associated with new initiatives, ensuring adherence to regulatory frameworks and internal policies.
• Change Management: Promote a culture of innovation by championing creativity and collaboration across the organization.
• Performance Monitoring: Establish and track KPIs to measure the success of innovation and growth projects, ensuring alignment with business objectives.
• Thought Leadership: Represent the company in industry forums, conferences, and networking events to establish thought leadership and build strategic connections.

3. Jubilee Life Brand

• Ensuring effective public relations and enhancing the company’s corporate image with all stakeholders and partners.

4. Corporate Governance

• Ensure compliance with all regulatory and industry standards related to product development and innovation.
• Establish frameworks for ethical risk management in all innovation initiatives.
• Uphold transparency and integrity in stakeholder engagements and partnerships.

5. Leadership & Culture

• Lead and manage a team, providing guidance, coaching, and performance feedback.
• Foster a corporate culture that promotes ethical practices and good retail citizenship while maintaining a conducive work environment.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• Individualized Development Planning: Create personalized development plans that align with your career aspirations and the organization's objectives.

Key Competencies

• Strategic Thinking: Ability to align innovation initiatives with long-term business goals.
• Creativity and Innovation: Demonstrates a proactive approach to problem-solving and ideation.
• Leadership and Collaboration: Strong interpersonal skills to lead teams and foster collaboration across functions.
• Analytical Skills: Proficient in data-driven decision-making and leveraging insights for strategy formulation.
• Communication Skills: Excellent verbal and written communication for stakeholder engagement and thought leadership.

Academic Background & Relevant Qualifications

• Bachelor’s degree in Actuarial Science, Business Administration, Marketing, Economics, Commerce, IT, or related fields.
• MBA or equivalent postgraduate qualification is an added advantage.
• Professional certification in Project Management (e.g., PMP).
• Minimum of 10 years in a similar role, with a proven track record in driving innovation and growth.
• Experience in product development, digital lead generation, and strategic partnerships.
• Demonstrated ability to lead change management and foster a culture of innovation.