Purpose for the Job
The Head of Innovation will lead the design, development, and execution of transformative insurance solutions to drive growth and competitive advantage. This role requires a strategic thinker with a strong understanding of the insurance landscape, an ability to coordinate cross-functional teams, and a passion for delivering customer-centric innovations. The role is also responsible for fostering a culture of continuous improvement and creative thinking across the organization.
Duties and Responsiblities
Innovation Strategy and Execution
- Lead the end-to-end innovation process from ideation to commercialization of new insurance products, services, and distribution models.
- Design, test, and execute pilot initiatives, using customer and market data to refine offerings for optimal market fit.
- Build and manage a robust internal innovation pipeline aligned with the company’s strategic goals and market trends.
Product Development and Go-to-Market
- Develop compelling business cases for new product ideas, including market opportunity analysis, financial modelling, and risk assessment.
- Oversee timely go-to-market planning and execution, ensuring cross-functional alignment and efficient resource allocation.
- Monitor post-launch performance to inform iterative improvement and scaling decisions.
Cross-Functional Leadership
- Coordinate with teams from all broking and consulting business units to ensure seamless product development and launch processes.
- Collaborate with BD and Marketing to drive market penetration, customer adoption, and product positioning.
- Ensure cross-functional teams work in an agile and collaborative environment to rapidly iterate and innovate.
Stakeholder Engagement
- Act as a strategic liaison between the CEO and key stakeholders, both internal and external, to ensure alignment on innovation priorities and initiatives.
- Represent the organization in external innovation forums, strategic partnerships, and industry think tanks.
Market Intelligence and Foresight
- Provide strategic insight into emerging technologies, regulatory changes, and market shifts that could impact the insurance industry.
- Conduct continuous competitor analysis, client insight gathering, and industry benchmarking to identify whitespace opportunities.
Culture and Capability Building
- Champion a culture of innovation across all levels of the organization through the creation of innovation hubs, workshops and other creative engagements.
- Mentor internal teams on innovation best practices and foster cross-departmental collaboration.
Key Competencies
- Ability to align innovation initiatives with our long-term goals and develop a culture of continuous improvement.
- Strong understanding of the Kenyan insurance landscape, including regulatory requirements and emerging trends.
- Proficiency in leveraging digital tools, data analytics and automation to enhance customer experience and operational efficiency.
- Skill in identifying customer pain points and co-creating innovative products or services that meet evolving client needs.
- Competence in leading cross-functional teams and delivering innovation projects on time and within scope.
- Ability to drive organizational change and get buy-in from key inteal and exteal stakeholders.
- Strong analytical skills to identify market gaps, track competitors, and benchmark best practices globally and locally.
- 7 - 10 years of relevant experience with at least 3 - 5 years in innovation leadership roles, product development or digital transformation in insurance/Insurtech or financial services.
Knowledge And Skills Required
Professional and Academic Qualifications
- A bachelor’s degree in a business-related field such as Commerce, Finance, or Economics is required.
- Professional certifications in Project Management or Innovation are desirable.
- A master’s degree such as an MBA in Strategic Management, Innovation, or Technology, or an MSc in Innovation, Entrepreneurship, or Digital Transformation will be an added advantage.
- A Diploma in Insurance IIK or Chartered Insurance Professional qualification ACII will be an added advantage.
