PURPOSE:
CIC Insurance Group is a leading cooperative insurer with operations across East and Southern Africa. With a diverse portfolio spanning Life, General, and Micro Insurance businesses across multiple jurisdictions, CIC is committed to financial inclusion, innovation, and long-term sustainability. Reporting to the Group Managing Director & CEO, the Group Actuary role shall provide strategic actuarial leadership across all CIC Insurance Group entities, in close collaboration with the Group CFO, the role ensures regulatory compliance, optimal risk management, and sustainable profitability across multiple jurisdictions—while also driving innovation, establishing new business lines, and maintaining stakeholder confidence.
PRIMARY RESPONSIBILITIES:
Strategic Leadership & Group Governance (20% of time)
- Provide actuarial insights and leadership in strategic planning and budget development across all Group entities
- Lead actuarial valuations and sign-offs for all subsidiaries across Life, General and Micro Insurance operations
- Prepare and present comprehensive actuarial reports, analyses, and recommendations to Boards of Directors for all entities in the Group
- Maintain strategic relationships with regulatory bodies across multiple jurisdictions and industry players
- Drive cross-functional collaboration between actuarial teams, underwriting, product development, finance, and other departments across the Group
- Oversee adherence to all statutory and regulatory requirements, including IFRS 17, risk-based capital frameworks, and other reporting standards
- Support the preparation of Financial Condition Reports across the Group in conjunction with appointed/external actuaries.
Risk Management & Capital Optimization (15% of time)
- Lead implementation of robust risk management frameworks, including stress testing and scenario analysis to identify potential risks and recommend mitigation strategies across all entities
- Monitor capital management and solvency positions for the entire Group and develop risk-based capital models recommendations for all subsidiaries
- Manage Asset Liability Matching and provide investment performance recommendations
Product Development & Pricing Strategy (20% of time)
- Lead the pricing and design of innovative insurance products across Life, General and Micro Insurance to meet market demands and improve profitability
- Advise on appropriate ratings for existing products based on relevant market information and experience analysis
- Spearhead product rationalization and innovation across the Group, leading rollout of new products and revamping existing offerings
- Oversee experience analysis (claims, mortality, persistency, expenses, etc.) across all entities and provide strategic recommendations
- Collaborate with industry players to ensure adequate rates loss making lines of business
IFRS 17 Implementation & Advanced Reporting (15% of time)
- IFRS 17 implementation across all Group entities, developing specific policies and methodologies for implementation
- Oversee the generation of financial results under IFRS 17 standards across Life, General and Micro Insurance operations
- Lead the systemization initiatives for IFRS 17 reporting across multiple subsidiaries and jurisdictions
- Ensure consistency in IFRS 17 application and reporting standards across all Group entities
Reinsurance & Industry Analysis (10% of time)
- Provide recommendations on the suitability of reinsurance arrangements to all subsidiaries across Life, General and Micro Insurance
- Consolidate reinsurance treaty negotiations and operations at Group level to ensure synergies and increased cost efficiency
- Serve as thought leader in establishing market trends by presenting industry reports for all entities in the Group
- Negotiate with stakeholders to optimize reinsurance arrangements and build strategic partnerships
New Business Development & Strategy (10% of time)
- Lead the strategic development and launch of new business lines from concept through to market entry.
- Conduct detailed business case analyses, market feasibility assessments, and ensure alignment with regulatory frameworks for new ventures.
- Design innovative and market-relevant insurance products tailored to the needs of target customer segments.
- Establish appropriate pricing methodologies and actuarial frameworks suited to the unique characteristics of each new business line.
- Manage regulatory approval processes for new licenses and product filings across relevant jurisdictions.
- Develop and implement go-to-market strategies, including distribution channel design and strategic partnerships.
- Create fit-for-purpose risk management frameworks that support simplified processes, scalable operations, and effective fraud detection.
- Define operational and technological infrastructure needs, including data management, systems integration, and reporting capabilities.
People Leadership (10% of time)
- Lead performance management, coaching, and mentoring of actuarial staff across all Group entities
- Handle resource allocation, staffing decisions, and leave approval for the actuarial function Group-wide
- Plan and manage budgets for the actuarial department across all subsidiaries
- Develop and maintain actuarial talent pipeline through strategic hiring, training, and succession planning.
- Oversee the management of actuarial software solutions across all subsidiaries.
Key Skills, Knowledge, Experience and Behavioural Competencies
Academic and Professional Requirements:
- Education Bachelor’s Degree
- Bachelor of Business Science in Actuarial Science
- Masters in Econometrics
Professional Qualification
- Fellow of the Institute and Faculty of Actuaries (FIA); Chartered Actuary Fellow.
- Continuous Professional Development
- GRI Certified Sustainability Professional
·Relevant experience
- Minimum of 10 years’ relevant experience, with at least 7 years at leadership level.
- Proven experience in strategic management and commercial decision-making across multiple business lines, jurisdictions, and emerging markets.
- Deep expertise in financial reporting standards (IFRS 17, IFRS 9, IFRS 4, IAS 19) with application to emerging business lines.
Skills and Competencies:
- New business development expertise including market entry strategies, regulatory navigation, and startup operations.
- Advanced actuarial modelling expertise (Prophet, R, Python, C++, VBA, SQL) with adaptation capabilities for micro insurance.
- Comprehensive knowledge of Life, General, and Micro Insurance actuarial principles and practices.
- Regulatory engagement and compliance management across multiple jurisdictions including micro insurance licensing.
- Capital management and solvency optimization across diverse portfolios and new business ventures.
- Reinsurance strategy development and treaty negotiation capabilities including specialized micro insurance covers.
- Product development and pricing expertise across traditional and micro insurance markets.
- Risk management framework design and implementation across diverse customer segments.
- Asset Liability Management and investment strategy development.
- Market research and feasibility analysis for underserved customer segments.
- Leadership and people management across geographically distributed and cross-functional teams.
- ESG (Environmental, Social, Governance) strategy and sustainability reporting including financial inclusion initiatives.
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PURPOSE:
Reporting to the Director, Branch & Distribution, the regional manager will generate revenue for the company, increase visibility and presence within the specified geographical area. To create strong stakeholders’ value through overseeing efficient utilization of available resources and ensure customer focus across the region. This role is also responsible for managing relationship the shareholders representation from the cooperatives.
PRIMARY RESPONSIBILITIES:
Revenue generation and growth in all business lines i.e. General Business, CIC- Life, CICAM, Micro-Insurance.
- Develop and implement effective strategies and initiatives to generate revenue across the region across all subsidiary lines
- To formulate and implement pipelines management systems and ensure their control and periodic reviews for the region.
- Ensure increased quotation conversion rates through targeted sales strategies and follow-ups that are tracked weekly
- Ensure 85% renewal retention rate for all business lines by maintaining customer loyalty through service improvements
- Oversee and supporting Onboarding of new Intermediaries to grow business
- Support in opening up of new markets and distribution
- Ensure prudent underwriting and proactive claims oversight to sustain acceptable loss ratios in line with company standards.
- Enhance Product portfolio diversification through cross-selling and upselling
- Raise the company’s profile and enhancing its visibility by positioning it strategically in the region to ensure the biggest market share.
- High level Strategic lobbying and negotiation for tender businesses and big-ticket accounts
- Lead regional market intelligence gathering and coordinate competitive quotation inputs to support timely and well-informed underwriting decisions for tenders and non-tender business.
- Support the marketing regional teams.
Salesforce effectiveness
- Provide leadership and support to the staff, sales and marketing team by driving the implementation of the corporate strategy, through training and motivation to achieve the organizational objectives
- Ensure Performance review and strategy meeting at the regional level for all producers
- Ensure every branch holds weekly morning huddles and pipeline management discussions for all producers in the branch
- Ensure product training to Financial advisors, Marketing Executives, BSO, wealth advisors and underwriters within the region
- Ensure bi-weekly morning huddles and pipeline management discussions for all producers in the region
- Inculcate a high performing culture to the regional producers through mentoring, coaching and guidance
Business processes
- Consistently monitor and provide market intelligence reports and identify potential for both business acquisition and strategic planning
- Collaborate in product development for customized products to suit particular regional needs
- Prepare regular and periodic reports to management that provide the overall strategic performance of the department-topline and bottom line
- Support the development of regional targets and strategic plans that align with corporate priorities and performance expectations
- Overseeing the regional opex and capex budgets
- Conduct market activations and business promotions in liaison with PR team to increase brand visibility
- Efficient management of company resources
- Approve expenditure
Enhance Stakeholders & Intermediary engagements
- Representing the GMD/MD/Directors in regional engagements
- Oversee and support Recruitment, training and motivation of intermediaries for business growth and loyalty
- Participate and represent the company in all relevant forums e.g. cooperative societies AGMs, leader’s meetings and seminars
- Enhance high level relationships and engagements with high profile Cooperative entities, Key clients, Agents & Brokers through visitations and constant communication
- Organize and facilitate planned intermediary training sessions
- Organize regional intermediaries/Clients’ appreciation/motivational events
- Coordinate and support regional sponsorships and partnerships
- Identify and recommend strategic partnerships
- Review and recommend sponsorships
- Planning, Management and conducting delegates trainings and meeting
- Planning and conducting CIC group holding company directors and delegates elections
- Managing the political aspect of shareholding at the regional level
Internal processes and customer service
- Handle escalated cases of to maintain the established customer service standards
- Developing and maintaining high profile working relationships with intermediaries and customers and delivering good customer service by responding swiftly to their queries and concerns.
- To oversee customer service delivery, maintenance and improvement of service standards in order to ensure customer satisfaction and retention.
- Administratively handling all the branch matters by acting as the CEO of the region
- Assist the Director as and when assigned
Compliance
- Ensure full credit control policy compliance and standards
- Ensuring compliance with set underwriting guidelines
- Ensure compliance with both internal and external regulatory requirements at the branch level e.g. osh, local authority licensing etc.
- Ensure implementation and compliance with any other operational policies and procedures.
- Ensure shareholding requirements for Saccos within the region
Performance management and staff engagement
- Identify and facilitate regional Human Resource requirements including recruitment, training, career development and resource planning, in liaison with the P&C department and the Regional Manager
- Conduct KPI setting and review meetings to ensure alignment with annual goals
- Carry out performance appraisal, coaching and mentoring staff
Key Skills, Knowledge, Experience and Behavioural Competencies
Academic and Professional Requirements
- Education Bachelor’s Degree Bachelor’s Degree in Business related field,
- Professional Qualification Full Professional insurance qualification DIP CII/IIK
Experience Required:
Description
- Overall minimum of ten (10) years of experience with four (4) years in Supervisory and one (1) year in Managerial.
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