Insurance Specialist

Sunbeth Global Concepts Limited

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.

Job Details

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.

Requirements

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.

About Company

Sunbeth Global Concepts Limited

Sunbeth Global Concepts is a global agro-commodities sourcing and trading company empowering farmers and creating socio-economic impact through strategic partnerships, innovation, and industry expertise.