Director of Insurance

Confidential; Riyadh; On-site; SAR 600,000 - 900,000; Full time

Job summary

Confidential is seeking an Insurance Director to lead the organization’s insurance strategy, risk management framework, and insurance operations, ensuring optimal coverage, cost efficiency, regulatory compliance, and alignment with business objectives.

You will design and implement the insurance program across property, liability, medical, and motor lines; manage brokers and insurers; oversee claims; maintain ERM alignment; develop budgets; and advise senior management on insurance risks and

Qualifications

• Bachelor's degree in Insurance, Risk Management, Finance, Business Administration, or related field.
• Master's degree or professional certifications (CII, CPCU, ARM) preferred.
• Minimum 10-15 years of experience in insurance or risk management, with at least 5 years in a leadership role.

Responsibilities

• Develop and implement the organization's insurance and risk management strategy.
• Lead the insurance function, setting goals, KPIs, and performance standards.
• Advise executive management on insurance-related risks and opportunities.
• Design, negotiate, and manage all corporate insurance policies (e.g., property, liability, medical, motor, etc.).
• Evaluate coverage needs and ensure adequate protection against potential risks.
• Manage relationships with insurance brokers, insurers, and service providers.
• Identify, assess, and mitigate organizational risks through effective insurance solutions.
• Conduct periodic risk assessments and recommend improvements.
• Ensure alignment with enterprise risk management (ERM) practices.
• Oversee the claims process to ensure timely and cost-effective settlements.
• Review major claims and provide strategic direction.
• Analyze claims data to identify trends and reduce future exposure.
• Ensure compliance with local insurance regulations and corporate governance standards.
• Maintain proper documentation and audit readiness.
• Liaise with regulatory authorities when required.
• Develop and manage the insurance budget.
• Monitor premiums, claims costs, and cost-saving opportunities.
• Provide financial analysis and reporting to senior management.
• Collaborate with internal departments (HR, Legal, Finance, Operations).
• Provide insurance guidance for contracts, projects, and new initiatives.
• Support business continuity and crisis management planning.

Skills

Leadership

Strategic thinking

Negotiation

Vendor management

Risk assessment

Analytical skills

Communication

Education

Bachelor's degree in Insurance, Risk Management, Finance, Business Administration, or related field

Master's degree or professional certifications (CII, CPCU, ARM) preferred

Job description

The Insurance Director is responsible for leading and overseeing the organization's insurance strategy, risk management framework, and insurance operations. This role ensures optimal coverage, cost efficiency, regulatory compliance, and alignment with the company's overall business objectives.

Key Responsibilities

• Develop and implement the organization's insurance and risk management strategy.
• Lead the insurance function, setting goals, KPIs, and performance standards.
• Advise executive management on insurance-related risks and opportunities.

2. Insurance Program Management

• Design, negotiate, and manage all corporate insurance policies (e.g., property, liability, medical, motor, etc.).
• Evaluate coverage needs and ensure adequate protection against potential risks.
• Manage relationships with insurance brokers, insurers, and service providers.
• Identify, assess, and mitigate organizational risks through effective insurance solutions.
• Conduct periodic risk assessments and recommend improvements.
• Ensure alignment with enterprise risk management (ERM) practices.

4. Claims Management

• Oversee the claims process to ensure timely and cost-effective settlements.
• Review major claims and provide strategic direction.
• Analyze claims data to identify trends and reduce future exposure.

5. Compliance & Governance

• Ensure compliance with local insurance regulations and corporate governance standards.
• Maintain proper documentation and audit readiness.
• Liaise with regulatory authorities when required.
• Develop and manage the insurance budget.
• Monitor premiums, claims costs, and cost-saving opportunities.
• Provide financial analysis and reporting to senior management.

7. Stakeholder Management

• Collaborate with internal departments (HR, Legal, Finance, Operations).
• Provide insurance guidance for contracts, projects, and new initiatives.
• Support business continuity and crisis management planning.

Qualifications & Requirements

• Bachelor's degree in Insurance, Risk Management, Finance, Business Administration, or related field.
• Master's degree or professional certifications (e.g., CII, CPCU, ARM) preferred.
• Minimum 10-15 years of experience in insurance or risk management, with at least 5 years in a leadership role.
• Strong knowledge of insurance markets, policy structures, and regulatory requirements.
• Experience in corporate insurance programs and claims handling.
• Strategic thinking and leadership
• Negotiation and vendor management
• Risk assessment and analytical skills
• Strong communication and stakeholder management

KPIs (Key Performance Indicators)

• Cost optimization of insurance premiums
• Claims settlement efficiency and turnaround time
• Compliance and audit results