Who we are
GIG Gulf is part of the Gulf Insurance Group (GIG), the #1 largest regional composite insurer in the Middle East and North Africa, with presence in 13 markets including Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates. GIG Group reported consolidated assets stand at US$ 4.4 billion as of 31 December 2022. The majority shareholder of GIG Group is Toronto based Fairfax Financia Holding, a global leader in insurance and reinsurance with a presence in 40 markets.
GIG Gulf is an ‘A’ rated regional insurer with a top 5 position in each of its markets (UAE, Oman, Qatar, Bahrain). GIG Gulf has been present in the region for over 70 years with a strategic focus on both growth and investments and is a one stop shop offering a wide range of insurance products and services that cater to a broad variety of needs for corporates, SMEs and individual customers throughout UAE, Oman, Bahrain, and Qatar. GIG Gulf also owns a 50% stake in GIG Saudi. Our strategic objectives and guiding principles are focused on Regional Growth, Customer Experience and Digital Transformation.
GIG Gulf has created a diverse and inclusive working environment and culture with a workforce of over 800 employees, with over 60 nationalities, across 15 branches and retail shops region-wide and over 1 million customers. GIG Gulf is a caring partner that encourages customers to achieve their goals and live an inspiring and fulfilling life. We are obsessed with customer feedback and continuously evolving to become the region’s digital insurer of reference, committed to running our operations in a responsible, sustainable way.
Job purpose:
- Drive the profitable growth of GIG Gulf’s Healthcare and Group Life business in Oman with the support of the local and regional offering, pricing and underwriting teams
- Position our offering and servicing capacity as best-in-class, by leveraging GIG Gulf’s technical and operational excellence as well as the company’s capacity as the largest regional insurer in the GCC.
- Manage and be responsible for the Oman Employee Benefits P&L
- Be at the forefront of promoting GIG Gulf in the country through our broker channel and with a strong connection with the respective regulators.
- Engage with regulators and foster relationships with our strategic partners to develop locally relevant solutions aligned with Oman’s aspirations from a Medical and Life protection.
Operational & technical responsibilities:
Business Development Strategy Planning at top and bottom line for Oman:
- Define and execute a comprehensive healthcare business development strategy for GIG Gulf, closely collaborating with underwriting, operational, wellness, claims, netowork and pricing teams.
- Own the healthcare sales and profits results and ensure the achievement of business targets across segments.
- Explore and document new segments as the market and consumers evolves and work collaborate with the pricing and underwriting teams to validate the risk appetite
- Find the balance between a growth strategy and profitability and manage the relationships, the segmentation and the engagement with brokers accordingly
- Build, develop, and strengthen relationships with key brokers within the scope to enhance their value contribution to GIG Gulf’s healthcare business at highest levels enabling sales team under his/her organization to successfully grow the business
Lead the Oman Medical operational Teams :
- Lead strategically the work of our internal Oman TPA, network, processing of claims and preapprovals and customer service ensuring the value proposition is delivered as per GIG standards and Oman population needs in a profitable, compliant and sustainable manner.
Regulatory Compliance and Market Monitoring:
- Maintain a strong relationship with Oman’s regulatory authorities, understanding their implications for GIG Gulf and actively monitoring the development of new healthcare schemes.
- Identify market trends early and implement corrective actions to ensure successful business development and target achievement compared to prior plans.
Strategic Planning and Financial Input:
- Provide solid, detailed, and well-founded input on business development ambitions within the scope of GIG Gulf’s recurring financial planning process and business planning exercises.
Team Development and Performance Management:
- Develop and coach direct reports to facilitate their growth and improve performance, including the dismissal of underperforming staff as needed and appropriate
Exercise Delegations of Authority within Oman on all Employee Benefits areas.
Role Requirements:
Essential:
- Proven professional track-record showcasing capability to deliver in the role
- Expertise in business development and strategic planning
- Solid and deep understanding of the insurance market in the GCC region
- Well versed with the principles of Health and Life pricing and underwriting as well as the Healthcare operation and provider management
- Expertise in Health offering (including but not limited to product details, features, coverage, pricing considerations, policyholder needs addressed, etc.)
- Strong capability to proactively engage with regulatory bodies on matters related to GIG Gulf’s business in the country – successfully promoting the company’s views
- Strong understanding for macro-economic trends and the opportunities and threats that these represent for the business
- Bachelor’s degree in relevant filed.
Desirable:
- P&L experience
- Omani nationals would be prioritized for this role
- Master’s degree would be a plus