Role Overview
Minet Kenya is seeking a Head of Innovation to lead the design, development, and execution of transformative insurance solutions. The successful candidate will drive growth and competitive advantage by fostering a culture of continuous improvement and creative thinking across the organization. This role requires a strategic thinker with a deep understanding of the insurance landscape and a passion for customer-centric innovation.
Duties and Responsibilities
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 Business Development and Marketing to drive market penetration and customer adoption.
- Ensure cross-functional teams work in an agile and collaborative environment.
Stakeholder Engagement
- Act as a strategic liaison between the Executive Committee and key stakeholders to align innovation priorities.
- 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.
- Conduct continuous competitor analysis and industry benchmarking to identify whitespace opportunities.
Culture and Capability Building
- Champion a culture of innovation through innovation hubs, workshops, and creative engagements.
- Mentor internal teams on innovation best practices.
Innovation Governance and Investment Oversight
- Establish and lead the innovation governance framework and stage-gate decision processes.
- Chair the Innovation Review Committee and oversee the innovation investment portfolio.
- Ensure all innovation initiatives comply with applicable regulatory and governance standards.
Skills and Qualifications
- Experience: 7 - 10 years of relevant experience, with at least 3 - 5 years in innovation leadership, product development, or digital transformation in insurance, Insurtech, or financial services.
- Education: Bachelor’s degree in a business-related field (Commerce, Finance, or Economics).
- Certifications: Professional certifications in Project Management or Innovation are desirable.
- Advanced Education: MBA in Strategic Management, MSc in Innovation, Entrepreneurship, or Digital Transformation is an added advantage.
- Industry Specifics: A Diploma in Insurance (IIK) or Chartered Insurance Professional (ACII) and IT qualifications are added advantages.
- Core Competencies: Ability to align innovation with long-term goals, proficiency in digital tools/data analytics, and strong organizational change management skills.
