It is existentially urgent to figure out a way to provide insurance for the mass market. Turaco’s mission is to free people from the fear of financial shocks. Our 25-year goal is to insure a billion people, doubling the number of people insured globally.
Turaco is a fast-growing financial services start-up in Africa that is bringing a new model to health and other risk financing for emerging customers. We are building subscription-based insurance products for the mass market bundled with regular transactions that people are already doing. Turaco works through partnerships to offer affordable insurance products that add real value to people’s lives. At Turaco we value simplicity, affordability, and transparency and strive to transform how insurance works. When it comes to claims, our goal is to pay out, and fast.
Turaco embraces diversity and inclusion in the workplace - we’re building a team where our differences complement each other and make us stronger. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic.
Since launching in Jan 2019, Turaco has acquired 1,000,000+ end users. We are growing very fast and looking for team members who can grow with us. To learn more, visit www.turaco.insure
About the role
Turaco is looking for an Insurance Operations Lead to work at our Lagos office reporting directly to the Nigeria General Manager and dotted to the Head of Insurance Operations. This individual will drive the claims handling experience, policy administration, and underwriter relationship management in Nigeria.
Key Roles & Responsibilities
- Ensure partners submit insurance policy information in a timely fashion to Turaco
- Manage the correct capturing of partner customers’ policies on TACO (our Insurance CRM)
- Handle timely and accurate preparation of all billing reports/statements for partners and underwriters.
- Maintain accurate, up-to-date records of all claims initiated with the corresponding digital documentation in our Insurance CRM system.
- Ensure that the Claims team provides timely and accurate responses to claims reported by partners and customers.
- Supervise the team to ensure that claims are processed and closed within the specified turnaround times.
- Own the claims handling journey from initiation, data gathering, analysis, approvals, and payments while ensuring a high level of operational delivery quality.
- Supervise the preparation of claims reports for partners and insurers per agreed timelines.
Underwriter Relationship Management
- Develop, negotiate, and finalize insurance policy contracts and SLAs with insurers.
- Work with the Finance team to ensure the underwriter’s premiums are remitted within agreed timelines.
- Handle submission of all billing reports/statements to insurers for all products every month.
- Lead and conclude all regulatory filings as dictated by the Insurance regulator, including but not limited to license renewals.
- Work with insurers’ claims team to reconcile and refund all claims prepaid by Turaco.
Regulator Relationship Management
- Build mastery of the regulatory environment for microinsurance in Nigeria.
- Channel all industry and regulatory updates that could potentially affect Turaco’s status and operations to management.
- Ensure the timely and accurate submission of all data required by the insurance regulator.
- Ensure the timely renewal of Turaco’s operating license with the insurance regulator.
- Keep up to date with any regulator-driven capacity-building programs for the team to attend.
- Ensure that at all times, Turaco remains in good standing with the insurance regulator
- Engage with the insurance regulator on any matters requiring regulatory notification, approval, or oversight.
Other Exciting aspects of the role
- This role has a natural progression to being a manager for insurance operations. Experience supervising a team is desired.
- Product design: Understand existing Turaco insurance products and work closely with the partnerships team to design new products to meet partner needs.
- Reporting: Provide timely and accurate monthly country Insurance Ops metrics touching on insurance policies, premiums, claims, and the team.
- Contracting, Documentation & SoPs: Ensure that all operational processes and procedures are appropriately documented, and procedures are updated on an ongoing basis.
Desired Knowledge Skills and Abilities
- Live Turaco’s values – care and protect our customers, do the right thing, low ego, and have fun
- Bachelor's degree in Business, Management, or a related field. Professional Certifications in Insurance are a plus.
- 3 to 5 years of professional experience in the insurance industry. Candidates engaged in innovative insurance work are encouraged to apply.
- Strong knowledge of insurance policy administration, claims handling, and underwriter engagement.
- Advanced data analysis skills useful for generating reports from our CRM.
- Excellent interpersonal skills and communication skills, including oral and written
- A high sense of empathy toward insurance-related interactions.
- Ability to work autonomously and take initiative, solve problems (solution-oriented),
- Willingness to work as a team member with people in and outside of Turaco’s organization from differing backgrounds, geographies, and cultures.
Our Company Culture
Our company values are; Care & Protect, Do the right thing, Have fun, and Low ego. Our values inform the culture we have built at Turaco. Our work demands care and protects our customers, we believe in honesty, taking initiative, having fun while working, and being humble at all times. If these words describe you, join us!
Total Compensation & Benefits
Turaco offers a competitive salary commensurate with experience. We combine that with a mix of useful employment benefits like stock option plans, office lunches, an L&D stipend, healthcare, and a company culture that allows you to enjoy your work while making meaningful connections.