Fifteen years ago, AAR Insurance Group CFO Hosea Kiprop won the US Green Card lottery. He went through all the stages of applying for permanent residency, but at the last minute, he changed his mind.
“I consider this one of the best decisions I have ever made. Looking back at my accomplishments so far and imagining what I would be doing in the USA, I have no regrets. Staying in Kenya has allowed me to build a career I am proud of, forge meaningful relationships, and contribute to the community in ways that align with my values. The opportunities I have embraced here have shaped me into the person I am today, and I would not trade that for anything,” he says.
The years since then have seen Hosea manage finance operations across different countries in the region including Kenya, Uganda, Tanzania and Zambia. He has also gained immense experience from operations in global environments and travelled across Africa, Europe and Asia.
A defining moment for Hosea’s professional life was the challenge of reshaping and aligning AAR Insurance’s business operating model with the company’s digital transformation strategy, where he played a critical role. Through collaboration with a health technology partner, AAR Insurance implemented an innovative model that revolutionised its claims administration process, enhancing efficiency and contributing to the company’s growth. For its efforts, the company scooped seven prestigious accolades at the 2024 Think Business Awards, including the Medical Underwriter of the Year award and Claims Settlement award.
Championing synergies
The insurer recently celebrated its 40th anniversary, a milestone Hosea considers a testament to the strength and resilience of its strategy. He also feels honoured to have been involved in the group’s due diligence exercises to raise fresh capital and design capital optimisation strategies including a reorganisation, which minimised the external funding required. As he recounts AAR’s achievements over the past few years, Hosea speaks with obvious pride in the organisation’s journey, his clear sense of purpose evident.
“Sound corporate governance and capital management has ensured compliance with capital requirements as required by the Insurance Regulatory Authority of Kenya and Uganda. Through an efficient shared service centre, we have minimised duplication of functions and costs in the group and reduced operational costs. In line with our growth and innovation strategy, we have successfully created and launched our innovation hub dubbed 3.0, which has been instrumental in driving the development of new innovative products and reinforcing our commitment to delivering innovative solutions to meet the evolving needs for our customers and stakeholders,” he explains.
Hosea has also championed synergies created by AAR’s unique ecosystem. This includes a partnership with global health services company Cigna Healthcare to offer international medical insurance products. Under his leadership, AAR Insurance was an early adopter of IFRS 17, the new accounting standard for insurance contracts. The smooth in-house implementation ensured the organisation minimised its compliance costs. This also received commendation by the Insurance Regulatory Authority (IRA). Although such accomplishments are often considered synonymous with success, Hosea’s definition of a successful life encompasses more.
“Professional success is a mix of achieving a reasonable level of financial stability while doing work you enjoy. It is the state where you find both happiness and fulfillment with your life and career choices. If you love your job but find that it does not lead to financial self-sufficiency, professional success is impaired. If you get paid very well but lack joy or interest in your chosen career field, professional success is diminished. Genuine career success requires that there is alignment between the two. I have discovered that if you are to have meaningful professional success, it goes beyond money and titles. It is about finding meaning and purpose in what you do, you must also experience inner peace and joy for it to really matter,” he explains.
Leadership philosophy
This philosophy has seen him through the lows of his career, including the exit of AAR’s business from Tanzania and Zambia. Although this was a strategic move informed by the business environment in those markets, the Group was forced to relinquish a significant market share after investing time and effort.
“I am happy the decision paid off and we are soon reinvesting in those markets in addition to new ones, the business lesson is that at times you need to shrink for you to grow stronger,” he says.
Hosea identifies with American author and speaker John Maxwell’s teachings and philosophies, having trained in his five levels of leadership. He believes leadership lies not in self-advancement but in advancing others. These teachings and philosophies drive his leadership style. In his experience, leading by example is more effective than direct instruction. He builds trust with his colleagues through consistent performance and brings out the best in them through coaching and delegation.
“In his book The 21 Irrefutable Laws of Leadership, law five emphasises the importance of leaders serving others. Maxwell asserts that true leadership is gauged by the value added through service to others, rather than personal advancement. By prioritising service to employees and customers, profits naturally follow. A leader is someone who not only knows the way but also leads by example and guides others along the path. I think we should all practice these principles,” Hosea explains.
Personal conviction
Even in his speech, Hosea’s strong Christian faith is unmistakable. Since he was a child, those closest to him have called him ‘Kip’, short for Kiprop, which means ‘born in the time of rain’, often seen as a blessing in his native Tugen community. His faith has been a source of strength in times of personal loss.
“We lost a colleague who was also a close friend in 2022 through a tragic road accident. He was a brilliant, honest, likeable and hardworking gentleman. I was with him in a meeting a few hours before his trip, and he was full of life. This experience taught me that life is unpredictable. We need to do our best every day. Give memorable and worthy experiences to your family, friends, colleagues, and community each day. We cannot procrastinate. Above all, pray every day and put your faith in God. Trust in Him and he will guide your paths,” he says.
While his job gives him a sense of fulfilment, Hosea maintains that his family is his priority. He enjoys quality time with them, often taking road trips together to marvel at Kenya’s scenery. Hosea also plays golf and participates in community activities as a way to give back.
“I thank God for the victories he has granted me this far, I have no regrets but a lot of gratitude. I am happy to have mentored solid leaders who are now thriving in key leadership positions. Some of them hold executive positions in various industries. In the words of John Quincy Adams, ‘If your actions inspire others to dream more, learn more, do more and become more, you are a leader’. For me, there is no greater reward than knowing I played a part in inspiring others to reach their potential and make a difference. As a leader, my goal has always been to inspire and empower those around me and seeing them succeed is the true measure of leadership,” he says.
