As seen in the Jamaica Observer

For Chaluk Richards, insurance is more than deliberating policies and premiums. 

The General Manager of GraceKennedy General Insurance (GKGI) believes that his role is about the people, the employees, and customers. 

Richards, who took the reins in 2019, has been applying his collaborative leadership style to yield innovative solutions for customers and build upon the 40-year legacy of one of Jamaica’s top general insurance companies. 

Armed with a Bachelor of Business Administration in Human Resource Management from the University of Technology and a Master of Science in Administration from California State University, he believes his purpose is to harness the strength of his team so they may pursue and attain the vision created. 

“When you value the people you work with and focus on unlocking the creativity and collective efforts of the entire team, then your chances of success increase exponentially,” Richards said. 

Under Richards’ leadership, GKGI launched innovative solutions that reflect its motto, ‘Because we care.’ The Weather Protect initiative launched during the pandemic supported farmers facing adverse weather conditions, while the introduction of cyber-insurance helped businesses navigate rising cyber threats. Most recently, GKGI became one of the first insurers to roll out a product for electric vehicles (EV), showcasing its commitment to modern, customer-focused solutions.

The Road to GraceKennedy General Insurance

While Richards’ professional milestones are impressive, his journey into insurance began unexpectedly after he applied for a vacant post at the then Jamaica International Insurance Company (JIIC) in 2003. 

“I had never heard of this company,” he recalled. “But it was GraceKennedy and seeing that I was a GraceKennedy Carlton Alexander Scholar, I decided to apply. They later invited me to interview, and that interview led to three consecutive interviews, culminating in a job offer that same day.” 

“I found the work in insurance intellectually stimulating from day one and this continues to this day,” Richards stated. “There are new challenges every season and year and no two days are the same. It is a relationship business and therefore a people business.”

Keeping people at the centre of every decision, Richards credits his leadership philosophy to the values implanted in him by his family matriarchs during his formative years in Mavis Bank, St. Andrew, and later Nannyville Gardens. 

“My grandmother instilled some very critical core values in me such as honesty, hard work, ambition, and the importance of being kind and treating people with respect,” he shared fondly. “My mother was a hard worker as well, with a can-do spirit.”

Ultimately, Richards is driven by a desire to create impact and make his late mother proud. “I want to be known for making a difference, for being a person of integrity,” he said. 

His advice to those aspiring to excel? Focus on creating value. “At the end of each week, ask yourself: How did I create value this week? Always keep your QOs near and review them monthly to ensure that you are working on the things that you had established as most important at the start of the year.

The self-professed transformational leader has a vision to make GKGI the best general insurer in the market by increasing customer affinity and ultimately driving innovation and profitability. 

He foresees a rapid change in the general insurance space within the next couple of years to allow the industry to catch up with the digital transformation that has been ongoing in other aspects of the financial sector. 

“[This is especially evident] when you look at the potential of generative AI and other new technology developments,” he posited. 

Despite his ambitions and professional commitments, Richards remains family focused. He shared that spending time with his wife and children keeps him grounded, especially on tough days. To him, they are his relief space and primary support. 

“I respect those who seek and achieve work-life balance and believe that pursuing balance is an ongoing journey for me. Sometimes you get it right and sometimes you don’t. I have found it beneficial to schedule life events in the same way you schedule things for work. For example, date Night is in the diary for Saturday at 6 pm. Then simply respect your diary,” Richards shared.

His daily routine of prayer, devotion, and exercise also helps him maintain physical and spiritual wellness. Outside of work, he seeks new experiences and adventures, believing in living life fully, not just existing.