Job Summary
The job holder is responsible for delivering growth and underwriting profitability through proper selection and adequate pricing of risks. They will also ensure that the underwriting operations are in strict adherence to the company’s customer service charter. Provide leadership to the underwriting team and to manage underwriting of general business as per the set guidelines and the company strategic plan.
Job Description
STRATEGIC ROLE
Support the head of department in preparation of departmental strategic objectives and initiatives and implementation plan within the department in line with corporate goals.
Establish an efficient renewal process to achieve the set turnaround time for issuance of renewal notices and deliver the desired retention and directly negotiate major corporate renewals to ensure business retention.
Provide technical expertise on rates review depending on specific class loss ratio to improve performance and manage loss ratio.
Participate in preparation of underwriting department budget and assist in its implementation.
Developing the relationship with existing clients, intermediaries and financial institutions to ensure continued business growth.
Collect relevant information and feedback from the market to be incorporated in innovation of new products to meet the changing clients’ needs and wide range of products.
Review nonperforming accounts and advise risk improvement measures in liaison with claims department and Head of Underwriting Officer/Regional Centre of Excellence
Provide leadership to the underwriting team through training and staff motivation to achieve the underwriting objectives.
Supervise the Underwriting team with a view to ensuring achievement of departmental objectives and eventually Company objectives in line with the strategic plan.
OPERATIONAL EXCELLENCE
Preparing and maintaining up to date underwriting manual / underwriting guide and enforce compliance.
Review the risks accepted in the company to ensure that they are within the set underwriting guidelines and are covered under the reinsurance programme.
Establish a proper documentation of risks and timely issuance of certificates, debits, policy documents and endorsements.
Provide guidance to underwriting staff and branch underwriters on various enquiries for risk acceptance.
Setting up authority levels in the department and ensuring adherence to set levels.
Facilitate continuous audit of all systems and procedures are always carried out and data audit for integrity and correctness.
Approve quotations done by underwriters and BD team as per Mandates/guidelines
Approve policies done by underwriting teams as per set mandates · Review and approve Debit and Credit Notes
Approve renewal terms proposed by underwriting teams as per set guidelines
Ensure risk acceptance and liability allocation is in line with reinsurance facilities in place Participate in the arrangement of reinsurance programme to ensure adequate treaty facility Ensure the regulatory reports and requirements on underwriting are met
Constant liaison with the business network and key stakeholders to undertake appropriate measures on complaints and queries assigned on own work stream.
Participate in development of new products ·
Participate in development of reinsurance treaty programme.
REPORTS AND COMPLIANCE
Monitor compliance with the regulatory requirements and all regulatory bodies is IRA, AKI. Annual review of documentation to ensure they meet the standard of business lines in line with policy terms and conditions.
Participate in management meeting, projects and committees as assigned and prepare underwriting reports to support management decision.
STAFF MANAGEMENT AND PERFORMANCE MANAGEMENT
Conduct as per company guideline performance management process from setting key performance indicators with staff in the department, review of performance, continuous coaching and mentoring in the department.
Drive high performance and conduct quarterly performance reviews of the team member’s performance
Participate in hiring required talent to fill in all vacancies in the function
Overall supervision, appraisal, training and development of staff in the underwriting and reinsurance departments.
EDUCATION & EXPERIENCE REQUIRED
Bachelor’s degree in Insurance or related field.
Master’s degree will be an added advantage.
Seven (7) years relevant working experience, three (3) of which should have been at manager level/in a similar role.
MANDATORY PROFESSIONAL QUALIFICATIONS
Diploma in insurance ACII OR AIIK
Member of relevant professional body
Knowledge & Skills
Networking skills
Strong interpersonal and communication skills
Strong leadership skills including mentoring
Legislation and compliance
Strategic planning and management
Strong ability to influence peer group
Risk and fraud management
Human resource management practices
Financial control and management
Strong negotiation skills with partners
Competencies
Formulation strategies and concepts
Deciding and initiating action
Adapting and responding to change
Entrepreneurial and commercial thinking
Relating and networking
Applying expertise and technology
Persuading and influencing
Leading and supervising
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