Job Description
JOB REF TRD/003/2023
Job Purpose
To deliver growth and underwriting profitability through proper selection and adequate pricing of risks. The role also ensures that Certificates, Policy documents, debits and endorsements are issued as per the company’s Customer service charter. To develop and lead the implementation of the Insurance Operations and underwriting strategy in line with the overall company structure.
Job specification
• Prepare, circulate and regularly update underwriting guidelines to be followed every year
• Review the risks accepted in the company to ensure they are within the set underwriting guidelines and are covered under the reinsurance programme.
• iii. Provide guidance to underwriting staff and branch underwriters on various enquiries for risk acceptance.
• iv. Ensure proper documentation of risks and timely issuance of certificates, debits, policy documents and endorsements.
• v. Ensure efficient renewal process to achieve the set turnaround time for issuance of renewal notices and deliver the desired retention. Directly negotiate major corporate renewals.
• Ensure compliance with the regulatory requirements.
• Provide leadership to the underwriting team through training and staff motivation to achieve the underwriting objectives.
• Participate in management meeting, projects and committees as assigned.
• General supervision of underwriting and customer service staff.
• Preparation of regular management reports on production and other relevant reports.
• Ensure that all documentation in the underwriting department i.e., policy documents, endorsements, renewal notices etc. are correctly issued and dispatched to the intermediaries/insured/policyholders as applicable.
• To oversee the overall administration of timely issuance of policy documents, renewal confirmations and endorsements
• Develop an underwriting manual and update it as and when need be.
• Reviewing sales audit reports from Senior Vetting officer and taking remedial actions where necessary.
• Management of motor certificates by ensuring proper records are maintained.
• Recommending to management effective underwriting systems and procedures for proposals and policies, drafting policies and endorsements and renewals.
• Work closely with risk manager to establish procedures for surveys, initiating risk management programmes and compliance with recommendations on risk improvement.
• Ensure that new risks accepted and/or renewed with the company are vetted to meet the basic quality standards.
• Prepare the table of minimum rates as required by the commissioner of insurance and ensure it is lodged with the office Ensure that AKI circulars and communications from the commissioner’s office relating to underwriting functions are well attended to and responded to on time.
• Risk profiling on suspect claims to establish underwriting gaps.
Person Specifications, Skills & Competencies
For appointment to this position, a candidate must have:
• Bachelor’s degree in any discipline preferably in finance, accounting, actuarial science, insurance
• Master’s degree in business management (as an added advantage).
• Professional qualification in insurance field; AIIK, ACII or Diploma - IIK,
• Professional qualifications in CPA, CFA, ACCA or ACA will be an added advantage
• At least five (5) years as an underwriter in a busy working environment or related field
• Attentive to details with Good analytical skills
• Excellent communication, problem-solving and customer care skills.