Assistant Manager- Policy Administration at CIC Insurance

About the Role

Reporting to the Policy Administration and Servicing Manager, the role holder will be responsible for accurate premium allocation to client policies, effective management of the policy loans and unit-linked portfolios, administration of interest rates for savings-linked products, and conducting comprehensive premium analysis to support financial integrity and client satisfaction.

Key Responsibilities

• Supervise and train premium administration team to ensure quality output;
• Maintain and engage direct debit (bank) and money partners to ensure smooth resolution of premium administration concerns;
• Supervise timely launch, collection and stoppages for direct debits;
• Supervise allocation and posting of check-off receipts based on submitted by products within SLA timelines;
• Supervise accurate loan posting and process/authorise interest rates for policy loans on endowment products;
• Process investment contributions received for the unit linked product to fund Manager and update unit price in liaison with claims and finance;
• Monitor and track expected versus received premium analysis;
• Train supervise and authorise processed refunds to reduce unknown, unposted and unprocessed suspense amounts;
• Coordinate and supervise quality of responses to customers and intermediary’s enquiries and complaints with regards to premium administration issues;
• Supervise and train on m-pesa matching to policies;
• Conduct premium reconciliation on policies due for lapse and/or maturity;
• Timely matching of m-pesa unmatched premiums across all individual life paybills;
• Intitiate M-pesa Reversals for wrongly received premiums on Paybill platform.
• Provide Regular reports and insights to management on Premium analysis, Suspense performance, Direct Debit Performance, Loan analysis, m-pesa performance and Unit linked performance.

Who We’re Looking For

Essential Knowledge/Skills and Experience Required:

• Bachelor’s degree in the relevant field.
• Technical competence in insurance or finance AKII/ACII/LOMAALMI/CPA/ACAA
• Minimum of four (4) years’ relevant experience.

Desirable knowledge/skills and Experience Required:

• Understanding of the working environment /competitors
• Basic knowledge of regulations: IRA, Consumer Protection, UFAA, AML-CFT

Key Competencies

• Excellent communication and presentation skills
• Problem solving skills
• Excellent interpersonal skills
• Good negotiation skills
• Good analytical skills