BanBancassurance Underwriter – EBIL at Equity Bank Kenya

Job Purpose:

The Bancassurance Underwriter serves as a specialized risk analyst embedded within EBKL’s Credit Department and Bancassurance head office operations. This hybrid role bridges the bank and insurance perspectives evaluating credit risk and non-credit risk on insurance linked proposals, advising on optimal underwriting terms across general, life, and health insurance, enabling effective risk decision making for EBIL management, and facilitating cross-sell opportunities between banking and insurance products.

Key Responsibilities 

Credit & Insurance Risk Analysis

• Conduct robust credit assessments for insurance-related proposals in alignment with bank credit underwriting standards
• Evaluate insurance-specific risk factors (medical, morbidity, mortality, health, pre-existing conditions) for general, life, and health products.
• Utilize both credit and insurance underwriting frameworks to determine risk acceptability and propose mitigation strategies.

Underwriting Strategy & Terms Advisory

• Advise on underwriting terms, including coverage limits, pricing, exclusions, and conditional acceptance tailored for EBIL’s bancassurance lines
• Collaborate with EBKL’s credit committee and EBIL management to align insurance terms with joint risk appetite and bancassurance target portfolio.

Reporting & Decision Support

• Prepare and present regular, management-ready reports summarizing risk assessments, underwriting decisions, emerging trends, and recommendations for EBIL’s executive team.
• Highlight cross-selling opportunities, emerging risk concerns, and portfolio performance metrics relevant to bancassurance.

Cross-Selling Enablement

• Identify and recommend insurance products suitable for banking clients based on credit data and client profiles to drive cross-sales.
• Train and support bank staff and EBIL sales agents on underwriting considerations, policy features, and how to present them within banking interactions.

Interdepartmental Collaboration

• Act as a liaison between EBIL, EBKL’s credit, risk, compliance, and operations teams, ensuring aligned decision-making and smooth workflows.
• Ensure KYC, AML, regulatory, and internal policy standards are upheld across both credit and insurance functions. 

Qualifications

Qualifications, Experience

• Bachelor’s degree in finance, business, insurance, actuarial science, economics, or a related field.
• Professional certifications AIIK, ACII , insurance underwriting, credit risk, actuarial, or risk management) preferred. 

Key Competencies & Skills

• Excellent analytical, numeracy, and risk assessment skills; ability to interpret financial statements and medical/underwriting data.
• Strong communication and reporting abilities to convey complex findings clearly to non-specialist stakeholders.
• Sound judgement, attention to detail, and confident decision-making under tight deadlines.
• Relationship-building and negotiation skills to interface effectively with credit risk, sales, and insurance colleagues.
• Proficient in risk modeling tools, underwriting systems, and standard office software (e.g., Excel, SPSS, databases).
• Familiarity with bank and insurance regulations, KYC/AML, internal credit/underwriting procedures, and compliance.