Claims and Underwriting Manager - Bancassurance at Absa Bank Limited

Job Summary

• This role requires a combination of technical expertise, leadership skills, and a deep understanding of insurance policies, risk assessment, and claims management processes. 

Main Duties:

• Oversee and manage both claims and underwriting functions.
• Review and improve claims and underwriting processes.
• Prepare and present reports on claims and underwriting activities to senior management.
• Provide expertise and support to clients and internal teams.
• Deliver efficient customer service.

Job Description

Key Accountabilities/Deliverables/Outcomes and approximate time split.

Claims Responsibilities: Time split: 50%.

• Oversee the entire claims process, ensuring accurate and timely notification, assessment, investigation, and settlement of claims.
• Review and analyze complex claims.
• Resolve complaints and contentious claims issues, ensuring fair and equitable resolution.
• Cultivate working relationships with relevant external stakeholders.
• Ensure SLAs with service providers are adhered to.
• Innovative

Underwriting responsibilities; Time split: 50%

• Ensure that all ‘bank securities’ are insured.
• Compliance with bank policies and guidelines.
• Review underwriting decisions made by Underwriters, ensuring accuracy and compliance with established guidelines.
• Stay updated on market trends, regulatory changes, and emerging risks to adjust underwriting strategies accordingly.
• Relationship Management to facilitate the smooth flow of underwriting processes and resolve any operational issues that may arise.
• Evaluation of proposals to corporate client base both local and global to ensure correct risk covered and priced accurately
• Negotiation of terms for bank clientele with insurers, which includes embedded and other products.
• Regular reviews of relevant solutions and terms of insurance policies. And collaborate with products teams, business teams, and other stakeholders on positioning and dissemination of the same.

Preferred Qualification 

• Bachelor's degree in BCom, Business Administration, or a related field. Professional certifications in ACII or AIIK are advantageous, or evidence of advanced progress toward certification

Preferred Experience 

• Ten (10) years of experience in insurance claims management and underwriting, preferably in a managerial role.

Knowledge and Skills 

• Strong knowledge of insurance policies, underwriting principles, risk assessment, and claims handling procedures.
• Excellent analytical and problem-solving skills, with the ability to evaluate complex insurance claims and underwriting issues.
• Strong leadership and team management abilities, with experience in mentoring and developing staff.
• Excellent communication and interpersonal skills, with the ability to build and maintain relationships with internal and external stakeholders.
• Sound understanding of regulatory requirements and industry trends in the insurance sector.
• Proficiency in data analysis and preparing reports.
• Agile

Education

• Higher Diplomas: Business, Commerce and Management Studies (Required)