Claims & Underwriting Officer at Sidian Bank

JOB PURPOSE

The job holder will be responsible for the overall underwriting and claims management by ensuring all underwriting operations and claims management follow the company regulatory requirements.

KEY RESPONSIBILITIES

• Claims Management
• Business Management underwriting
• Customer service
• Internal business process
• Personal Leadership & Development

Claims Management

• Manage all claims from end to end ensuring settlement within the timelines as per SLA.
• Preparation and analysis of claims summary reports on the bancassurance claims history and other statistical reports advised by the principal officer.
• Track loss ratio reports from the insurers for management and mitigation.
• Providing risk management advice – notifying the team on any issues affecting the risk and where improvement is required.
• Updating customers and relationship managers on claim positions and status.
• Develop and maintain all claims checklists/ requirements, communication to all relevant teams through circulars, branch training, e-shots etc
• Ensure all claims are updated in the Insurance processing system (TQ).
• Claims process documentation.
• Signatory of the general insurance claims with the banks interest.

Business Management Underwriting

• Ensure accurate debit notes & credit notes are raised in the bancassurance system.
• Ensure accurate policy endorsements and revisions are raised in the system.
• Ensure Policy contra and cancellation credit notes are raised in the system.
• Ensure Motor certificates, cover notes and policy documents are issued to the clients.
• Advise Branches and clients on Insurance rates and terms.
• Ensure Policy reinstatements revisions and endorsements are done and communicated to the underwriters.
• Grow the Gross Written premium of the agency by onboarding new clients and ensuring retention of the existing.
• General business rates and terms negotiation to ensure or customers get value out of quotes issued and covers placed.
• Enhance and maintain a good business relation between the intermediary and the insurance companies.
• Support branches and business units on debt collection, policy renewals and policy cover issue.
• File ALL insurance pledge forms and ensure renewal with the intermediary

Customer Service

• Be able to explain and interpret insurance policies to customers, staff and the bank(internal customers).
• Managing client and service providers’ relationships – resolve clients’(internal & external) issues.
• Supervise customer service and relations functions and manage the complains and compliments register through the support of the clients services officer.

Internal business processes

• Train bank staff on claims processes and management.
• Review claims procedures in line with the industry practice.
• Review of the policies issued and the policy documents to ensure sufficient scope.
• Ensure compliance with both external and internal regulatory requirements.
• Advise management on risk improvement measures.
• Advise underwriting team on gaps which might prejudice claims.
• Detect fraudulent claims.

Personal Leadership & Development:

• Manage self by showing drive and motivation, an ability to self-reflect and a commitment to learning.
• Communicate effectively communicate clearly, actively listen to others, and respond with understanding and respect.
• Commit to Customer Service: provide, customer-focused services in line with banking sector and organizational objectives – adherence to the bank customer service charter and ensure personal accountability so as to meet the laid down Service Level Agreements (SLA) and work within stipulated Turn Around Time (TAT).
• Work Collaboratively Collaborate with others and value their contribution.
• Deliver Results Achieve results through the efficient use of resources and a commitment to quality outcomes.
• Think and solve problems, analyze and consider the broader context to develop practical.
• Keeping abreast with staff communications, attending staff meetings – morning huddles and weekly progress meetings.
• Responsible for own career within the bank and preparing an annual Personal Development Plan (PDP) and ensuring its actualization.
• Adherence to the banks policies and procedures, dress code, code of conduct, HR policies and procedures and follows laid down grievance and disciplinary procedure to ensure a conducive work environment.
• Closure of identified deficiencies from concluded audits, correction within stipulated timelines, and ensure no repeat findings.
• Live the brand values as a Sidian Bank brand ambassador and always project the right image of the bank to both staff and customers.

DECISION MAKING AUTHORITY

This section records how decisions are made and the accountability for making decisions. Give examples of typical decisions that would be made, including:

• Correspondence with regulators to ensure compliance.
• System enhancement on the claims & underwriting section.
• Advisory on the insurance company panel to the bank clients.

ACADEMIC BACKGROUND

• Bachelor’s Degree (Preference given to Actuarial, Insurance, Statistics or a Business-Related Course)

WORK EXPERIENCE

• At least 2 years’ experience in Insurance Claims Administration.

SKILLS & COMPETENCIES

• Results oriented and self-driven with a proven performance track record
• Comprehensive knowledge of General insurance products
• Good planning, organization, and reporting skills with the ability to deliver effectively under strict deadlines
• Ability to understand the impact of operational initiatives from a sales/marketing perspective
• Excellent communication, presentation and customer service skills

PROFESSIONAL CERTIFICATION

• COP (Certificate of Proficiency in insurance) or progress in Diploma in Insurance ACII or IIK