Corporate Underwriter - Health Business at Old Mutual Kenya

Job Description

• Evaluate and manage medical insurance risks in strict compliance with internal policies, regulatory guidelines, and industry best practices.
• Provide technical support aimed at creating and sustaining a profitable and innovative health insurance portfolio via data analytics, streamlining of underwriting processes, and ensuring timely turnaround in underwriting decisions.
• Contribute to the effective oversight and execution of the company’s underwriting operations by ensuring that all activities align with the organization’s strategic objectives.

KEY TASKS AND RESPONSIBILITIES

• Evaluate and assess medical risks for new and renewal business, ensuring sound underwriting decisions that aligns with the company’s underwriting philosophy
• Build and maintain a quality corporate business book through reinforcement and implementation of experience-based underwriting discipline
• Ensure all underwriting practices comply with internal policies, processes and procedures, regulatory standards, and audit requirements, while contributing to the improvement of underwriting controls and processes
• Leverage advanced analytics tools such as machine learning and AI models for predictive modelling to enhance risk assessment, claims forecasting, pricing optimization, and data driven portfolio management decision-making
• Work closely with sales team and retention team to provide technical underwriting support, resolve queries, and ensure alignment with underwriting guidelines
• Support with continuous review of policy documents to ensure exposures are identified and closed timeously
• Participate in the development of new products and the enhancement of existing ones to ensure continued relevance in response to evolving client needs and market dynamics
• Continuously monitor and review the performance of products and schemes, identifying trends, providing insights and recommendations to improve profitability, sustainability, and customer value
• Identifying opportunities to improve efficiency and reduce costs in the department to support organizational goals
• Support in training of staff and contribute to knowledge sharing on health products and underwriting processes
• Ensure compliance to insurance related Statutory and regulatory requirements including Treating Customers Fairly and data Protection Act
• The incumbent will be responsible for ensuring adherence to, implementation of, and adoption of Compliance, Anti-Money Laundering (AML), and Sanctions-related policies, procedures, and process requirements within Old Mutual and it subsidiaries. This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality.
• Additionally, the role involves identifying and monitoring potential AML, Sanctions, or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.

SKILLS AND COMPETENCIES

• Sound Technical Underwriting skills
• Strong analytical skills
• Creative thinking
• Solution oriented
• Intensive and extensive corporate health products knowledge
• Decision - making skills
• Detail oriented with strong problem- solving skills
• Accountability and self-organization skills
• Customer service skills
• Ability to work with cross functional teams
• Ability to meet strict deadlines

QUALIFICATIONS

• University degree in Actuarial Science, Mathematics, Statistics or a business-related degree
• Relevant professional insurance qualification – DipCII/ACII/FCII or significant progress sin attaining an Actuarial science qualification
• Strong skills with Microsoft Office Package
• 5 years in medical insurance underwriting, product and research functions