Premium Administration Manager at Madison Asset Management Services Limited (Madison Asset)

Duties and Responsibilities

The Premium Administration Manager will be responsible for implementing sound Premium Administration strategies, maintaining working relationships with all Madison pay-points for continued business development, ensuring effective premium management for clean data, and increased efficiency in Life operations. The Manager will also be responsible for the following key functions:

• Identify manual premium admin processes and reports and ensure automation for increased efficiency.
• Provide automated accurate departmental reports through the utilization of the BI tool and LMS.
• Coordinate onboarding calls for new clients, provide monthly feedback reports, and resolution of issues within the set timelines.
• Develop mechanisms to resolve un-receipted bank credits, outstanding un-allocated premiums, and suspense issues across all-check-offs.
• Uphold data integrity by ensuring accurate premium position, accurate policy statuses, and proper capture of new business at the branch level as well as coordination of branch training on premium administration processes and procedures.
• Provide market intelligence, peer performance, and insights geared towards check-off markets growth.
• Management of debtors by continuous follow-ups, constantly reviewing and instituting remedial action on unpaid premiums and erroneous remittances.
• Monitor persistency parameters and institute measures to increase business retention.
• Ensure accurate communication to customers and timely feedback to branches in relation to launched businesses, recalls, receipting, and accurate allocation for timely new businesses conversion.
• Ensure timely premium amendments/premium stoppage on policy exits within the set guidelines and proactively institute refunds.
• Mentored and develop the Premium administration team in order to meet the departmental objectives for effective performance management.
• Proactively manage departmental costs by operating within a set budget.

Qualifications, Experience, and Personal Attributes

• Qualified candidates are required to possess the following qualifications, experience, and personal attributes:
• Degree in business, economics, marketing, or related course.
• Master in Business Administration preferred
• Professional qualification in Insurance (ACII, AIIK)
• At least three years managerial experience in premium Administration
• High-level communication skills
• Development and implementation of business strategy
• Self-driven and motivational business leader