Reinsurance Officer at Kenyan Alliance Insurance

Job Summary

• Reporting to Head of Operations, the job holder will develop and manage a strategy and operating model for the Reinsurance Unit that supports the growth and development of the business across all lines through optimizing the reinsurance scope and spend by negotiating cost effective, appropriately structured reinsurance programmes with reinsurers

Main Responsibilities

• Develop, plan for, implement in consultation with Management and take accountability for the strategy and operating model of the Reinsurance Unit, partnering with the heads of underwriting in response to the business model and Organizational underwriting philosophy.
• Determine the business value chain for the Reinsurance Unit and ensure that this value chain is aligned and integrated with the Underwriting Departments value chain.
• Develop, implement, negotiate and manage in consultation with Management a leading reinsurance structuring framework that optimises internal value
• Develop, implement and manage in consultation with Management an optimum reinsurance framework for pipeline, new and existing products and standalone facilities.
• Develop, implement and manage in consultation with Management a leading framework that optimises facultative and outside treaty reinsurance placements
• Communicate with underwriting departments regarding any changes or proposed changes to the reinsurance wordings to ensure no gaps in cover and challenge reinsurers on unacceptable restrictions
• Manage the premium, policy and claims administration in the reinsurance processes
• Actively manage and reduce reinsurance risk, overexposures, counterparty risk, and gaps in cover
• Prepare reinsurance underwriting and claims statistics for reinsurance renewals and review of profitability of the reinsurance program;
• Grow inward facultative business and collect premiums, through acquisition of new and retention of existing business;
• Prepare and file quarterly reinsurance returns
• Collect all outstanding debt on premiums and claims recoveries
• Identification and follow up on excess of loss claims recovery from the treaty reinsurers.
• Make provisional loss notification to reinsurers,
• Make cash calls for large claims from reinsurers.
• Facultative reinsurance placement of risks exceeding the treaty capacity.
• Quarterly reconciliation and summarizing of treaty accounts in liaison with Finance department.
• Processing of treaty renewal data and sharing it with the reinsurers.
• Analyse treaty wordings & cover notes, identify amendments and communicate to users.
• Reconciliation and calling for payments of facultative accounts and calling for reinsurance treaty recoveries.

Knowledge & Experience
The candidate must demonstrate and possess the following skills and qualifications:

• Minimum Bachelor’s Degree in Commerce, Statistics, Economics or related fields
• Dip ACII/AIIK Diploma
• Minimum of six (6) years’ reinsurance experience
• Experience in Underwriting at Supervisory level will be an added advantage
• Excellent communication and presentation skills
• Problem solving skills
• Excellent interpersonal skills
• Good negotiation skills
• Good analytical skills