Underwriter – Specialty Business at Old Mutual Kenya

Job Description

• Contribute to the sustainable growth of the Specialty portfolio through business retention, cross-selling opportunities and proactive engagement with intermediaries.
• Perform all back-office underwriting tasks in line with company policies and regulatory requirements for the specialty line of business.
• Evaluate and assess risks to ensure accurate underwriting and pricing decisions that align with the company’s risk appetite and profitability goals.

KEY TASKS AND RESPONSIBILITIES

Underwriting and Risk Assessment

• Underwriting specialized risks across various insurance classes including financial lines, bonds, trade credit, kidnap and ransom while ensuring alignment with company risk appetite and underwriting guidelines.
• Structuring competitive and customized insurance solutions that meet client needs while maintaining company’s risk controls.
• Ensuring strict adherence to underwriting and compliance frameworks during onboarding, renewals, and throughout the policy lifecycle.
• Ensuring all risks are properly placed with the approved reinsurance panel as per the company appetite.

Portfolio Management

• Analyzing the performance of specialty insurance portfolio and implementing strategies to improve profitability, risk management and growth.
• Monitoring industry trends, regulatory developments and emerging risks to support proactive and informed underwriting decisions and maintain product relevance.
• Collaborating with intermediaries and reinsurers to develop and implement new insurance products aligned with market needs.

Reinsurance Coordination

• Coordinate with reinsurers and other cedants to obtain facultative reinsurance support for risks that exceed treaty retention limits or fall outside the scope of treaty coverage.
• Working closely with reinsurers to assess and manage new or emerging risks.

Client and Intermediary Engagement

• Preparing quotations in line with company service standards and authority matrix and following through to conclusion.
• Providing daily support and servicing to clients, intermediaries to strengthen business relationships and enhance client experience.
• Initiate and follow up with the Insurance Regulatory Authority for approvals where necessary.
• Sourcing for business and training stakeholders to ensure the production targets are met
• Collaborating with clients and stakeholders to ensure all bonds are timeously cancelled.

Documentation and Reporting

• Ensuring timely issuance and capturing all documentation relating to specialty classes including premium obligations to all parties.
• Preparing and submitting periodic and monthly reports on specialty lines to management for tracking and strategic decision making.

SKILLS, KNOWLEDGE & COMPETENCIES

• Strategic Thinking: Demonstrates the ability to assess long-term risk trends and align underwriting practices with the company’s strategic goals. Ability to evaluate emerging risks and adjust underwriting strategies accordingly to maintain profitability and competitiveness.
• Communication and Interpersonal Skills: Strong written and verbal communication for internal coordination and external client interaction.
• Problem-Solving: Strong analytical and problem-solving skills to quickly identify issues and develop effective solutions.
• Organization and Time Management: Ability to manage multiple underwriting submissions and projects within strict timelines. Prioritizes tasks to ensure timely delivery while maintaining accuracy and compliance.
• Adaptability and Resilience:
  Thrives in a dynamic and fast-paced environment, adapting quickly to changing market conditions, client needs, and internal priorities. Maintains composure under pressure and demonstrates resilience when handling high-stakes or urgent cases.
• Technical Proficiency Strong understanding of underwriting principles and insurance products
• Decision Making: Ability to make sound underwriting decisions based on available information.

QUALIFICATIONS, KNOWLEDGE & EXPERIENCE

Qualifications:

• 1st Degree
• AIIK or ACII or an equivalent qualification
• Relevant additional certifications in insurance or reinsurance management and operations are preferred

Experience:

• 3 years’ experience in underwriting specialized classes
• In-depth knowledge of specialty business operations, regulatory requirements, industry developments and business networking