Underwriting Manager - Agency, Bancassurance and Direct at Liberty Life

Job Summary

The role holder will be responsible for the management of all underwriting activities in accordance with the company’s underwriting and reinsurance policies and standards to meet customers’ expectations.

Key Responsibilities

• Participate in the development and implementation of strategies for the management of all relevant areas of underwriting to ensure adherence to the overall business objectives
• Participate in the preparation and maintenance of business underwriting strategy philosophy, policies, and procedures manual for proper guidance on the different processes carried out in the department
• Undertake quality assurance, performance, controls, review risk assessment, and other work performance both within the department and branch network
• Foster and maintain good corporate image through liaison with competitors, intermediaries, industry bodies, and the general public
• Manage relationships with clients, intermediaries, and service providers to ensure agreed service level agreements are achieved and goodwill with all stakeholders is maintained
• Ensure that staff are well supervised, trained, and developed to be technically competent to perform their duties
• Manage the underwriting function for effective solicitation, selection, pricing, and retention of desirable business
• In liason with head of Underwriting, set and constantly evaluate underwriting standards in line with changes within the internal and external environment
• Ensure that risk surveys are carried out on selected risks and a mechanism is in place to follow up on risk improvement recommendations implementation.
• Guide the sales team to issue competitive quotations and in good time considering all relevant factors.
• Acceptance of new business and review of existing business either proactively or where requested
• Review accounts two months prior to renewal and take appropriate actions to ensure profitability
• Communicate promptly to staff any information as regard changes in underwriting guidelines
• In liaison with IT Department, pursue automation of operational process to achieve efficient service to customers
• Ensure that treaty reinsurance requirements are followed strictly
• Ensure proper utilisation of reinsurance treaties.
• Contribute to the development and implementation of operational policies for the achievement of the business strategy
• Support the activities of various insurance bodies geared towards maintaining good underwriting standards in the Kenyan market
• Ensure adherence to internal credit control policy.
• Credit control – Ensure that documents are processed promptly and debits/credits raised in the correct month to facilitate collection
• Ensure all statutory and regulatory requirements are met in a timely manner
• Training on underwriting principles and quotations process for the underwriting department staff.
• Inculcate a customer-centric culture in the unit in line with company’s Customer Service Charter in regard to response time, documentation etc.
• Participate in vetting risks to ensure that only quality business is accepted into the company at acceptable rates to ensure profitability and achievement of the set loss ratio targets
• Ensure all external service providers deliver the required services as per the agreed contract and SLAs
• Report to management relating to underwriting budget, expenses and key performance indicators
• Prepare timely reports for presentation to management for proper decision making.

Qualifications

• Bachelor’s Degree in Insurance, Economics or Related Discipline
• Diploma in Insurance (ACII or AIIK)
• Member of CII or IIK
• 10 years’ experience in the insurance industry, 3 of which should be at a supervisory level

Experience

• 4 years’ experience in business planning and strategic analysis implementation and review

Competencies

• In-depth knowledge of insurance operations, concepts, regulatory requirements, underwriting and claims procedures.
• Expertise in commercial and financial management.
• Results-oriented and able to meet customer expectations.
• Excellent organizational, analytical, business and stakeholder management skills.
• Strategic thinking and innovation
• Leadership and people management.
• Communication, adaptability, and accountability.
• Entrepreneurial and commercial acumen.