Job Vacancies at Madison Group Limited

Key Responsibilities

• Collect appropriate and accurate information required to assess potential clients and decide on the acceptable risk for a policy issuance.
• Review policy applications and renewals based on the previous loss experience.
• Evaluate policies with regards to the company’s underwriting standards.
• Make a decision to accept, modify or reject an insurance application after scrutiny of all the required documents and studies regarding the risk involved.
• Handle queries from credit control departments, intermediaries and clients
• Processing new businesses, renewals, endorsements as well as issuance of motor certificates, cover notes and yellow cards.
• Underwriting and processing work allocated from immediate supervisor and ensuring all debits are put through in the correct month to facilitate premium collection.
• Assisting clients in identifying our products that suits their needs in line with insurance principles.
• Prepare and issue cancellation notices in case of non-payment of premium.
• Preparation and issuance of renewal notices sixty dates before renewal date.
• Follow up renewals to ensure retention targets met
• Assist in claims handling requests.
• Preparation and issuing quotations.
• Liaising with intermediaries’ brokers and agents to solve any problems they may have and ensure efficient service delivery.
• Any other duties that may be allocated from time to time

Knowledge, Skills and Competencies Required

• Deep knowledge of underwriting regulations.
• Analytical thinker with research proficiencies.
• Ability to use reasonable and sound judgment.
• Strong problem-solving and decision-making skills.
• Solid organizational skills and detail-oriented.
• Ability to work under pressure and meet strict deadlines.
• Strong interpersonal and negotiation skills.
• Computer literate in MS Office and other office applications
• Ability to build positive relationships and partnerships with clients, brokers and key role-players

Academic/Professional Qualifications and Experience required

• Degree in Actuarial Science or Business-Related field.
• Good progress in professional qualification in insurance (IIK)
• 2 years’ experience in General Insurance Underwriting

go to method of application »

Key Responsibilities

• Servicing (Reconcile, cost and renew) Group Life Schemes.
• Ensuring quotations, policy issuance/amendments, renewals are done within the set customer service benchmarks.
• Approving and ensuring quotations/new business are placed as per guidelines
• Ensuring timely conversion of new business and institute measures for timely policy document delivery.
• Analyze all classes of life risks accepted and ensure proper quarterly cessions.
• Prompt claim recovery from reinsurers.
• Facilitate Facultative reinsurance agreement and placement of risks exceeding the treaty capacity.
• Submission of closing and accounting documents to Finance Department for settlement of premium and recovery of claims from reinsurers.
• Prepare reinsurance underwriting and claims statistics for reinsurance renewals to facilitate negotiation of treaty renewal terms in line with the business needs and regulatory guidelines.
• In liaison with the Underwriting Manager, File treaties and other Reinsurance Arrangements timely with IRA.
• Maintain efficient communication lines between the company and reinsurance partners.
• Setting up and ensuring that reinsurance in Life Management System (LMS) works effectively and accurately.
• Monitoring and maintaining data integrity and accuracy in the system.
• In liaison with the Underwriting Manager, Co-ordinate co-insurance arrangements whenever it arises
• Prepare periodic management reports on Underwriting and Reinsurance/Coinsurance.

Qualifications and Core Competencies

• University Degree in Insurance or any other related field.
• At least 4 years’ relevant work experience.
• Diploma in Insurance (AIIK/ACII)
• Technical knowledge of Insurance/Reinsurance operations and regulations.
• Ability to work well in a team.