Jobs at Madison Group Limited

Key Responsibilities:

• Achieve the renewal budgets for all clients within assigned business portfolio
• To implement retention benchmarks for assigned portfolio within the SLA provisions and guidelines
• Provide a dedicated and comprehensive service to these clients, acting as the primary point of contact on behalf of Madison and deliver the highest level of customer care
• Organize and attend meetings with clients e.g. member educations, health talks, quarterly service review meetings etc.
• Complaints and Query management – Receive and resolve client issues and provide feedback in a timely manner
• Manage claim reimbursements in conjunction with claims department to ensure Reimbursement payments are made to clients in a timely manner
• Support in renewal process and securing of renewals in our portfolio including tender business
• Receive and dispatch client documents and monitor receipt
• Communicate pertinent information to the clients on a regular basis and be the liaison person with clients in all other communication
• Reporting and management of hospitalization/Admissions in liaison with care managers
• Member engagement – Extend courtesy calls to members on various activities, satisfaction surveys, post hospitalizations etc.
• Identify and recommend process improvements to enhance Customer Satisfaction.
• Support on premium and excess collection
• Scheme Performance Management – Sharing with clients the utilization reports, scheme review reports and member statements
• Premium volume increase through organic growth by selling additional benefits and enhancements
• Compile weekly, monthly, quarterly and annual reports as required
• Verification of accurate system capture of medical benefits purchased
• Dispatch/delivery of the policy document to the relevant client within the stipulated TAT’s.
• Dispatch/delivery of premium invoices and the renewal/commencement premium schedules to the client/intermediary.
• Any other duties assigned by management from time to time

Skills and Competencies Required

• Health Benefits Plan Management
• Customer Service
• Policy Processing
• Presentation Skills
• People management skills of both external and internal partners
• Customer Focus
• Good interpersonal and people skills
• Ownership & Commitment
• Team Spirit
• Excellent organization and communication skills
• Market Awareness

Academic and Professional Qualifications required

• Bachelor’s Degree in business related field.
• 3 years’ experience in Relationship Management.
• Good progress in professional qualification in insurance (IIK)

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Key Responsibilities:

Actuarial Valuation and Regulatory Reporting

• Complete the internal implementation of the IFRS 17 standard.
• Lead the timely and accurate monthly valuation of actuarial liabilities.
• Ensure sufficient quality of valuation data used to calculate actuarial liabilities through data checks and clean-up.
• Ensure the methodologies implemented in the valuation are robust and best practice.
• Perform solvency calculations.
• Review the appointed actuary’s results and statutory reports.
• Provide timely and accurate regulatory reporting inputs.
• Present the various actuarial reports to the board.

Experience Analysis

• Perform investigations on mortality, lapse, expense and investment returns.
• Perform analysis of surplus to investigate deviations of the actual experience from the expected experience.
• Incorporate the findings from the experience analysis in updating assumptions on expected experience, and provide advice to relevant stakeholders.

Strategy and Budgeting

• Provide projections for actuarial liabilities, premiums, claims and investment income that are consistent with the experience and business strategy.
• Monitor the actual experience vs the budget to identify the causes of any deviations.
• Advise management on the impact of inputs on the overall strategy.

Product Development and Monitoring

• Engage management on prospective products to develop.
• Conduct pricing of new products ensuring profitability.
• Regularly monitor profitability of existing products based on current experience, and reprice if necessary.
• Assist business development in pricing of group life products to ensure profitability.
• Develop and update comprehensive quotation models for the sales team.
• Engage with the regulator on product approvals.

Balance Sheet Management

• Develop the Asset Liability Matching Policy and regularly monitor the extent to which the company’s assets match its liabilities.
• Conduct solvency projections to advise management on asset portfolio structuring.
• Perform reinsurance analysis to optimize reinsurance arrangements.
• Perform sensitivity, scenario and stress testing on the actuarial liabilities to identify the key assumptions for pricing and key inputs that the business should monitor.

Academic and Professional Qualifications required

• University Degree in Actuarial Science or any other related field.
• A Master’s degree in Actuarial Science or related field will be an added advantage.
• Advanced progression with actuarial exams (minimum of 11).
• At least 10 years’ experience in an Actuarial function with experience in valuations, IFRS 17 and product development.