Vacancies at Liberty Life

Job Summary

The purpose of the position is to undertake retail and corporate claims processing to ensure timely settlement of claims within the stipulated Liberty Life guidelines on claims management.

Key Responsibilities

• Process claims accurately and in a timely fashion as per the provided guidelines to ensure the achievement of the set customer service standards
• Analyze the documentation submitted by clients to ensure the information supplied is credible in line with the Liberty Life guidelines on claims processing
• Register all new claims promptly and acknowledging receipt of the same
• Assemble and analyze claims to establish liability
• Advise claimants regarding basic matters about their insurance coverage in relation to the insurance claim
• Respond to both internal and external claims inquiries concerning claims process, service providers, and the filing/completion of proper forms
• Record all claims transactions
• Prepare claims registers for claims meetings and update the various claims reports
• Keep claims records as per the Liberty Life guidelines on record management to ensure ease in accessibility of information and data integrity
• Maintain the claims register to ensure accuracy in data
• Prepare quality reports in a timely manner to ensure timely submission for review
• Create & reconcile claims reserves, and make reinsurance recoveries upon settlement – group life
• Reconcile claim reserves and paid claims – retail
• Manage the maturity and surrender suspense including premium refunds
• Process/disburse pension claims and other related payments including withholding taxes, trustees and service providers’ fees

Qualifications

• Bachelor’s degree in insurance or a business-related field
• Professional qualification in Insurance (LOMA, ACII, AIIK)

Experience

• At least 2 years’ experience in claims, underwriting or pension administration role in the life insurance industry

Competencies

• In depth understanding of insurance operations and concepts
• Knowledge of insurance regulatory requirements
• Knowledge of claims procedures
• Effective business management skills
• Demonstrable commercial and financial management experience
• Excellent organizational and stakeholder management skills
• Customer service skills
• Timely processing of claims
• Accuracy of information supplied for claims processing
• Customer feedback on the quality of support provided on claims issues
• Timeliness and quality of reports submitted for review
• Timeliness and accuracy in the maintenance of the claims register
• Business acumen

go to method of application »

Job Summary

The Actuarial Specialist Product Development and Pricing will be responsible for the provision of actuarial support to the life insurance business in product development and pricing as well as participate in overall risk management for the company.

Key Responsibilities

• Work actively with the business and liaise with the Group to price and provide actuarial support for new products
• Development and maintenance of Standard Pricing Basis in liaison with the Group
• Regular reviewing and monitoring of internal experience and trends to ensure company product pricing meets profit targets
• Review current pricing methodologies and bases and, where appropriate, development of new pricing techniques and rating factors in liaison with the Group
• Ensure product pricing is consistent with the set underwriting policy and regulatory guidance
• Work closely with the other departments to proactively identify and implement changes to underwriting risk controls
• Provide analysis to support the renegotiation of existing group contracts
• Assist system vendors in product setup in the actuarial pricing and valuation system
• Review and monitor experience on all products to inform decision making including profit testing of existing products
• Prepare reports on product performance for management decision making

Qualifications

• Bachelor’s degree in actuarial science, statistics, mathematics or any equivalent with a strong emphasis on mathematical proficiency
• Progress in the Institute of Actuaries examinations (At least 5 papers)

Experience

• 3 years minimum in product development or actuarial valuations

Competencies

• Good interpersonal skills
• Statistical techniques
• Proficient knowledge on the insurance industry in Kenya
• Knowledge of statistical packages or programming
• Relevant actuarial guidelines