Underwriting Manager – Life Division

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Company Details
Industry: Banking
Description: Madison Group Limited is a locally owned financial services holding company that specializes in Insurance and wealth management services. The Group comprises of Madison Life Assurance Kenya Limited, Madison General Insurance Kenya Limited, and Madison Investment Managers Limited. Madison Life Assurance Kenya was originally incorporated under Kenyan Laws in 1988 as Madison Insurance Company Limited (MICK) after a successful merger between Crusader Plc (1974) and Kenya Commercial Insurance Corporation. The Company has grown exponentially from combined Gross written premiums of KES 100m in 1988 to combined Gross written premiums of KES 6.2 Billion as at Dec 2017.
Job Description

Key Responsibilities:

 

Offering guidance to the Life Business prior to placement of new and renewal businesses for strategic pricing.

 

Preparing, implementing Underwriting guidelines and Underwriting Policy review as per company policy.

 

Ensuring 100% automation of all underwriting processes, reports, and maximize the use of the BI tool for reporting.

 

Ensuring Reassurance Treaty programs for Life Business are in place and updated regularly in line with business trends and regulations.

 

Ensuring quotations, policy issuance/amendments, renewals are done within the set customer service benchmarks.

 

Ensuring timely conversion of new business and institute measures for timely policy document delivery.

 

Guiding, motivating and training staff on operational processes within the department and at branch level for operational efficiency.

 

Continuous monitoring and evaluating the performance of each staff as per their KPI and identifying and recommending training needs of each staff.

 

Preparing weekly/monthly operational management report for Life Business.

 

Keeping up with the New Business rules and procedures from regulators affecting Life Business.

 

Ensuring Annual returns to IRA are prepared within the stipulated period.

 

Ensuring enquiries and correspondences from clients, branches and regulators are acted upon within the set customer service benchmarks.

 

In Liaison with the Managing Director’s office provide underwriting decisions and pricing as per authorized financial limits.

 

Proactively manage departmental costs by operating within set budget.

 

Academic and Professional Qualifications required

 

Bachelor’s degree in Insurance or any other business-related field.

 

Minimum of 8 years of experience in Life Underwriting, with at least 3 years in a mid-level management role or above.

 

Extensive Hands on experience in reinsurance and insurance operations.

 

Strong understanding of the industry’s regulatory framework.

 

Professional qualification in IIK, CII or CIM.

 

 

 

Education: Degree, Diploma
Employment Type: Full Time
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