Principal Duties & Responsibilities
Underwriting Strategy
- Provide support in the design and implementation of the Company’s underwriting strategy
Risk Management
- Ensure implementation of the Company’s risk appetite and pricing strategy to achieve its strategic objectives
Product development
- Participate in defining appropriate pricing for all key products in all channels and risk classes to ensure that the Company meets its stated strategy of underwriting to a profit in all products and across all distribution channels
- Provide support in setting optimal product strategies to maximize cross-selling opportunities
Underwriting Operations
- Support the monitoring of the underwriting portfolio ensuring adherence to agreed target business levels, financial limits, historical claims patterns and underwriting controls
- Provide support in setting the premiums charged for coverage and negotiate with the client or the broker to ensure the best fit for all parties
- Provide support in establishing and communicating underwriting profit goals and other measurements including loss ratio, new business development, policy count, account retention, etc.
- Oversee the use of analytics and technology to deliver better underwriting outcomes.
- Monitor and assess the effectiveness of underwriting guidelines, underwriting pricing tools, and pricing strategies and make recommendations for enhancements.
Education and Experience
- Bachelor’s Degree in Insurance, Accounting or any related discipline.
- Professional certification such as CIIN or relevant qualification
- Minimum of 3-5 years’ relevant experience in insurance industry
- Relevant experience in life underwriting
Competencies and Skills Requirements
- Good understanding of trends and recent developments in insurance industry.
- Extensive knowledge of MS Office tools.
- Excellent problem-solving skills
- Good strategic orientation, creativity and innovation.
- Good stakeholder management skills
- Demonstrated commitment to ethical standards and high level of integrity.
- Very good knowledge of company’s insurance policies
- Good risk management skills
- Strong understanding of insurance principles and practices
- Strong understanding of legal obligations and regulatory compliance
- Excellent mathematical and statistical skills
- Excellent collaboration skills
- Strong knowledge of claims management
- Strong knowledge of loss adjustment
JOB IS EXPIRED.