Assist in underwriting and risk assessment within the set standards of service to ensure quality and timely service.
Responsibilities
General Insurance Business
- Review all applications for insurance – determine the profiles of risks presented to the company for insurance and assess their acceptability or otherwise;
- Prepare quotations as per authority matrix;
- Custodian of underwriting documents e.g. Motor certificates;
- Conduct Risk surveys for small risks as per authority matrix;
- Prepare & issue certificates and cover notes where necessary;
- Ensure timely preparation and dispatch of policy documents including valuation reports, debit, credit notes & endorsements and authorising them within agreed and set authority limits;
- Implement credit control policy and ensure that premiums are debited and collected as required;
- Ensure receipting of premium collections, daily banking as well as preparation of premium reports for all lines of business as applicable
- Assess the loss ratios and ensure that only quality business is invited for renewal;
- Review and communicate renewal terms, ensure renewal notices go out on time and follow up renewals to ensure high retention rate;
Life Insurance Business
- Conduct 1st level underwriting of new business /by carrying out completeness and accuracy checks to ensure data was captured accurately in the application and systems;
- Scanning and indexing of application forms;
- Receipting (cheques/standing orders/check offs) and posting payments in Igas;
- Preparing daily Igas premium report;
- Advise Policy Administration on dishonoured cheques and write letters to customers regarding the same;
- Processing refunds/cancelled policies/deductions after maturity, claims and surrenders;
- Forward issued applications to registry;
- For Legacy GI branches, hold brief in the event the customer service assistant is absent by performing that role tasks.
- Perform any other duties as may be assigned from time to time
Qualifications
Technical/ Functional competencies
- Knowledge of insurance concepts
- Knowledge of underwriting processes and procedures
- Technical competence in underwriting insurance risks
- Knowledge of insurance regulatory requirements
Knowledge, experience and qualifications required
- Bachelor’s degree (insurance option preferred)
- At least one year experience in the insurance industry
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