PACIS Insurance Company Limited is a financial institution regulated by IRA which has been in operations for over 15 years in the Kenyan market. The company is an initiative of the Catholic Church which offers a wide range of insurance products within the General and Medical Insurance classes. To meet its growing customer needs and expectations, the company wishes to recruit experienced, dynamic, and innovative Underwriting Manager – General Insurance.
PURPOSE OF THE JOB:
The job holder is responsible for delivering growth and underwriting profitability through proper selection and adequate pricing of risks. They will also ensure that the underwriting operations are in strict adherence to the company’s customer service charter.
- Prepare Departmental strategic objectives and initiatives and implementation plan within the department in line with corporate goals.
- Supervise the Underwriting team with a view to ensuring achievement of departmental objectives and eventually Company objectives in line with the strategic plan.
- Establish an efficient renewal process to achieve the set turnaround time for issuance of renewal notices and deliver the desired retention and directly negotiate major corporate renewals to ensure business retention.
- Provide leadership to the underwriting team through training and staff motivation to achieve the underwriting objectives.
- Provide technical expertise on rates review depending on specific class loss ratio to improve performance and manage loss ratio.
- Prepare departmental budget and ensure adherence and minimization of expenditure to manage costs.
- Developing the relationship with existing clients, intermediaries and financial institutions to ensure continued business growth.
- Collect relevant information and feedback from the market to be incorporated in innovation of new products to meet the changing clients’ needs and wide range of products.
- Prepare, circulate and regularly update underwriting guidelines to be followed every year.
- Review the risks accepted in the company to ensure that they are within the set underwriting guidelines and are covered under the reinsurance programmed.
- Establish a proper documentation of risks and timely issuance of certificates, debits, policy documents and endorsements.
- Provide guidance to underwriting staff and branch underwriters on various enquiries for risk acceptance.
- Establish Risk surveys and ensure are conducted for major risks and the implementation of improvement/ recommendations provided to minimize risk exposure.
- Setting up authority levels in the department and ensuring adherence to set levels.
- Facilitate continuous audit of all systems and procedures are carried out and data audit for integrity and correctness at all times
Reports and Compliance
- Monitor compliance with the regulatory requirements and all regulatory bodies is IRA, AKI.
- Annual review of documentation to ensure they meet the standard of business lines in line with policy terms and conditions.
- Participate in management meeting, projects and committees as assigned and prepare underwriting reports to support management decision.
Staff Management and Performance Management
- Conduct as per company guideline performance management process from setting key performance indicators with staff in the department, review of performance, continuous coaching and mentoring in the department.
- Any other duty assigned from time to time.
KNOWLEDGE AND EXPERIENCE
Minimum Academic Qualifications
- A Bachelor’s degree in Commerce/Business/Economics from a recognized University.
- Diploma in Insurance (ACII / AIIK)
- Member of relevant professional body
- Seven (7) years relevant working experience, three (3) of which should have been at manager level and above in a similar role.
- Understanding of insurance industry
SKILLS AND COMPETENCIES
- Strategic thinking
- Motivational skills
- Decision making
- Persuasion & negotiation skills
- Innovation skills
- Results oriented
- Emotional intelligence
- Analytical thinking
- People development
- Entrepreneurship mind
Applications with a detailed CV, indicating your telephone contacts with names and addresses of three referees should be emailed to firstname.lastname@example.org not later than 23rd September 2022.