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Reinsurance Officer
PURPOSE:
To support the business operations through supporting underwriting and claims departments in business. They will be responsible for placement of risks & recoveries from the reinsurers, reinsurance accounting and also handle reinsurance correspondences.
PRIMARY RESPONSIBILITIES:
- Grow inward facultative business and collect premiums, through acquisition of new and retention of existing business;
- Place all risks that are in excess of capacity;
- Any other duty as may be given by the Reinsurance Manager
- Ensure timely treaty and facultative claims recoveries and as per the set timelines and budgets
- Monitor the claims reinsurance register to ensure claims are correctly allocated into the relevant treaties;
- Ensure new claims payments are immediately documented to the reinsurers;
- Follow up with Treaty and Facultative reinsurers on claims recoverable;
- Following up on receipting of all recoveries to the appropriate accounts and maintain up to date records of the same.
- In liaison with the claims department, ensure claims payable to reinsurers (facultative) are registered and documented.
- Managing facultative inward and outward business and preparing reconciliations for all businesses
- Calling for payments of facultative accounts and calling for reinsurance treaty recoveries.
- Seeking of facultative support for risks not covered under the scope of the treaty arrangements;
- Follow up with facultative reinsurers on claims recoverable;
- In liaison with the claims department, ensure claims payable to reinsurers (facultative) are registered and documented.
- Travel insurance management
- Custom Bonds underwriting & Management
- Bankers Blanket Bond underwriting & claims Management
- Reconcile funds received from reinsurers vs cash book;
- In liaison with the finance department, clean up the reinsurance recoveries receipts;
- Track payments received from reinsurers;
Academic and Professional Requirements
Education
- Bachelor’s Degree in a relevant field,
- Computer literate in MS Office and other office applications
- Qualification in relevant professional field – Diploma in Insurance, ACII/AIIK
Experience Required:
- Relevant experience 3
Assistant Reinsurance Manager
PURPOSE:
To achieve reinsurance business growth and development to generate revenues to support the company’s growth, Improve focus and efficiency on reinsurance, facultative and recoveries from various partners for company growth of revenue and attainment of set budgets.
PRIMARY RESPONSIBILITIES:
- Review the risks accepted in the company to ensure that they are within the set reinsurance guidelines and are covered under the reinsurance programme.
- Ensure Risk surveys are conducted for major risks and the implementation of improvement/ recommendations provided to minimize risk exposure.
- Work closely with system developers to enhance efficiency of system in supporting reinsurance operations.
- Supervise Reinsurance Officers & Assistants to ensure proper reinsurance procedures and guidelines are adhered to.
- Develop, issue and approve facultative in acceptances as per various Reinsurance Treaties.
- Ensuring adherence to company reinsurance practices, policy and guideline as per set guidelines
- Responsible for ensuring the reinsurance programmes are arranged within required timelines and is in accordance with the agreed company standards
- Ensuring the monthly budget from new business is achieved by marketing and increasing inward reinsurance business from other companies
- Ensuring reinsurance treaty payments, renewal and making returns to the relevant authorities
- Provision of monthly analysis for the various reinsurance programs and services currently available in the marketplace and administer their use within company
- Timely treaty cessions on the underwriting and claims files when they are due
- Preparing a monthly premium and claims (paid/ outstanding) summaries from reinsurance
- Overseeing reinsurance claims recovery (making provisional loss notification, making cash calls for large claims, and follow up of the payments thereof and recovery of claims on run off)
- Ensure Production of quarterly payment returns and annual statements as per deadlines
- Ensure timely treaty and facultative claims recoveries and as per the set timelines and set budgets.
- Sourcing for Facultative in Business as per the set targets and supporting marketing & Underwriting functions on business growth.
- Managing facultative inward and outward business and preparing reconciliations for all businesses
- Strict adherence to all regulations, statutes, standards, practices and all internal processes and procedures as per the relevant manuals and comply with all relevant external legislation and regulations with regard to Compliance requirements.
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Academic and Professional Requirements
Education
- Bachelor’s degree in a related field.
- Computer literate in MS Office and other office applications
- Qualification in relevant professional field – Diploma in Insurance, ACII/AIIK
Experience Required:
- Minimum of five (5) years’ relevant experience in a similar position, two (2) of which at supervisory level 5
Underwriting Assistant – Thika Branch
PURPOSE:
To assess and prudently underwrite General Business in commercially sound terms and to ensure that all underwriting and documentation duties in the branch operate effectively and efficiently.
PRIMARY RESPONSIBILITIES:
- Asses business risk proposal (Accept/Reject Risk) on the basis of existing underwriting guidelines);
- To process schedules and issue policy document and endorsements;
- To ensure proper and accurate debiting and crediting and ensure proper reinsurance policy is in place;
- Doing quotes for clients;
- Reconciliation of underwriting issues.
- Process renewals notices, follow up on motor vehicles valuations and claims registration at the branch.
- Respond to customer and intermediaries’ enquiries
- Preparation of monthly business reports.
- Supervising, assigning tasks and co-ordinating activities in the section in the absence of the Underwriter.
- Cancellation of policies due to non-payment of premiums.
- Any other duty as may be given by the Branch Manager
Academic and Professional Requirements
Education
- Degree in a business-related field.
- Computer literate in MS Office and other office applications
Experience Required:
- Relevant Experience 2
Method of Application
Use the link(s) below to apply on company website.