Insurance jobs, Financial jobs, Underwriter jobs,
PURPOSE OF THE JOB:
The job holder is responsible for reviewing motor risks and ensuring Pacis underwrites profitable business to turn around this line of business and achieve underwriting profitability. He/she will be responsible for review of motor portfolio and execution of actions to ensure this business is profitable, and ensuring our motor product offering is relevant and competitive in the market.
Key responsibilities
- Review new applications for motor insurance by analyzing valuation and mechanical assessment reports and previous claims experience to properly underwrite new risks.
- Provide Technical Motor Assistance to the Underwriting Team with regards to risk assessment and pricing.
- Provide Technical Reviews to customers and intermediaries as regards to motor quotations and motor queries.
- Market Monitoring based on feedback from Internal/External Sources and executing appropriate actions to stay abreast with market developments.
- Monitor Motor Non-Fleet Renewal List as regards loss ratio above 50% and provide underwriting Reviews based on Customer profile and Customer profile and claims status.
- Monitor Motor Fleet Renewal List as regards to loss ratio above 60% and provide underwriting Reviews based on Claims Status.
- Analyze motor business performance and provide the Underwriting Manager with a monthly status report of turnaround initiatives for Motor business.Coordinate with Sales and Claims departments for actions to improve performance of Motor.
- Monitor and ensure adherence of set KPI to ensure continuity within business relationship.
- Review and update motor product offerings, value-add services, and underwriting guidelines to stay abreast with market needs and remain competitive.
- Automation of motor business processes to enhance efficiency.
- Enforcement of credit control policy under motor business to maintain the debtor days below 60 and taking remedial actions to correct deviations e.g., through cancellations.
- Champion and execute on innovative solutions that will drive profitability in the motor line of business.
- Appoint, monitor, and review motor valuers to maintain high standards of this service.
- Support the execution of critical motor class turn-around initiatives
- He/she will be responsible for reviewing of motor portfolio and execution of actions to ensure this business is profitable
KNOWLEDGE AND EXPERIENCE:
Qualifications:
Minimum Academic and Professional Qualifications
- Business/Mathematics/Insurance related degree
- Diploma in Insurance
- At least 4 years relevant working experience in a motor insurance business
Knowledge
- Understanding of insurance industry
SKILLS AND COMPETENCIES:
- Customer Oriented
- Interpersonal skills
- Team player
- Problem solving
- Creative thinking
- Planning & organizational skills
- Dependability
- Ethical
- Confidence
- Tactical
- Innovation
- Analytical thinking
Assistant Underwriter
To review risks and underwrite profitable business through preparation of policy documents whilst ensuring all business processes are adhered to as per set guidelines to enable the company meets its objectives through the acquisition, retention and service to clients.
Key responsibilities
Underwriting Management
- Ensure proper documentation of risks and timely issuance of certificates, debits, policy documents, endorsements and cover notes.
- Ensure efficient renewal process for assigned clients/intermediaries are achieved as per the set turnaround time for issuance of renewal notices to deliver the desired retention rate.
- Quotations-Issuing and revising of quotes to intermediaries and clients within recommended guidelines follow up to ensure business closure as per stipulated authority limits.
- Follow up on premium collection from clients and ensure debited within the month.
- Ensure debit form filled in case of credit according to the company credit policy
Customer Service Role
- Ensuring clients queries are addressed and correct quotation are provided within the set timelines and authority levels.
- Any other duty assigned from time to time
KNOWLEDGE AND EXPERIENCE:
Qualifications:
Minimum Academic Qualifications
- Degree in Business/Mathematics/ Insurance course
Professional Qualifications
- Diploma in Insurance
Experience:
- One (1) years relevant working experience
Knowledge
- Understanding of insurance industry
SKILLS AND COMPETENCIES:
- Customer Oriented
- Interpersonal skills
- Team player
- Accuracy
- Adaptability
- Commitment & dedication
- Planning & organizational skills
- Ethical
- Confidence
- Reliability
- Keen to details.
Method of Application
Applications with a detailed CV, indicating your telephone contacts with names and addresses of three referees should be emailed to careers@paciskenya.com not later than Monday 1st May 2023.