Job Title: Underwriting Manager
Industry: Vehicle Insurance
Salary: 300K – 400K gross per month but negotiable bases on experience and qualifications
Benefits: Medical insurance, Pension and Yearly bonuses
Our client is one of the leading licensed motor vehicle insurance providers in Kenya.
They seek to hire an Underwriting Manager whose job purpose will be taking full Responsibility for underwriting department to ensure compliance with industry best practice and regulations.
This is a new position reporting to the Board of Directors and Managing Director
Key duties and responsibilities
- General supervision of underwriting and customer service staff
- Preparation of regular management reports on production and other relevant reports.
- Ensure that all documentation in the underwriting department i.e policy documents, endorsements, renewal notices etc are correctly issued and dispatched to the intermediaries/insured/policyholders as applicable.
- To oversee the overall administration of timely issuance of policy documents, renewal confirmations and endorsements.
- Facilitate continuous underwriting staff training to create capacity
- Develop an underwriting manual and update it as and when need be.
- Reviewing sales audit reports from Senior Vetting officer and taking remedial actions where necessary.
- Management of motor certificates by ensuring proper records is maintained.
- Recommending to management effective underwriting systems and procedures for proposals and policies, drafting policies and endorsements and renewals.
- Work closely with risk manager to establish procedures for surveys, initiating risk management programmes and compliance with recommendations on risk improvement.
- Ensure that new risks accepted and/or renewed with the company are vetted to meet the basic quality standards.
- Prepare the table of minimum rates as required by the commissioner of insurance and ensure it is lodged with the office Ensure that AKI circulars and communications from the commissioner’s office relating to underwriting functions are well attended to and responded to on time.
- Risk profiling on suspect claims to establish under writing gaps.
- Developing among staff loyalty to the company personal integrity and adequate professional standards and a sense of satisfaction in the performance of their work.
- Ensure that vehicles insured by the company are subjected to the pre insurance valuations and those values /defects and /or any findings are communicated to policyholders /intermediaries on time.
Key Performance Indicators
- Accurate and timely reports.
- Issuing timely instructions to underwriting staff.
- Timely and effective resolutions of issues.
- Clean bill on under writing with both AKI & IRA
- Financial perspective – cost reduction
- Customer service
- Internal processes
- Learning and growth