Our client, The Monarch Insurance Company Limited is a leader in the insurance sector with over 40 years’ experience in insurance service providing tailored products in both general and life insurance. They are looking for a dynamic, innovative and result-orientated individual to fill in the following position
Reporting to the General Manager – General Insurance Business, the Underwriting Manager will be responsible for ensuring that Monarch fulfils its obligations of assuming insurable risks of its customers and evaluating risks being offered to the company for insurance with a view of accepting and accounting for those which meet the criteria and subsequently evidencing the acceptance in the various insurance contracts.
- Analyzing documents for the different classes of insurance to determine the degree of risk considering the underwriting factors for each particular class.
- Determining and declining excessive risks
- Authorizing reinsurance of policy when the risk involved is high
- Recommending on risk minimization measures for risky business e.g. pre-inspection of motor vehicles before commencement of cover
- Ensuring business acquired for the various classes is reinsured as per agreed terms and as per the reinsurance program
- Ensuring all risk assessments and decisions are made on acceptability and costing
- Ensuring business accepted is documented with agreed terms
- Evaluating the possibility of losses due to a catastrophe or excessive insurance
- Decreasing the value of a policy when the risk involved is substandard and specifying applicable endorsements or applying rating to ensure safe profitable distribution of risks
- Reviewing company records to determine amount of insurance in force on single risk or a group of closely related risks
- Ensuring compliance on cash and carry law and making sure the company credit policy is not flouted at head office and at the branches
Key Qualifications and Experience
- Bachelor’s Degree in Commerce or any business-related course
- At least 8 years’ experience in the insurance sector
- AIIK/ACII (Associate of Chartered Insurance Institute of London) qualifications
- Technical competence in underwriting insurance, risks and claims handling
- Ability to analyze and interpret statistics and statistical data
- Knowledge of company products and country laws
- Knowledge of insurance laws and regulations by AKI, IRA RBA, KRA
Interested candidates are requested to forward their updated CVs to firstname.lastname@example.org stating the subject heading “UNDERWRITING MANAGER” by Wednesday, 28th April 2021 clearly indicating their current and expected remuneration (MUST), daytime telephone contacts and addresses of three referees. The position is filled as soon as a suitable candidate is found. Only shortlisted candidates will be contacted.