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Underwriting & Operations Trainee at Sidian Bank. Nairobi

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Job Description

JOB PURPOSE

Management of branches assigned to for:

  • Business retention and policy renewal management
  • Client’s insurance policies application and advising on the risk rates and acceptable terms,
  • Debiting of policies in the Bancassurance system and policy declarations.
  • Claims Analysis

KEY RESPONSIBILTIES

  • General Business Underwriting & Operations Key – 40%
  • Business Management, Underwriting and Operations (9 Branches) – 30%
  • Customer Experience Management – 10%
  • Risk and Compliance – 5%

MAIN ACTIVITIES

General Business Underwriting & Operations Key – 40%

  • General business rates and terms negotiation to ensure all customers get value out of quotes issued and covers placed.
  • Ensure SLAS define all TATs around the underwriting and operations processes
  • Enhance and maintain a good business relation between the intermediary and the insurance companies.
  • Ensure renewal notices are sent out to assigned intermediaries’ customers at least a month prior to policy expiry
  • Track the renewal ratio for the assigned branches in the intermediary and advise the bank on the strategies to grow and maintain the overall ratio at 80%
  • File ALL insurance pledge forms and ensure renewal with the intermediary

Business Management, Underwriting and Operations (9 Branches) – 30%

  • Process and renew policies in the bancassurance system.
  • Ensure Motor certificates, cover notes and policy documents are issued to the clients.
  • Advise Branches and clients on Insurance rates and terms.
  • Ensure Policy reinstatements revisions and endorsements are done and communicated to the underwriters.
  • 9 Branches management on Debt collection, Policy renewals and policy cover issue. The branches include.
  • Ensure accurate debit notes & credit notes are raised in the bancassurance system.
  • Ensure accurate policy endorsements and revisions are raised in the system.
  • Ensure Policy contra and cancellation credit notes are raised in the system.

Customer Experience Management – 10%

  • Meet the departmental internal customer satisfaction.
  • Identify opportunities for business development and providing insightful feedback on products and solutions that help in the customization and development of new products/solutions.
  • Deliver high level customer service and client satisfaction.

Risk and Compliance – 5%

  • Ensure all Insurance companies under the bank insurance panel signed Service Level Agreement.
  • Ensure we comply with IRA on the Bancassurance Intermediary appointment and onboarding as an intermediary to appointed insurance companies.
  • Ensure implementation and compliance with operational policies and procedures, AML/CFT Policy.

DECISION MAKING AUTHORITY

  • This section records how decisions are made and the accountability for making decisions. Give examples Day to day making of
  • Business decisions and advising customers on their insurance needs and costs. These include ALL clients in assigned branches. In
  • The position holder is expected to make informed decisions and give customers advise on the same.
  • Any matter involving premium refunds will be referred to the Finance and operations team who will seek approval from Head of Bancassurance before effecting

ACADEMIC BACKGROUND

  • Bachelor’s Degree (Preference given to Actuarial, Insurance, Statistics or a Business-Related Course)

WORK EXPERIENCE

  • At least 1 years in insurance, preferably in Bancassurance back office operations and claims experience.

SKILLS & COMPETENCIES

  • Knowledge in Bancassurance Underwriting and Operations procedures.
  • Knowledge in Insurance and Insurance products.
  • Good Analytical and Interpersonal Decision-making skills.

PROFESSIONAL CERTIFICATION

  • COP (Certificate of Proficiency in Insurance) or Diploma in Insurance ACII or IIK.
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