Underwriter

Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling Life, Pensions, General and Medical Insurance. Today, Jubilee is the number one insurer in East Africa with over 1.9 million clients. Jubilee Insurance has a network of offices in Kenya, Uganda, Tanzania, Burundi, and Mauritius. It is the only ISO certified insurance group listed on the three East Africa stock exchanges – The Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities Exchange. Its regional offices are highly rated on leadership, quality and risk management and have been awarded an AA- in Kenya and Uganda, and an A+ in Tanzania. For more information, visit www.JubileeInsurance.com.

We currently have an exciting career opportunity for an Underwriter within Jubilee Life Insurance Limited. The position holder will report to the Assistant Manager – Underwriting and will be based at our Head Office in Nairobi.

Role Purpose

The role holder will be responsible for ensuring effective evaluation and assessment of risks associated with life insurance policies to contribute to the achievement of the business’ financial objectives. The role holder will carry out duties in line with compliance of underwriting and member registration activities and processes.

Main Responsibilities

1. Operational

▪ Underwriting– Risk assessment, classifying of risk and pricing accordingly. Ensure that new clients comply with life insurance and pensions regulation relating to KYC and anti-money laundering guidelines.
▪ New Business Issuance–Ensuring timely issuing of new business within given TAT.
▪ Policy Document Preparation – Signing of policy documents as per the authority limits.
▪ Data Management – Ensuring data relating to new business is continuously updated and well maintained and handled with utmost confidentiality.
▪ Customer Care–Ensuring timely response to customer queries and requests and adhering to “get it right the first time” policy. Liaise with tied agents and intermediaries to achieve issuance of policies within given timelines.
▪ Book medical fees for doctors in the system and pay medical fees to doctors assigned to you within 30 days of Invoice.
▪ Keep up to date with industry changes and maintain good working relationships with our various stakeholders.
▪ Manage the not taken up policies to ensure conversion of pending proposals to issued business within given timelines.
▪ Monitor changes of policy premium status, identify and address process gaps within the New business function.
▪ Carry out financial underwriting for given policies and implement other activities aimed at improvements of new business persistency.
▪ Projects – Implementing projects relating to new business aimed at improving efficiency and accuracy.
▪ Maintain documents registry for scanned application forms and medical reports.
▪ Any other responsibility may be assigned by your supervisor or management from time to time.

2. Corporate Governance

▪ Underwriting Guidelines. Apply underwriting guidelines and policies to determine whether an applicant meets the criteria for coverage.
▪ Compliance. Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
▪ Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
▪ Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.

3. Culture

▪ Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
▪ Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
▪ Individualized Development Planning. Create personalized development plans that align with your career aspirations and the organization’s objectives.

Key Competencies

▪ Data Analysis
▪ Visionary Leadership
▪ Entrepreneur spirit
▪ Market awareness
▪ Customer focus
▪ Continuous Innovation
▪ Ownership & commitment
▪ Team spirit

Academic Background & Relevant Qualifications

▪ Bachelor’s degree in Insurance, Finance, Business or any other related course
▪ Diploma in Insurance.
▪ LOMA/CII/IIK Qualification will be an added advantage.
▪ Minimum 1-2 years’ experience in a similar role