Underwriting Manager

Underwriting Manager – (2400003S)

Job Purpose and Key responsibilities

The role holder will be responsible for developing and managing underwriting and reinsurance activities in accordance with the company’s underwriting and reinsurance policy and standards so as to meet and exceed customers and shareholders’ expectations. The role will report to the Chief Operations Officer.

Key responsibilities

1. Oversee underwriting and reinsurance activities of the company.
2. Vet all risks to ensure that only quality business is accepted by the company based on the approved rates to ensure profitability and achievement of the set loss ratio targets.
3. Implement the underwriting strategy, philosophy, policies and procedures.
4. Ensure achievement of the agreed renewal retention targets.
5. Ensure continuous review of accounts performance to ensure profitability.
6. Ensuring that the risks undertaken by the company are adequately covered through reinsurance programs.
7. Ensure optimum utilization of the reinsurance treaties
8. Design and implement the company’s policies specifically in relation to risk surveys.
9. Manage relationships with clients, intermediaries and service providers to ensure agreed service level agreements are achieved and goodwill with all stakeholders is maintained.
10. Ensure adherence to the company’s policies on onboarding of new clients and compliance with KYC, AML/CFT policies.
11. Ensuring timely preparation of reports
12. Supervision, appraisal, training and development of staff in the department
13. Manage staff and resources, provide direction, set goals and ensure the department goals are attained.
14. Deliver on performance requirements as defined in the departments’ strategy map, balanced scorecard and Personal Scorecard.

Key Performance Measures

• Gross premium written
• Net promoter score
• Net loss ratio
• Renewal retention
• Debtors ratio
• Compliance

Working Relationships

Internal Relationships:

The Underwriting Manager will be:

• Accountable to Chief Operations Officer.
• Responsible for the following staff;
• Assistant Underwriting Manager-Broking & Bancassurance
• Assistant Underwriting Manager-Direct & Agents
• Reinsurance Officer

External Relationships:

• Britam customers.
• Insurance sector players.
• Service Providers
• Regulator

Knowledge, experience and qualifications required

1. Relevant Bachelor’s Degree; MBA is an added advantage.
2. Professional qualification in Insurance (ACIl or equivalent qualifications).
3. Seven years’ experience in underwriting 3-4 of which must be in a management position.
4. Proven experience as an Underwriting Manager in the Insurance industry.
5. A deep understanding of leveraging technology and processes to standardise operations, reducing turnaround times on all key business processes.

Essential Competencies

1. Deciding and Initiating Action: Ensures, key organisational objectives are met, takes responsibility for decisions, actions, projects and people while focussing on achievement of strategic results; takes initiative and works under own direction; initiates and generates activity; makes quick, clear decisions with limited information available which may include tough choices or considered risks; decisions and actions takes into account possible impact on all parts of the business.
2. Leading and Supervising: Provides the business with a clear direction based on the overall strategic intent of the organisation; motivates and empowers others with a clear sense of purpose; creates a positive organisational climate that fosters learning and development; acknowledges high potential talent; sets and articulates the vision and values through own personal behaviour.
3. Relating and Networking: Easily establishes, as well as assists others in building good relationships with customers and staff across all departments, inside and outside of the organisation; relates well to people at all levels; facilitates the resolutions of conflicts and manages disagreements with tact and diplomacy.
4. Persuading and Influencing: Gains clear agreement and commitment from others by persuading, convincing and negotiating to the benefit of the organisation, promotes the organisational strategy during conversations; makes effective use of political processes to influence and persuade others; promotes ideas on behalf of oneself, the department or the organisation; makes a strong personal impact on others; takes care to manage the organisation’s impression and brand on others.
5. Formulating Strategies and Concepts: Works strategically to realise organisational goals; sets and develops organisational strategies; identifies, develops positive and compelling visions of the organisation’s future potential; takes account of a wide range of issues across, and related to, the organisation; encourages others to take a strategic and long term view in terms of the organisation’s future; communicates the organisational strategy, vision and objectives effectively across all levels of the organisation.

Primary Location: Malawi-Blantyre-Blantyre
Organization: Britam Insurance Company Malawi Limited
Job Type: Permanent
Shift: Day Job
Contract Type: Full-time
Job Posting: 27-11-2024
Unposting Date: 11-12-2024
Number of Openings: 1

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