Senior Underwriter, Corporate, Emerging Markets & IPMI at Jubilee Insurance

Job Ref. No: JHIL158

Role Purpose

The role holder will be responsible for the management, administration and control of the company’s underwriting operations to ensure profitable growth, quality and timely service. Responsible for timely set-up, renewal, service and support, documentation, and management of schemes on ACTi sure, and handling related queries from clients and intermediaries on new or existing schemes. Provide dedicated and comprehensive service to the intermediaries, clients and internal customers with a proactive approach to ensure business acquisition and retention of the schemes by meeting set service timelines while ensuring underwriting guidelines and controls are strictly adhered to and enforced.

Key Responsibilities

Strategy

• Contribute to the development and implementation of underwriting strategies and philosophies, aligning them with the company's overall business goals.
• Identify and assess emerging risks in the insurance sector and propose strategies to effectively mitigate those risks.
• Design and implementation of automated underwriting processes to drive efficiency and Customer excellence, and development of intelligent underwriting models to drive growth, profitability and customer behaviour.

Operational

• Develop and implement the underwriting philosophy for business including underwriting guidelines, underwriting manuals and authority matrices.
• Review and approval of non-standard quotations for underwriting compliance.
• Review and approval of renewal terms and conditions for underwriting compliance.
• Quality assurance of new, renewal and additional business to ensure adherence to underwriting guidelines and customer excellence.
• Timely issuance of policy and underwriting documents.
• Support the distribution team in new business acquisition and renewal engagements to close contracts.
• Preparation of various underwriting reports for management insights and decision making.
• Re-underwriting of the corporate book for profitable growth.
• Schemes Onboarding: Ensure accurate membership set up, benefits set up, prompt debiting and dispatch of premiums invoices and the renewal/commencement premium schedules to the client/intermediary.
• Scheme Maintenance: Manage membership details in ACTi sure and ensure timely scheme maintenance i.e., timely communication to intermediaries/clients/Relationship managers, issuance of policy documents and contracts, timely dispatch of premium debits/credits, scheme reconciliations, reporting and ensure all agreed TATs are met.
• Ensure accurate system capture of medical benefits purchased and members covered, prompt debiting and dispatch of premiums invoices and the renewal/commencement premium schedules to the client/intermediary.
• Ensure all documents required by client/intermediary are issued within the expected TATs and SLA.

Corporate Governance

• Ensure compliance with underwriting guidelines, company policies, and regulatory requirements, maintaining high standards of ethical and legal conduct.
• Establish and maintain risk control measures to monitor and manage risks associated with insurance policies effectively.

Leadership & Culture

• Provide guidance, mentorship, and technical expertise to junior underwriters, fostering a collaborative and supportive work environment.
• Build and maintain positive relationships with brokers, clients, and other internal and external stakeholders, providing exceptional customer service.

Key Skills and Competencies

• Analytical Thinking: Ability to analyse complex underwriting data, identify patterns, and make informed underwriting decisions based on sound judgment.
• Attention to Detail: Thoroughly review and assess insurance applications, policies, and related documents to ensure accuracy and minimize errors.
• Decision-Making: Demonstrate strong decision-making skills in assessing risks, evaluating options, and determining appropriate underwriting actions for insurance policies.
• Communication: Excellent communication skills to effectively convey underwriting decisions, policy terms, and conditions to stakeholders in a clear and concise manner.
• Financial Analysis: Proficient in analysing financial statements and evaluating the financial stability of clients.
• Risk Evaluation: Strong understanding of risk assessment methodologies and underwriting principles specific to the insurance segment.

Academic & Professional Qualifications

• Bachelor’s degree in business administration, Actuarial Science, Finance, or a related field. Master's degree is a plus.
• Professional Insurance Qualification.

Relevant Experience

• A minimum of four (4) Years Experience in Health Underwriting.