Head, Underwriting and Reinsurance

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 Head, Underwriting and Reinsurance

1.   Background Information

Job Title: Head, Underwriting and Reinsurance

Institution: Sonarwa General Insurance

Department: Underwriting and Reinsurance

Reports to:  Chief Operations Officer

2.   Purpose of the Job:

This role is responsible for the development and implementation of the underwriting and reinsurance strategy and management of complex activities in accordance with the company’s underwriting and reinsurance policy and standards

3.   Main Responsibilities of the Job:

a)      Develop and oversee the implementation of underwriting and reinsurance strategy to ensure the underwriting and reinsurance processes supports the achievement of the Sonarwa business strategy;

b)      Develop policies and procedures for use to ensure the availability of guidelines that support the delivery of service that is within the insurance regulator directives

c)       Oversee underwriting and reinsurance activities of Sonarwa

d)      Vet all complex and large risks to ensure that only quality business is accepted into the company at acceptable rates to ensure profitability and achievement of the set loss ratio targets

e)       Prepare and maintain business underwriting strategy philosophy, policies and procedures manual

f)        Ensure achievement of Sonarwa’s agreed renewals retention targets

g)      Ensure that the risks undertaken by Sonarwa are adequately covered through reinsurance programmes

h)      Construction of equitable policy contracts and due execution of policies and other accountable documents

i)        Manage relationships with clients, intermediaries and service providers to ensure agreed service level agreements are achieved and goodwill with all stakeholders is maintained

j)        Oversee  training and development of staff in the underwriting and reinsurance section

k)      Manage staff and resources, provide direction, set goals and ensure that overall department goals are attained

l)        Manage the training and development of staff in the function to ensure the continued availability of the required competencies for the successful delivery by the underwriting and reinsurance  function

4.   Performance indicators

a)    Well negotiated treaty terms

b)    Level of compliance in the underwriting and Reinsurance processes

c)    Quality record keeping

d)   Risk  Compliance

e)    Well defined and updates policies and procedure for the department

5.   Working relationships

Internal Relationships:

a)    Responsible for staff working under this position

b)    Required to liaise and work closely with the other departments as may be necessary

External Relationships:

a)    Sonarwa customers

b)    Insurance sector players

c)    Reinsurance companies

6.   Professional, academic qualifications and experience

a)    Bachelor’s Degree in a business-related field. Master’s Degree an added advantage.

b)    Five (5) years’ experience in insurance; two of which should be in a managerial capacity in Underwriting/Reinsurance

c)    Professional qualification in Insurance (ACII, CII)

7.   Core competencies

a)    Core Competencies

b)    Communication skills

c)    Building Relationships

d)   Focuses on the Customers

e)    Develops Self

f)     Solves Problems

g)    Develops Others

h)   Manages Quality and Risk   

i)     Managing Change and Ambiguity

j)     Managing and Executing Strategy

k)   In-depth understanding of  insurance operations and  concepts

l)     Knowledge of insurance regulatory requirements

m)  Knowledge of underwriting  processes, procedures, and concepts

 

Application process

Interested & qualified candidates will submit their application through the “Apply for this Job" including a summarized CV with 3 professional references & a Cover letter (all in 1 document) not later than 19th February 2020.