Insurance Underwriter Job at MUTUAL BENEFIT LIFE ASSURANCE PLC
Mutual Benefits Assurance Plc (MUTUAL), has evolved into a conglomerate consisting of value-adding companies with diverse interests in various sectors of the Nigerian economy through investments, strategic alliances and partnerships. Today, MUTUAL is a leading brand in the Nigerian Insurance industry and well-capitalized with a team of highly trained professionals, a respectable Board and access to the International Insurance Market.
We are recruiting to fill the vacant position below:
Job Position: Insurance Underwriter
Job Location: Abuja
Job Type: Full-time
- Ensure quality underwriting and claims management for all classes of general insurance, prompt and error-free documentation of policies to achieve superior customer service delivery.
Duties & Responsibilities
- Analyse risk in Insurance proposals, determine policy terms and calculate premiums
- Issue policy documents and renewal endorsement to clients / brokers
- Undertake Risk Evaluation analysis; pricing and Underwriting
- Ensure Full compliance to Underwriting Guidelines/Standard Operating Procedures
- Prepare and deliver policy deliverables (i.e. policy documents, endorsements, Certificates, Warranties and Clauses as well as Debit and Credit Notes to Clients/Brokers
- Generation of Reports for Regular review and reconciliation ensuring completeness and accuracy
- Experience based risk pricing in order to achieve profitable underwriting results
- Regular monitoring of the risk exposures viz a viz the Company’s risk appetite and retention for each business portfolio
- Issue and forward renewal notices to clients/brokers
- Carry out pre-loss physical inspection of the subject matter of insurance proposed for insurance cover and conduct on the spot inspections of motor accidents
- Attend to clients enquiries/requests and escalate critical issues to the Unit/ Confederal Head
- Prepare policy documents for new businesses and pass to line manager for review and approval
- Draft letters to clients for review and approval by line manager
- Raise and follow up on cheque requisitions for various payments – co insurers, commissions, claims, loss adjusters etc
- Provide input into preparation of various reports weekly, monthly and adhoc reports
- Allocate policy numbers to new businesses
- Assist in computing additional/return premiums due as a result of alterations
- Collate bid documents to be reviewed by the Unit head / team lead
- Assist in collating, sorting and separating about-to-lapse files from those still in force to determine those needing notice
- Market company`s products and services
- Provide effective technical back up support to the marketers in order to deliver a pleasant customer experience and professional risk management advisory services
- Upload of vehicles into Nigerian Insurance Industry Database (NIID).
- First degree (Minimum of Second Class Upper degree) in related field
- Master''s degree is an added advantage
- Candidate must be a Associate of CIIN
- Minimum of 5 years’ relevant experience in general insurance underwriting and claims management.
- Degree in Insurance and its related discipline will be an added advantage.
- Excellent knowledge of NAICOM guidelines and methodologies for achieving compliance
- Demonstrable understanding of the underwriting concepts, principles, practices, and procedures
- Proven Insurance Underwriting Skills
- Confident decision making skills
- Excellent knowledge of insurance policies
- Proven numeracy and statistical skills
- Strong analytical and quantitative skills
- Excellent negotiation and interpersonal skills
- Proficiency in the use of Microsoft Office applications
- Excellent verbal and written communication skills
- Exceptional leadership skills.
Note: Candidate must be resident of Abuja, Nigeria.
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