Reinsurance Associate – Life Insurance job at Britam
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485 Days Ago
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Vacancy title:
Reinsurance Associate – Life Insurance

[ Type: FULL TIME , Industry: Insurance , Category: Insurance ]

Jobs at:

Britam

Deadline of this Job:
13 December 2022  

Duty Station:
Within Kenya , Nairobi , East Africa

Summary
Date Posted: Tuesday, November 29, 2022 , Base Salary: Not Disclosed

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JOB DETAILS:
Job Purpose:
• The job holder shall look after the various reinsurance arrangements including treaty and facultative reinsurance protection for all classes of life business written by the company, namely Ordinary life, Group Life, Credit Life and Sacco.
• Assist in implementation of the company’s reinsurance program based on overall company’s objectives and maintain a business relationship with the Company’s underwriting and finance department and with the local, regional and international reinsurance market.

Key responsibilities:
• Analyze the risks accepted and ensure risks are ceded properly.
• Ensure that all acceptances are protected by proper reinsurance arrangement on a back to back basis without any gaps in risks accepted and reinsurance protection availed.
• Obtain all necessary underwriting information required to place the risk in the local reinsurance market.
• Arranging proper reinsurance protection as and when required.
• Place reinsurance directly to the market or through the broker whether on facultative or any other basis depending on the need of the situation.
• Assist in the administration of the reinsurance program.
• Ensure timely submission of closing and accounting documents as well as for settlement of premium recovery of claims from reinsurers.
• Ensure accuracy of reinsurance contract with reference to original terms at which reinsurance is accepted.
• Maintain efficient communication lines between the company and brokers.
• Prepare reinsurance underwriting and claims statistics on a regular basis and update the same at periodic intervals as per requirement.
• Review reinsurance payments/recoveries relating reinsurance premium, commissioning and claims.
• Premium adjustments and returns
• Ensure prompt claims recovery
• Liaise with intermediaries and direct clients on issues relating to their policies for Group Life, Credit Life and Sacco business.
• Apply the credit control policy by ensuring that debit/credit notes raised are mailed and that they reach the clients/intermediaries within the shortest time possible.
• Collate underwriting requirements and request for quotations.
• Discuss the Projections with Reinsurers and ask for quotes.
• Negotiate Treaty Terms.
• File treaties and other Reinsurance Arrangements with IRA.
• Update treaties in the insurance system.
• Facilitate facultative agreements for the identified risks.
• Underwriting of renewal business for Group life and Credit Life.
• Underwriting of New Group life and Credit Life Business.
• Liaise internally with other members of the team to ensure effective and efficient execution of client’s requests.
• Perform any other duties as may be assigned from time to time.

Key Performance Measures:

• As described in your Personal Score Card.

Knowledge, experience and qualifications required:
• Business related University Degree – insurance, statistics,accounts preferred.
• Professional Insurance qualification(ACII, FLMI or AIIK).
• Must have a minimum of 3 years’ experience in Underwriting & Reinsurance fields.
• Must have Knowledge of Reinsurance Treaty, Facultative wording and Reinsurance Slips preparation.
• Must have Knowledge of Group Life, Credit Life and Sacco Business.

Technical/ Functional competencies:
• Knowledge of insurance regulatory requirements.
• Knowledge of insurance products.
• Sales and marketing management skills.
• Underwriting, Service or Claims background is an added advantage.


Work Hours: 8


Experience in Months: 36

Level of Education:
Bachelor Degree

Job application procedure

Use the link(s) below to apply on company website.
Reinsurance Associate – Life Insurance


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QUICK ALERT SUBSCRIPTION

Job Info
Job Category: Banking/ Finance jobs in Kenya
Job Type: Full-time
Deadline of this Job: 13 December 2022
Duty Station: Nairobi
Posted: 29-11-2022
No of Jobs: 1
Start Publishing: 29-11-2022
Stop Publishing (Put date of 2030): 29-11-2065
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