Background

Madison Group Limited is a locally owned financial services holding company that specializes in Insurance and wealth management services. The Group comprises of Madison Life Assurance Kenya Limited, Madison General Insurance Kenya Limited, and Madison Investment Managers Limited. Madison Life Assurance Kenya was originally incorporated under Kenyan Laws in 1988 as Madison Insurance Company Limited (MICK) after a successful merger between Crusader Plc (1974) and Kenya Commercial Insurance Corporation.

Responsibilities

Processing of statutory returns.

Process and negotiate treaty renewals for both general and medical then liaising with Treaty leader and documenting the agreed terms on Treaties with Reinsurers i.e. treaty slips

Placement of Facultative Out business and ensuring we seek for Facultative In business.

Preparing each year reinsurance programme and circulating to claims, underwriting, marketing and finance.

Preparing of treaty accounts i.e. quarterly A/c’s, premium Adjustment, Portfolio A/c’s, Profit Commission

Processing of recoveries from reinsurers both facultative and Excess of loss.

Notifying reinsurer of cash losses and pursue recovery of the same timely as per treaty terms

Assist in dealing with routine Treaty and Facultative administration matters and account queries from Reinsurers.

Set up of new treaties in the system.

Identify reconciliation items on both treaty and facultative accounts and liase with finance and credit control departments to ensure reconciliation is done

Engage intermediaries and business partners in order to grow the business

Assist, advice and support marketing team in all marketing initiatives business acquisition and retention including training and visits.

Any other task as deemed necessary for the efficient operation of the department.

Skills and Competencies Required

Sound Technical Underwriting skills

Intensive and extensive product knowledge

People Management and overall managerial skills

Good analytical skills

Customer service skills

Good Communication Skills

Computer Literate with good knowledge of Excel

Negotiation, influencing and selling skills

Ability to develop relationships with key business partners

Open mind to try new ways and alternative approaches of doing things

Academic, Professional and Work Experience required

Bachelor’s degree in business or related field.

Completed professional qualification in insurance (IIK)

Minimum 5 years of experience in Reinsurance

• Processing of statutory returns.
• Process and negotiate treaty renewals for both general and medical then liaising with Treaty leader and documenting the agreed terms on Treaties with Reinsurers i.e. treaty slips
• Placement of Facultative Out business and ensuring we seek for Facultative In business.
• Preparing each year reinsurance programme and circulating to claims, underwriting, marketing and finance.
• Preparing of treaty accounts i.e. quarterly A/c’s, premium Adjustment, Portfolio A/c’s, Profit Commission
• Processing of recoveries from reinsurers both facultative and Excess of loss.
• Notifying reinsurer of cash losses and pursue recovery of the same timely as per treaty terms
• Assist in dealing with routine Treaty and Facultative administration matters and account queries from Reinsurers.
• Set up of new treaties in the system.
• Identify reconciliation items on both treaty and facultative accounts and liase with finance and credit control departments to ensure reconciliation is done
• Engage intermediaries and business partners in order to grow the business
• Assist, advice and support marketing team in all marketing initiatives business acquisition and retention including training and visits.
• Any other task as deemed necessary for the efficient operation of the department.

• Sound Technical Underwriting skills
• Intensive and extensive product knowledge
• People Management and overall managerial skills
• Good analytical skills
• Customer service skills
• Good Communication Skills
• Computer Literate with good knowledge of Excel
• Negotiation, influencing and selling skills
• Ability to develop relationships with key business partners
• Open mind to try new ways and alternative approaches of doing things

• Bachelor’s degree in business or related field.
• Completed professional qualification in insurance (IIK)