Summary
Date Posted: Monday, October 25, 2021 , Base Salary: Not Disclosed

JOB DETAILS:
Job Purpose:
The job holder shall look after the various reinsurance arrangements including treaty and facultative reinsurance protection for Life business (Ordinary life, Group Life, Credit Life and Sacco Business) written by the company in Kenya.
Assist in implementation of the company’s reinsurance programme 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.
• Assist in 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 to 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.
• Liaise internally with other members of the team to ensure effective and efficient execution of client’s requests
• Delegated Authority: As per the approved Delegated Authority Matrix
• 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 New Group life and Credit Life Business
• Underwriting of renewal business for Group life and Credit Life
• Perform any other duties as may be assigned from time to time

Knowledge, experience and qualifications required
• Business related University Degree – insurance, statistics, accounts preferred
• Professional Insurance qualification, (FLMI,CII OR IIK) – progress
• Must have a minimum of 3 years’ experience in the reinsurance field.
• Knowledge of Reinsurance Treaty, Facultative wording and Reinsurance Slips preparation a must

Education Requirement: No Requirements

Job Experience: No Requirements

Work Hours: 8

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Job application procedure
Apply at: https://www.myjobmag.co.ke/apply-now/331042 

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