About Kenya Orient Insurance Limited

The company was incorporated in 1982 by the Al Fateem Group of Dubai and was later acquired by Kenyans in 1988. Kenya Orient Insurance was then formed in 2004 after a transfer of ownership from the previous proprietors to its current owners. We have since enjoyed steady growth as a company and are fast becoming a force to reckon with in the industry.

KEY TASKS, DUTIES AND RESPONSIBILITIES

Support product development by leveraging data to design and enhance customer-focused insurance solutions.

Conduct customer retention and policy conversion analysis to assess the effectiveness of sales and distribution channels.

Perform market intelligence research and analyze industry data to evaluate product relevance and competitiveness.

Contribute to strategy formulation by identifying and interpreting trends from data insights.

Analyze expenses to identify process inefficiencies and cost leakages.

Support cost management initiatives to achieve profitability targets and optimal expense ratios.

Analyze claims data to assess underwriting risks across different business channels.

Provide insights on risk-based pricing to help reduce claims costs.

Evaluate claims emergence and payment patterns to improve claims processing efficiency.

Support actuarial reserving processes, including IBNR, UPR, DAC, and other technical provisions.

Participate in reviews to enhance the adequacy of claims reserving methodologies.

Contribute to reinsurance optimization to ensure cost-effective risk transfer.

Perform experience analyses (claims, lapses, expenses) to inform pricing, reserving, and liability projections.

Support the actuarial control cycle by updating assumptions based on emerging experience.

Assist in reviewing underwriting and claims policies to ensure alignment with actuarial assumptions.

Develop and maintain databases to improve data quality and analytical efficiency.

Identify opportunities for process improvement and automation.

Support compliance with actuarial and financial reporting standards, including IFRS 17.

Ensure models are well-documented, validated, and subject to peer review.

Collaborate with IT and other stakeholders to implement system enhancements and resolve issues.

Assist in product setup within systems and ensure accuracy of configurations.

Prepare timely and accurate reports to support management decision-making.

Support preparation of regulatory reports, including submissions to IRA and AKI.

Assist in preparing documentation for new product approvals.

Ensure adherence to actuarial policies, procedures, and standard operating guidelines.

REQUIREMENTS

Bachelor’s degree in Actuarial Science, Statistics, Mathematics, Engineering, or a related quantitative field.

Progress towards a professional actuarial qualification, with at least three (3) papers passed from the Institute and Faculty of Actuaries or an equivalent recognized body.

Membership in a relevant professional body is an added advantage.

A minimum of three (3) years’ relevant experience

• Support product development by leveraging data to design and enhance customer-focused insurance solutions.
• Conduct customer retention and policy conversion analysis to assess the effectiveness of sales and distribution channels.
• Perform market intelligence research and analyze industry data to evaluate product relevance and competitiveness.
• Contribute to strategy formulation by identifying and interpreting trends from data insights.
• Analyze expenses to identify process inefficiencies and cost leakages.
• Support cost management initiatives to achieve profitability targets and optimal expense ratios.
• Analyze claims data to assess underwriting risks across different business channels.
• Provide insights on risk-based pricing to help reduce claims costs.
• Evaluate claims emergence and payment patterns to improve claims processing efficiency.
• Support actuarial reserving processes, including IBNR, UPR, DAC, and other technical provisions.
• Participate in reviews to enhance the adequacy of claims reserving methodologies.
• Contribute to reinsurance optimization to ensure cost-effective risk transfer.
• Perform experience analyses (claims, lapses, expenses) to inform pricing, reserving, and liability projections.
• Support the actuarial control cycle by updating assumptions based on emerging experience.
• Assist in reviewing underwriting and claims policies to ensure alignment with actuarial assumptions.
• Develop and maintain databases to improve data quality and analytical efficiency.
• Identify opportunities for process improvement and automation.
• Support compliance with actuarial and financial reporting standards, including IFRS 17.
• Ensure models are well-documented, validated, and subject to peer review.
• Collaborate with IT and other stakeholders to implement system enhancements and resolve issues.
• Assist in product setup within systems and ensure accuracy of configurations.
• Prepare timely and accurate reports to support management decision-making.
• Support preparation of regulatory reports, including submissions to IRA and AKI.
• Assist in preparing documentation for new product approvals.
• Ensure adherence to actuarial policies, procedures, and standard operating guidelines.

• Bachelor’s degree in Actuarial Science, Statistics, Mathematics, Engineering, or a related quantitative field.
• Progress towards a professional actuarial qualification, with at least three (3) papers passed from the Institute and Faculty of Actuaries or an equivalent recognized body.
• Membership in a relevant professional body is an added advantage.