PURPOSE OF JOB: Responsible for all aspects of the Underwriting and Insurance Administration activities ensuring the service delivery to Brokers
KEY AREAS OF THE JOB:
- Responsible for All Insurance underwriting.
- Maintain, and revise service level agreements with brokers for the company.
- Identify potential areas of underwriting exposure and risk and implement corrective measures.
- Provide reports on a regular basis to the Director and keep them informed of any changes, risks etc.
MAJOR TASK HEADINGS OR KEY PERFORMANCE AREAS:
- Ensure that terms provided to brokers/reinsurers are in line with facility authority.
- Where this is not possible, to advise Insurers and obtain their agreement.
- Manage the expectations of the brokers/reinsurers.
- Handling of general broker queries in line with the products being sold.
- Receive, refer and present terms for new business, renewals and endorsements in line with pre-agreed mandates as detailed in the various binders
- Prepare and load business onto insurance system and ensure that all debits are raised.
- Follow-up of renewal terms with brokers; obtain the necessary proposals well in advance.
- Manage the relationship with the insurance IT system providers. Investigate more efficient processes and implement changes that will enhance efficiencies.
- Process all cancellations on the insurance system.
- Credit control
- Ensure premiums are paid across to Underwriters in line with the premium payment warranties as detailed in the binders; by the finance department.
- Advise brokers regarding unpaid premium.
- Request refunds from accounts department.
- Ensure that risks are underwritten and that binder profitably is maintained and profit commissions monitored regularly.
- Should profitability deteriorate, problem areas to be identified and corrective underwriting action taken.
- Prepare annual binder submission packs.
- Maintain binder triangulations monthly implement standardized reporting to this effect.
- Ensure that claims are handled timeously and that estimates are updates quarterly, by the claims department.
COMPETENCIES AND PERSONAL SKILLS:
- Strong understanding and knowledge of:
- Lloyds
- Binders
- Underwriting
- Profit Commissions
- Management reporting
- Superior written and verbal communications skills.
- Strong project management skills with demonstrated ability to multi-task and set priorities within tight timelines.
- Flexible and open to changing priorities and managing multiple tasks simultaneously within timeframes.
- Ability to perform a host of administrative functions.
- Ability to manage the expectations of internal clients.
- Excellent interpersonal skills
- Knowledge of various insurance products.
EDUCATION AND EXPERIENCE:
- Relevant FSB qualification.
- A minimum of ten years relevant experience in the short-term insurance industry.
- Computer Literate.
- Relevant insurance qualification.
