Technical Underwriter at Creditstar Microinsurance Company Limited

Position Overview: 

• We are seeking a meticulous and analytical Technical Underwriter to join our underwriting team.
• The ideal candidate will possess strong analytical skills and a deep understanding of insurance underwriting principles.
• The Technical Underwriter will be responsible for evaluating risk, determining pricing, and ensuring the profitability of our microinsurance products.

Key Responsibilities:

Risk Assessment:

• Evaluate new and renewal insurance applications to determine risk exposure.
• Analyze individual and group risk profiles using various data sources and assessment tools.
• Make informed decisions on policy approvals, declines, and modifications.

Pricing and Policy Development:

• Develop and maintain pricing models for various microinsurance products.
• Collaborate with the product development team to create innovative and competitive insurance solutions.
• Ensure that pricing strategies align with company objectives and regulatory requirements.

Data Analysis and Reporting:

• Conduct regular analysis of underwriting performance and provide insights to management.
• Prepare detailed reports on underwriting activities, trends, and portfolio performance.
• Utilize statistical and actuarial techniques to refine risk assessment processes.

Policy Compliance:

• Ensure that underwriting policies and practices comply with regulatory standards and company guidelines.
• Keep up-to-date with industry regulations and market conditions affecting underwriting practices.

Collaboration and Support:

• Work closely with sales, marketing, and claims departments to support business goals.
• Provide technical guidance and support to junior underwriters and other team members.
• Participate in training programs and knowledge-sharing initiatives to enhance underwriting capabilities.

Customer and Stakeholder Engagement:

• Communicate effectively with agents, brokers, and clients to explain underwriting decisions.
• Build and maintain strong relationships with external partners and stakeholders.

Continuous Improvement:

• Identify opportunities for process improvements and implement best practices in underwriting.
• Stay informed about new technologies and methodologies to enhance underwriting efficiency.

Qualifications:

• Bachelor’s degree in Insurance, Risk Management, Business Administration, or a related field. Advanced degrees or professional certifications (e.g., ACIIN) are a plus.
• Minimum of 3years of underwriting experience, preferably in the microinsurance or general insurance industry.
• Strong analytical and problem-solving skills with a keen attention to detail.
• Proficiency in underwriting software and Microsoft Office Suite (Excel, Word, PowerPoint).
• Excellent communication and interpersonal skills.
• Ability to work independently and as part of a team in a fast-paced environment.
• Knowledge of local and international insurance regulations.
• Passion for social impact and experience working with underserved communities is a plus.