Underwriting Executive at AIICO Insurance

• We are looking for a detail-oriented underwriter who is able to take initiative and work well with others as a team.
• The job requires efficiency and effectiveness in order to meet agreed turnaround times.
• Among other things, the role will be required to interface with brokers and marketers regularly as part of the effort to ensure that excellent services are delivered by the team at all times.

ROLE COMPLEXITY

• The role would require an individual with that is smart, intelligent and willing at all times to collaborate with the team to achieve results.
• The role is also expected to liaise with the team lead regularly on what needs to be done and to ensure that expectations of brokers and clients are met promptly.
• Carry out pre-renewal review of risks and communicating the renewal terms to the client through the agent. In the same vein, the role is expected to flag any risk that has been value-eroding for the business.

FUNCTIONS & RESPONSIBILITIES

• Preparation of quotations after reviewing a new proposal from client.
• Develop and maintain strong relationship and credibility with the sales team and brokers.
• Ensure that all underwriting records and files of clients are updated at all times.
• Ensure debit/credit notes in respect of a concluded transactions are issued to the client/broker as at when due.
• Ensure that any policies with loss ratio above 70% are escalated to higher authorities for decisions 2 months before renewal.
• Ensure compliance with the KYC requirements of the company in respect of both new and renewal businesses.
• Ensure that all fire, motor and engineering risks in line with the organization’s policy are sent to the risk management and survey team for inspection and follow up done until survey is done, and risk improvement recommendations are communicated to the insured/broker as the case may be.
• Ensure receipts are obtained in respect of all transactions for which premium has been remitted by the broker/client within 48 hours.
• Acknowledge all mails and diarize for follow up within 2 hours.
• Deliver endorsements in respect of all policy alterations and renewals within 24 hours.
• Deliver policy document within 48 hours.
• Any other functions as deemed necessary by the team lead for the unit.

CORE COMPETENCIES

• Good communication skills
• Time management skills.
• Ability to work together as a team.
• Ability to work with little or no supervision.
• A self-starter and self-motivator.
• Ability to adapt to new environment.

FUNCTIONAL COMPETENCIES

• Skilled in the use of Microsoft words, power point and excel.
• Good underwriting skills.

QUALIFICATIONS

• At least 2-3 years working experience as an underwriter.
• BSc/HND in any field.
• A master’s degree would be an added advantage.
• Associate member, Chartered Insurance Institute of Nigeria or the professional Qualification-in-view.