Jobs at African Reinsurance Corporation

The Underwriting Officer supports Underwriters in daily activities (processing) that provide services to customers. 

The incumbent will carry out the following functions:

Perform underwriting support activities associated with information gathering of all businesses, renewals, and mid-term portfolio review on behalf of the Underwriter.

• Support the underwriters in preparation of renewal and new business quotations proposals to cedants and brokers
•  Maintain Proper records of all businesses offers and transactions received and concluded
• Working directly with Underwriters to help manage and support their renewal and new business book.
• Update the treaty wording during and immediately after the annual treaty renewals.
• Ensure that the cover notes/slips/wordings signed are sent out to cedants and brokers promptly.
• Ensure that all treaty contracts assigned are renewed in the reinsurance system,
• Ensure that all M&DP are processed for all Non-Proportional treaties in the reinsurance system
• Attending to client enquiries, social and business functions and other related activities for overall marketing effectiveness.
• Assist Underwriter in the review of risk referral for approval/special acceptance.
• Ensure that cedants submit relevant underwriting information for risk review and pricing by the Underwriter.
• Liaising with brokers/cedants to ensure that annual accounts/statements such as premium adjustments, commission adjustments, loss participation, portfolio adjustments are rendered promptly and appropriately for both proportional and non-proportional treaties
• Review of quarterly statements and premium/claims bordereau.
• Issuance of debit/credit note as appropriate.
• Follow up with broker/cedants to ensure prompt payment of premium due to Africa Re.
• Generation of monthly production report and other reports that may be required from time to time.
• Assisting the finance team in the reconciliation of cedant and broker accounts and chasing outstanding amounts due from them.
• Any other duties that may be assigned.
• Applicants must also be Nationals of member States of Africa Re

MINIMUM QUALIFICATIONS AND EXPERIENCE

• Bachelor’s Degree or Equivalent in Insurance/Actuarial Science or /relevant field
• Minimum of 8 Years of relevant work experience in Underwriting, Technical Accounting or Claims fields in the Insurance and/or Reinsurance industry.
• Additional professional qualifications in insurance and working knowledge in French language shall be an added advantage.
• Relevant Working Exposure in a Multicultural Environment will be an added advantage.

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The Senior Underwriting Officer supports Underwriters in daily activities (processing) that provide services to customers. 

DUTIES / JOB DETAILS

The incumbent will carry out the following functions:

• Perform underwriting support activities associated with information gathering of all businesses, renewals, and mid-term portfolio review on behalf of the Underwriter.
• Support the underwriters in preparation of renewal and new business quotations proposals to cedants and brokers
• Maintain Proper records of all businesses offers and transactions received and concluded
• Working directly with Underwriters to help manage and support their renewal and new business book.
• Update the treaty wording during and immediately after the annual treaty renewals.
• Ensure that the cover notes/slips/wordings signed are sent out to cedants and brokers promptly.
• Ensure that all treaty contracts assigned are renewed in the reinsurance system,
• Ensure that all M&DP are processed for all Non-Proportional treaties in the reinsurance system
• Attending to client enquiries, social and business functions and other related activities for overall marketing effectiveness.
• Assist Underwriter in the review of risk referral for approval/special acceptance.
• Ensure that cedants submit relevant underwriting information for risk review and pricing by the Underwriter.
• Liaising with brokers/cedants to ensure that annual accounts/statements such as premium adjustments, commission adjustments, loss participation, portfolio adjustments are rendered promptly and appropriately for both proportional and non-proportional treaties
• Review of quarterly statements and premium/claims bordereau.
• Issuance of debit/credit note as appropriate.
• Follow up with broker/cedants to ensure prompt payment of premium due to Africa Re.
• Generation of monthly production report and other reports that may be required from time to time.
• Assisting the finance team in the reconciliation of cedant and broker accounts and chasing outstanding amounts due from them.
• Any other duties that may be assigned.
• Applicants must also be Nationals of member States of Africa Re

MINIMUM QUALIFICATIONS AND EXPERIENCE

• Bachelor’s Degree or Equivalent in Insurance/Engineering or /relevant field
• Minimum of 7 years of relevant practical work experience in Non - Life Underwriting department (specifically underwriting of special classes – Energy, Oil, Gas & Aviation in addition to the traditional classes of insurance) or Reinsurance in the Insurance and/or Reinsurance industry.
• Professional qualifications in insurance will be an added advantage.
• Relevant Working Exposure in a Multicultural Environment will also be an added advantage.
• Relevant Working Exposure in a Multicultural Environment will be an added advantage.

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The Life Claims and Underwriting Assistant would be responsible for managing claims processing for both treaties and facultative businesses for cedants in Anglophone West Africa. 

The post is at Support Staff Grade with possibilities of advancement in the organizational chart of the Corporation. Reporting directly to the Assistant Director, Underwriting & Marketing (Life Operations), the successful candidate would have the direct responsibilities for reviewing and processing all life business claims in the region.

As such, the duties of the Underwriting Assistant (Claims) shall comprise:

• Reviewing and processing claims
• Monitoring premium and claims payments
• Excellent Claims management to improve business relations
• Updating the cash call claims register with information for each claim received, and maintaining a claims monitoring register to know the status of claims internally
• Confirmation of reinsurance cover for the claim using the reinsurance bordereaux for both treaty and facultative business,
• Checking and confirming claims submitted with quarterly accounts,
• Processing of cash call claims (Group & Individual life) in the Life system,
• Preparation of the claim settlement form for approval and settlement,
• Collation of relevant claim documents required for seeking approval,
• Processing of outstanding loss reserves in the Life system,
• Reversing outstanding loss reserves after settlement,
• Statistical analysis of claims paid per benefit, cedant, scheme, country, etc for improving decision-making and scheme pricing.
• Attending to clients’ inquiries, social and business functions, and other related activities for overall marketing effectiveness.
• Assisting the finance team in the reconciliation exercise of cedants’ accounts and following up on outstanding amounts due from cedants, while also ensuring timely remittance of amounts due to Africa Re.
• Underwriting duties assigned by the supervisor
• Any other duties that may be required or assigned by the Management 

MINIMUM QUALIFICATIONS AND EXPERIENCE

• Bachelor’s Degree or Equivalent in Insurance/Actuarial Science or /relevant field
• Minimum of 3 – 5 years of relevant work experience in Life Underwriting, Claims, or Reinsurance in the Insurance and/or Reinsurance industry.
• Relevant Working Exposure in a Multicultural Environment will also be an added advantage.

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The Senior Life Underwriting Officer would be responsible for managing a portfolio of accounts (treaties and facultative) for cedants in Anglophone West Africa. 

The post is at the Local Professional Staff category with possibilities of advancement in the organizational chart of the Corporation. Reporting directly to the Assistant Director, Underwriting & Marketing (Life Operations), the successful candidate would have the direct responsibilities of underwriting and development of the assigned portfolio.

As such, the duties of the Senior Life Underwriting Officer shall comprise:

• Soliciting and negotiating for new and renewal of Reinsurance contracts
• Portfolio management and business relations
• Monitoring premium and claims payments
• Insurance Risk selection and assessment
• Assessment and Rating of Life Insurance risks
• Managing cedant relationships
• Compile Performance Progress report
• Monitoring the profitability of markets serviced and progress towards the achievement of corporate objectives in the assigned markets
• Assist the Life Underwriting Unit in coordinating activities of the Unit.
• Perform underwriting support activities associated with information gathering of all businesses, renewals, and mid-term changes.
• Manage Policy cessions in the system
• Manage Life Reinsurance Contract details in the system
• Renewal of contracts in the system
• Recording, verifying, and processing statements received from cedants, including premium closings, monthly or quarterly accounts, CAT excess of loss premiums, etc.
• Preparing renewal notices for facultative businesses and forwarding the same to cedants upon approval
• Maintain Proper records of all business offers and transactions received and concluded
• Ensure that all the treaties/facultative contracts are processed and the cover notes/slips/wordings signed and sent out to cedants as and when due
• Attending to client inquiries, social and business functions, and other related activities for overall marketing effectiveness.
• Assisting the finance team in the reconciliation exercise of cedants’ accounts and following up on outstanding amounts due from cedants, while also ensuring timely remittance of amounts due to Africa Re.
• Any other duties that may be required or assigned by the Management 

MINIMUM QUALIFICATIONS AND EXPERIENCE:

• Bachelor’s Degree or Equivalent in Insurance/Actuarial Science or /relevant field
• Minimum of 8 – 10 years of relevant work experience in Life Underwriting or Claims or Reinsurance in the Insurance and/or Reinsurance industry.
• Professional qualifications in insurance
• Relevant Working Exposure in a Multicultural Environment will also be an added advantage.