Following a recommendation of the African Development Bank (AfDB), the African Reinsurance Corporation (Africa Re) was established on 24 February 1976 in Yaounde, Cameroon. An international Agreement was signed by the Plenipotentiaries of 36 member States of the Organization of African Unity (OAU) and the AfDB with the aim of reducing the outflow of forei...
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Responsibilities
- 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
Academic Qualifications
Minimum Qualification and Experience
- Bachelor’s Degree or Equivalent in Insurance/Actuarial Science or /relevant field
- Must have 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.
Main Competencies:
Competencies and Additional Requirements:
- Good command of both written and spoken English
- Good knowledge of Life Assurance, Underwriting, Claims, Reinsurance and Retrocession.
- Good knowledge of Health Insurance Laws and Regulations
- Adequate knowledge of some actuarial concepts such as the present values of a series of payments, compound interest and amortization schedule.
- Excellent IT skills in MS Office products (Word, Excel, Office 365, SharePoint, PowerPoint, and Outlook) are required
- Strong interpersonal skills, detailed oriented and customer service focused
- Self-motivated
- Good supervision and reporting skills
- Strong problem-solving skills
- Willingness and passion to learn and work.
- Ability to work under pressure, without close supervision and within established timeframes.
- Ability to multitask and manage change.
- Excellent problem-solving skills (i.e., conceptual, and analytical thinking).
- High level of Integrity and proven sense of responsibility.
- Good team player (i.e. working collaboratively with colleagues to achieve organizational goals)
Additional Requirements:
Applicants must also be:
- Nationals of one of the 42 member States of Africa Re.
- A good working knowledge of the second language (French) shall be an added advantage.
Salary & Benefits
The successful candidate shall have the following benefits:
- Competitive Basic Salary on the Corporation’s Support Staff Grade Level.
- Variable Pay (Annual Performance Bonus).
- Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the Employer).
- Children's Education Subsidy for each child up to 26 years (maximum 4 children).
- Medical Cover for staff and family.
- Housing Allowance.
- Dependency Allowance.
- Transport Allowance
- Inflation Adjustment (Cost of Living Allowance), which may increase or decrease depending on the economic situation, is paid in local currency.
go to method of application »
Duties and Job Details
- 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
Main Competencies:
- Good command of both written and spoken English
- Good knowledge of Life Assurance, Underwriting, Claims, Reinsurance and Retrocession.
- Good knowledge of Health Insurance Laws and Regulations
- Adequate knowledge of some actuarial concepts such as the present values of a series of payments, compound interest and amortization schedule.
- Excellent IT skills in MS Office products (Word, Excel, Office 365, SharePoint, PowerPoint, and Outlook) are required
- Strong interpersonal skills, detail-oriented, and customer service focused
- Self-motivated
- Good supervision and reporting skills
- Willingness and passion to learn and work.
- Ability to work under pressure, without close supervision, and within established timeframes.
- Ability to multitask and manage change.
- Excellent problem-solving skills (i.e., conceptual and analytical thinking).
- High level of Integrity and proven sense of responsibility.
- Good team player (i.e., working collaboratively with colleagues to achieve organizational goals)
Academic Qualifications
Minimum Qualifications and Experience:
- Bachelor’s Degree or Equivalent in Insurance/Actuarial Science or /relevant field
- 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.
Additional Requirements:
Applicants must also be:
- Nationals of one of the 42 member States of Africa Re.
- A good working knowledge of the second language (French) shall be an added advantage
Salary & Benefits
The successful candidate shall have the following benefits:
- Competitive Basic Salary on the Corporation’s Support Staff Grade Level.
- Variable Pay (Annual Performance Bonus).
- Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the Employer).
- Children's Education Subsidy for each child up to 26 years (maximum 4 children).
- Medical Cover for staff and family.
- Housing Allowance.
- Dependency Allowance.
- Transport Allowance
- Inflation Adjustment (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.
go to method of application »
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
Academic Qualifications
Minimum Qualifications and Experience
- Bachelor’s Degree or Equivalent in Insurance/Actuarial Science or /relevant field
- Minimum of 5 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.
Main Competencies:
Competencies and Additional Requirements:
- Good underwriting skills in property and casualty lines of business;
- Good knowledge of appropriate insurance and reinsurance principles and practice;
- Good industry knowledge;
- Ability to quickly build good and sustainable relationship and effectively interact with internal and external business partners;
- Good oral and written communication, including Presentation skills;
- Strong interpersonal skills, detailed oriented and customer service focused
- Analytical and problem solving skills, with the ability to manage and prioritize multiple tasks;
- Ability to work with less supervision;
- Willingness to learn and work long hours.
- Ability to multitask and manage change.
- Works collaboratively with colleagues to achieve organizational goals; solicits input and is willing to learn from others.
- Establish and maintains effective working relationships in a multicultural, multi-ethnic environment.
- Good planning and reporting skills;
- Organization and time management skills;
- Discipline, reliable, with high Integrity;
- Ability to work under pressure and to adapt to a changing environment;
- Excellent skills in MS Office (Word, Excel, PowerPoint, and Outlook) are required Knowledge of other business-related software such as Sics will be an added advantage.
Additional Requirements:
Applicants must also be:
- Fluent in English and/or French and having a working knowledge in the second language shall be an added advantage.
Salary & Benefits
The successful candidate shall have the following benefits:
- Competitive Basic Salary on the Corporation’s Support Staff Grade Level.
- Variable Pay (Annual Performance Bonus).
- Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the Employer).
- Children's Education Subsidy for each child up to 26 years (maximum 4 children).
- Medical Cover for staff and family.
- Housing Allowance.
- Dependency Allowance.
- Transport Allowance
- Inflation Adjustment (Cost of Living Allowance), which may increase or decrease depending on the economic situation, is paid in local currency.
go to method of application »
Duties / Job Details
The incumbent will carry out the following functions:
- Reviewing and underwriting individual risks for designated markets/clients, with recommendations to supervisor, in line with the Corporation’s underwriting guidelines.
- Growing of premiums from the designated markets/clients – top and bottom-line growth. This involves chasing for new businesses and pushing for increased shares on renewable businesses.
- Pricing of risks and preparation of quotations to cedants/brokers.
- Preparation (and presentation during WARO monthly meetings) of unit’s performance reports(monthly/quarterly) or other from Business Objects reporting module. Compliance with reporting deadlines is paramount.
- Accurate processing of premiums in SICS reinsurance system.
- Maintenance of online facultative business documents file register.
- Assistance in negotiation of facultative business contract terms/conditions with brokers/clients and making recommendations for supervisor approval.
- Building strategic partnerships with key brokers/retrocessionares/cedants for placement of special and mega risks.
- Conducting marketing activities for designated markets/clients to build client relationships and source for new businesses as well as maintaining reports.
- Preparation of renewal notices for facultative businesses and forwarding the same to cedants/brokers to achieve a 99% renewal retention for existing businesses.
- Assisting the finance team on reconciliation issues of cedants/brokers and chasing for outstanding balances whilst also ensuring timely remittance of amount due to them.
- Chasing for statements for closed businesses and ensuring the outstanding closings report is updated for future follow up.
- Manage and ensure risks are within the corporation’s underwriting capacity and liaising / retroceding risks that exceed the capacity to A rated securities for top line growth.
- Timely and accurate processing of Retro premiums and ensuring that finance remits them on time to the Retrocessionaires or brokers.
- Prompt response to customer requests per recommended turnaround times in the internal Service Level Agreements
- Ensuring all the special treaties/facultative contracts are processed in the SICs reinsurance system and the cover notes/slips/wordings are signed timeously and sent out to cedants and brokers.
- Training of clients and subordinates to build competencies.
- Carrying out any other roles assigned on ad-hoc basis within the regional office.
- Applicants must also be Nationals of member States of Africa Re
Academic Qualifications
Minimum Qualifications and Experience:
- Bachelor’s Degree or Equivalent in Insurance/Engineering or /relevant field
- Minimum of 8 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.
Main Competencies:
Competencies and Additional Requirements:
- Strong technical knowledge and experience in all the classes of non-life insurance business. (underwriting).
- Competencies in Underwriting of Energy, Oil, Gas and Aviation classes of business is paramount.
- Good knowledge and exposure to insurance and reinsurance markets.
- Practical knowledge of all types of reinsurance treaty and facultative arrangements.
- Very good knowledge of facultative business contract wordings and clauses.
- Stakeholder management skills particularly with key re/insurance partners such as reinsurance brokers and retrocessionaires.
- In-depth knowledge of appropriate insurance and reinsurance principles practices and laws as applicable to different lines of business.
- Strong analytical skills.
- Excellent oral and written communication.
- Capacity for analyzing, synthesizing and reasoning.
- Negotiation and presentation skills.
- Problem-solving abilities with strong decision-making capability.
- Keen attention to detail with an ability to retain strategic direction.
- Ability to work with tight deadlines and handle volumes efficiently.
- Ability to work without close supervision and within established timeframes.
- Good use of MS Office applications (Word, Excel, PowerPoint, and Outlook) and knowledge of integrated business-related software will be an added advantage.
- Practical knowledge of SICs reinsurance management system will be an added advantage.
- Ability to train subordinates.
Additional Requirements:
Applicants must also be:
- Fluent in English and/or French and having a working knowledge in the second language shall be an added advantage.
Salary & Benefits
The successful candidate shall have the following benefits:
- Competitive Basic Salary on the Corporation’s Support Staff Grade Level.
- Variable Pay (Annual Performance Bonus).
- Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the Employer).
- Children's Education Subsidy for each child up to 26 years (maximum 4 children).
- Medical Cover for staff and family.
- Housing Allowance.
- Dependency Allowance.
- Transport Allowance
- Inflation Adjustment (Cost of Living Allowance), which may increase or decrease depending on the economic situation, is paid in local currency.
Method of Application
Use the link(s) below to apply on company website.
Note
- Africa-Re is an equal opportunity employer and offers a good working environment commensurate with international organizations.
- The Corporation reserves the right to appoint at the advertised grade level or at any other level that best suits the successful candidate's profile, qualifications, and experience.
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