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Job SummaryResponsible for end-to-end underwriting for Umbrella Group Risk schemes
To implement company Underwriting Best Practice standards and IRA guidelines and regulations.
Periodic financial and non-financial reconciliation.
Job Description
Underwriting
- Ensure prompt registration and acknowledgement and onboarding of new umbrella schemes
- Prepare and issue debit and credit notes
- Prepare & issue cover notes and/or policy document as per onboarded risk
- Ensure effective renewal process – renewal invites; costings; debit and credit notes and issue renewal endorsement
- Ensure timely and effective reporting to internal stakeholders and brokers.
- Implement credit control policy and ensure that premiums are debited and collected as required
- Ensure daily reconciliation of premium collections
- Perform Monthly reconciliation for premiums under the Umbrella group schemes
- Verify and analyze client data according to company practices and procedures
- Maintain updated group risk and associated files & records as per Information Risk Management guidelines.
- Prepare and compile weekly & monthly underwriting reports enhanced with qualitative assessment; portfolio analysis, risk recommendation within the stipulated time
- Implement fraud strategies that actively identify and prevent fraud within the area through enhancing manual process or through system enhancement improvement.
- Collaboratively assess the loss ratios and report as per claims and underwriting best practice.
Customer Service & Stakeholder Engagement
- Adhere to the Query and complaint categorization & response standards to ensure client queries and complaints are dealt with timeously, efficiently and professionally
- Ensure corrective action is taken on complaints received by following correct procedure and input and provided feedback for root cause analysis & resolution.
- Adherence to Treating Customers Fairly(TCF) principles
- Provide superior customer service by proactively and timeously obtaining outstanding documentation to ensure complete efficient claims processing
- Provide regular feedback and escalate concerns to the Manager: Risk Mitigation where process gaps should be addressed.
- Ensure noted complaints are Updated in the complaint registers timeously
- Provide underwriting and claims technical support to operation, business development and accounts departments in all phases of policy life cycle.
- Have regular meetings to review statuses, claims and underwriting progress with all stakeholders
