BanBancassurance Underwriter – EBIL – ()
Description
Equity Bank is one of the region’s leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern and inclusive financial services that maximize their opportunities. With a strong footprint in Kenya, Uganda, Tanzania, Rwanda, South Sudan and DRC Congo, Equity Bank is now home to over 12 million customers – the largest customer base in Africa. Currently the Group is seeking additional talent to serve in the role of Bancassurance Underwriter – EBIL.
Job Purpose:
The Bancassurance Underwriter serves as a specialized risk analyst embedded within EBKL’s Credit Department and Bancassurance head office operations. This hybrid role bridges the bank and insurance perspectives evaluating credit risk and non-credit risk on insurance linked proposals, advising on optimal underwriting terms across general, life, and health insurance, enabling effective risk decision making for EBIL management, and facilitating cross-sell opportunities between banking and insurance products.
Key Responsibilities
1. Credit & Insurance Risk Analysis
- Conduct robust credit assessments for insurance-related proposals in alignment with bank credit underwriting standards
- Evaluate insurance-specific risk factors (medical, morbidity, mortality, health, pre-existing conditions) for general, life, and health products.
- Utilize both credit and insurance underwriting frameworks to determine risk acceptability and propose mitigation strategies.
2. Underwriting Strategy & Terms Advisory
- Advise on underwriting terms, including coverage limits, pricing, exclusions, and conditional acceptance tailored for EBIL’s bancassurance lines
- Collaborate with EBKL’s credit committee and EBIL management to align insurance terms with joint risk appetite and bancassurance target portfolio.
3. Reporting & Decision Support
- Prepare and present regular, management-ready reports summarizing risk assessments, underwriting decisions, emerging trends, and recommendations for EBIL’s executive team.
- Highlight cross-selling opportunities, emerging risk concerns, and portfolio performance metrics relevant to bancassurance. 4. Cross-Selling Enablement
- Identify and recommend insurance products suitable for banking clients based on credit data and client profiles to drive cross-sales.
- Train and support bank staff and EBIL sales agents on underwriting considerations, policy features, and how to present them within banking interactions.
5. Interdepartmental Collaboration
- Act as a liaison between EBIL, EBKL’s credit, risk, compliance, and operations teams, ensuring aligned decision-making and smooth workflows.
- Ensure KYC, AML, regulatory, and internal policy standards are upheld across both credit and insurance functions.
Qualifications
Qualifications, Experience
- Bachelor’s degree in finance, business, insurance, actuarial science, economics, or a related field.
- Professional certifications AIIK, ACII , insurance underwriting, credit risk, actuarial, or risk management) preferred.
Key Competencies & Skills
- Excellent analytical, numeracy, and risk assessment skills; ability to interpret financial statements and medical/underwriting data.
- Strong communication and reporting abilities to convey complex findings clearly to non-specialist stakeholders.
- Sound judgement, attention to detail, and confident decision-making under tight deadlines.
- Relationship-building and negotiation skills to interface effectively with credit risk, sales, and insurance colleagues.
- Proficient in risk modeling tools, underwriting systems, and standard office software (e.g., Excel, SPSS, databases).
- Familiarity with bank and insurance regulations, KYC/AML, internal credit/underwriting procedures, and compliance.
