UNDERWRITER – LIFE BUSINESS
Madison Life Assurance Kenya Limited, a subsidiary of Madison Group Limited, is a well-known provider of life assurance, group schemes and pension administration in Kenya. The Group also provides through two other subsidiaries, general insurance underwriting as well as fund management services.
The Company is recruiting for the position of Underwriter reporting to the Underwriting Manager. The job holder will be based at its Head Office in Madison House, Nairobi.
Key Responsibilities
- Servicing (Reconcile, cost and renew) Group Life Schemes.
- Ensuring quotations, policy issuance/amendments, renewals are done within the set customer service benchmarks.
- Approving and ensuring quotations/new business are placed as per guidelines
- Ensuring timely conversion of new business and institute measures for timely policy document delivery.
- Analyze all classes of life risks accepted and ensure proper quarterly cessions.
- Prompt claim recovery from reinsurers.
- Facilitate Facultative reinsurance agreement and placement of risks exceeding the treaty capacity.
- Submission of closing and accounting documents to Finance Department for settlement of premium and recovery of claims from reinsurers.
- Prepare reinsurance underwriting and claims statistics for reinsurance renewals to facilitate negotiation of treaty renewal terms in line with the business needs and regulatory guidelines.
- In liaison with the Underwriting Manager, File treaties and other Reinsurance Arrangements timely with IRA.
- Maintain efficient communication lines between the company and reinsurance partners.
- Setting up and ensuring that reinsurance in Life Management System (LMS) works effectively and accurately.
- Monitoring and maintaining data integrity and accuracy in the system.
- In liaison with the Underwriting Manager, Co-ordinate co-insurance arrangements whenever it arises
- Prepare periodic management reports on Underwriting and Reinsurance/Coinsurance.
Qualifications and Core Competencies
- University Degree in Insurance or any other related field.
- At least 4 years’ relevant work experience.
- Diploma in Insurance (AIIK/ACII)
- Technical knowledge of Insurance/Reinsurance operations and regulations.
- Ability to work well in a team.
Qualified candidates are requested to forward their CVs to the Group Human Resources Manager at: [email protected] on email not later than 17th February, 2025. Madison Life Assurance Kenya Limited is an equal opportunity employer, committed to diversity and inclusion in the workplace. All qualified applicants will receive fair consideration for employment based on merit, skills and experience.
