Overall Job Purpose
- Responsible
for end-to-end underwriting across credit life & Group Risk schemes
- To
implement company Underwriting Best Practice standards and IRA guidelines
and regulations.
- Periodic
financial, actuarial, and non-financial reconciliation.
Responsibilities
- Timely
Quote for Group Risk products within approved guidelines and approval
limits
- Ensure
prompt registration and acknowledgement and onboarding of new 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 and receipting of premium collections and subsequent
accounting for commissions, taxes etc
- Participate
in Business Development through end-to-end tender process directly and/or
through brokers.
- Perform
Monthly reconciliation for both premiums and commissions under
underwriting
- Verify
and analyse 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.
Reinsurance liaison
- End-to-end
processing of medical underwriting including broker and client engagement
- To
prepare reinsurance bordereaux end-to-end
- To
review underwriting special cases to effectively discharge Underwriting
Best practice guidelines. Resolutions to be minuted/documented on email.
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.
- Update
the query and 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 etc
with insurers and all stakeholders
- Attend
industry engagements on innovation and best practices to help improve
performance, and quality standards
- Query
and complaint Case Management & resolution matrix to support
Customer Experience Help Desk & relationship managed business.
Special work
requirements:
- Strong
negotiations and influencing skills Knowledge of business acquisition and
retention
- Oral
and written communication skills Level:
- Attention
to detail
- Basic
numeracy
- Analytical
skills
- Advanced
Microsoft Excel; SQL; PowerPoint
Qualifications
- BSC
Actuarial or BCom (Insurance Option)
- Professional
qualification in Insurance (ACII, FLMI or AIIK)
- At
least 3 years’ experience in insurance underwriting and claims processing
in credit life, Group Risk and/or Retail Life.
- Extensive
experience in analysis of financial and legal documents and data analysis.
- Articulate
the role’s end to end processes including applicable risks and controls
and how this meets the corporate strategy.
- Managing
the facilitation of internal and external auditors/actuaries to ensure
complete and efficient audit process and follow up implementation of audit
recommendations.
Focus on people and
culture
- Individual
& team behavior aligned to the Absa Way Drivers for above average
score on Absa colleague experience index and positive work environment for
colleague engagement
- To
motivate high performance & the Absa way through non-monetary &
monetary reward & recognition in a timely, specific and frequent
manner.
- MI
monitoring & evaluation of performance and throughput.
- Track
performance output by daily throughput and TAT on processes, query &
complaint resolution.
- As
a minimum, to participate in employee volunteering community programs
Education
- Further
Education and Training Certificate (FETC): Business, Commerce and
Management Studies (Required)
How to Apply
