Actuaria/Insurance and Underwriting Jobs

CIC Actuarial Assistant Job in Kenya

Actuarial Assistant

 
Purpose of the Job

To provide actuarial analysis to CIC Life to ensure the company is always aware of its liability position, product performance and provide expertise in product development and pricing.

Duties & Responsibility

• Preparation of valuation data
• Assist in the performance of statutory and non-statutory actuarial valuation of the life business
• Determine the level of profitability and performance of new and existing products
• Product development and pricing of life insurance products
• Statistical analysis of the life business, pension and medical business
• Assist in the forecast of actuarial liabilities of the life business
• Market intelligence
• Analysis of industry statistics
• Monitor per policy expense of products
• Monitor mortality experience to determine sufficiency of premiums
• Liaising with the external actuary on all actuarial aspects and compliance to the insurance act
• Work closely with the underwriting department to determine the adequacy of premium rates
• On-going Data clean up and system audit

Requirements
Academic Qualifications

• BSc. Actuarial Science
• At least 3 Professional Actuarial papers completed

Professional Qualifications

• At least 3 Professional Actuarial papers completed

Relevant Work Experience

• Total of at least 1 year working experience the insurance industry

Skills/ Knowledge

• Excellent in statistical analysis
• Knowledge of statistical packages (eg. SASS)
• Excellent use of excel
• Analytical skills
• Problem solving skills with attention to detail
• Progress in Actuarial exams
• Proficient knowledge on the insurance industry in Kenya
• Excellent report writing and presentation skills

If you meet the above requirements and consider yourself up to the challenge, please email your application and a copy of your CV clearly indicating on the subject of your email the job Ref No.

 For example: Ref : Application for Actuarial Assistant Position to:

The Group Human Resources Manager
CIC Insurance Group Ltd

Strictly through Email to: recruitment@cic.co.ke

The application should reach us by close of business on 26th April 2013. 

Please note only shortlisted candidate will be contacted. 

If you do not hear from us by 15th May 2013consider your application unsuccessful.

Engineering Underwriting Job in Kenya

African Reinsurance Corporation

Engineering Underwriter (PS 2)

The African Reinsurance Corporation (Africa Re), a pan-African International Financial Institution, announces a vacancy for the position of Engineering Underwriter in the Nairobi Regional Office.

A. Main Duties / Responsibilities

This position is for an Engineering Underwriter who will manage a portfolio of accounts (treaties and facultatives) for cedants in East Africa.

B. Detailed Duties/Responsibilities

The successful candidate will have the direct responsibility of underwriting and developing the portfolio he/she is in charge of and shall report to the Regional Director.

The duties of the Underwriter shall comprise :

• Negotiation for new and renewal of Reinsurance contracts;
• Portfolio management and business relations;
• Monitoring premium and claims payments;
• Insurance Risk Surveys and assessments;
• Assessment and Rating of Engineering risks;
• Managing relationships with Cedants;
• Compiling Performance Progress reports.

C. Key Performance Indicators

• Premium production in line with budget and growth potentials;
• Good claims management;
• Good relationship with cedants;
• Underwriting profitability in the class of business written;
• Market/ Product expansion;
• Reliability of forecast made on premium, claims and underwriting results;
• Accuracy of data provided to management.

D. Technical Competencies Required For This Position

• Applies the core principles of insurance to everyday situations;
• Demonstrates an understanding of standard policy wordings, extensions and limitations;
• Applies knowledge of what is needed for an insurance contract to be legally valid;
• Demonstrates an understanding of underwriting capacity;
• Knows and applies organizational underwriting philosophy;
• Identifies data sources which can be used for pricing decisions and factors that can affect pricing;
• Provides complete and accurate quotations for risks and apply the underwriting policy and guidelines;
• Demonstrates awareness of the data that indicates how an underwriting portfolio is performing for own area of business;
• Knows how claims notification information is used in the claims handling process for own area of business;
• Manages the claims handling process to achieve timely settlement and minimize leakages;
• Advanced technical competence in reinsurance & retrocession;
• Good skills in business software tools: Word, Excel, PowerPoint, RMS;
• Very good technical knowledge of reinsurance and retrocession.

E. Minimum Qualifications and Experience

Applicants not older than 40 years and should hold the following qualification:

• First University degree in relevant field (Engineering) plus Masters plus 5 years post qualification relevant qualitative work experience with emphasis on risk surveys, underwriting/rating engineering risks and Reinsurance underwriting;

Or

• First University degree in relevant field (Engineering) plus full professional qualification plus 5 years post qualification relevant qualitative work experience with emphasis on risk surveys, underwriting/rating engineering risks and Reinsurance underwriting;

Or

• First University degree in relevant field (Engineering) plus 9 years post qualification relevant qualitative work experience with emphasis on risk surveys, underwriting/rating engineering risks and Reinsurance underwriting.

F. Additional Requirements For Candidates For This Position:

Applicants must be:

• Nationals of member States of Africa Re;
• Additional professional qualifications would be an added advantage;
• Bilingualism (English/French) would be an added advantage;
• Relevant work experience in a Reinsurance company or in the department of Reinsurance of an insurance company would be an added advantage.

G. Other Information

Salary and other conditions of service are competitive and comparative to what is obtainable in similar international organizations.

H. Procedure

Interested candidates for this position are requested to complete and submit the employment form online.

Closing date for submission of applications: 3rd May 2013