Background on East Africa Reinsurance: East Africa Reinsurance Company is a leading reinsurance company based in Nairobi, Kenya.
The company was the first privately owned reinsurer to be established in Kenya and commenced operations on 1st January 1995.
The company was established through a joint initiative of leading insurance companies in Kenya and the International Finance Corporation (IFC), the private sector arm of the World Bank Group.
East Africa Re (EARe) is a company that understands the local business and at the same time is international in character with strong rating from Global Credit Rating (GCR) and AM Best.
The company’s Vision is ‘To be the risk partner of choice’ in the markets in which it transacts, and its mission is ‘To provide quality risk solutions, excellent service and enhanced value to all the stakeholders’.
Position Purpose: Underwriting Assistant - Life Reinsurance Operations
This position is responsible for carrying out daily administrative responsibilities of the Life Reinsurance department, for assumed and ceded reinsurance treaties.
This includes offering quality services to clients and carrying out day-to-day activities in the department which will meet or exceed our clients’ expectations.
Position Summary
Position Title: Underwriting Assistant - Life Reinsurance Operations
Position Profile: assisting in underwriting, treaty wordings, treaty administration, marketing, and training
Department: Reinsurance/Technical
Reporting To: Manager (Life)
Resource Persons: GM Finance, CEO
Duties and Responsibilities
Life Reassurance Underwriting
- Ensure prompt assessment of referred special and sub-standard risks.
- Ensure prompt communication of risk acceptance terms to the client.
- Assist Life Manager in analysing risk reinsurance proposals, determine policy terms on the basis of actuarial, statistical and background information.
- Treaty Wordings
- Assist Life Manager in drawing up contracts in consultation with cedents/reassurance brokers acting for cedent
- Assist Life Manager to review contract wordings when necessary in consultation with cedents/reassurance brokers acting for cedent
- Coordinate preparation and submission of quarter/year end information as required for completing the company financial reporting.
- Maintaining databases for treaty bordereaux, definite certificates, reassurance advices and reassurance certificates.
- Preparing treaty reassurance certificates
- Preparing and confirming treaty statements of accounts.
- Processing of claim payments and cash calls.
- Handling retrocession matters including preparing statement of accounts, claim recoveries etc
- Maintaining premium claims and retrocession registers.
- Compiling Life Business statistics as required by the regulator, rating agencies and for internal analysis.
- Training interns on matters regarding Life reassurance.
- Liaise with the Life Manager and finance department to ensure prompt payment of outstanding balances to cedents including cash calls.
- Any other duties as assigned by the Life Manager
- Organizing and taking minutes in Life department sub-committee meetings.
- Assisting the Life Manager in targeted and structured visits to clients.
- Assisting the Life Manager in conducting client training in our markets
- Assisting the Life Manager in product development for clients
- Promoting company Core Values and supporting company standards.
- Participating in opportunities to broaden personal and professional skills including industry – related courses/activities
- Participating in various support sub-committee meetings as directed by the Life Manager and reporting on matters regarding Life department.
- Active participation in the company’s Corporate Social Responsibility Committee.
Experience
- Minimum 2 years solid experience in reinsurance, ideally gained from working in a Life outwards reinsurance Department.
- Knowledge of Life Underwriting, treaty wordings ( proportional and non‐proportional) and facultatives
- The incumbent must have a University degree preferably in Actuarial Science, Mathematics, Commerce ( Insurance Option)
- Professional qualification in Insurance e.g. CII or IIK – minimum 5 papers or equivalent will be an added advantage
Strong analytical and problem solving abilities;
- Strong verbal and written communication skills
- Strong interrelationship skills
- Strong commitment to customer service and the organization.
- Good IT skills including advanced skills/knowledge of Microsoft Office packages
- A well-organized and self-driven person
- Collaborative approach with good interpersonal skills to work in a team and alone as required
- Self-starter and ability to work well as part of a team
- Ability to learn new things quickly
- Self-motivated with time management skills to successfully deliver full results within set deadlines and within budget.
- Comfortable working with people of all levels.
- Ability to quickly understand the mission, vision and values of an organization
- Ethical behavior, honest and transparent
When working at EARe, you can expect to work with inspiring and creative colleagues.
You will have ample opportunities for growth and career development as we value continuous learning.
We offer you a challenging position in which you will be rewarded for excellent performance.
How to Apply
Are you interested in this position and do you meet the minimum requirements?
Apply by sending an e-mail with your CV and a convincing cover letter to careers@eastafricare.com.
The application deadline is 28th July, 2015.
Due to the urgency in filing this role and high volume of applications received
Only shortlisted candidates on a first come first serve basis will be contacted.
Do you have questions about this vacancy?
Visit our website at www.eastafricare.com.
Please do not hesitate to contact us by e-mail or telephone: careers@eastafricare.com or 020 4443588 / 0733 623737 / 0728 111041.
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