• Application Deadline: Tue, 15 Nov 2022 00:00:00 GMT
• Position: Head, Life Assurance Underwriting


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 10 - 12 years


• Location Lagos


• Job Field Insurance 
  

Job Description

Coronation Insurance is a leading West African full line insurance company offering a diverse range of products and services covering life, general and special risk businesses. Founded in 1958, Coronation Insurance Plc is licensed to underwrite all classes of insurance, such as fire and special perils, goods-in-transit, all risk insurance etc.

Job title: Head, Life Assurance Underwriting

Location: Lagos

Reports to: Executive Director, Technical Operations

Supervises: Underwriting team

Key Responsibilities

• Monitor underwriting trends in the market for insurance products.


• Review and monitor underwriting guidelines and standards to ensure they are aligned with the organization’s business strategies and underwriting policies.


• Provide guidance and direction to the team in underwriting decisions.


• Negotiate with reinsurers to achieve fair decisions for both the organization and customers.


• Make strategic decisions about situations that are affected by the principles of insurance to support business objectives


• Ensure reinsurance procedures are aligned with organization’s financial objectives and goals


• Develop underwriting standards to ensure alignment with the organization’s guidelines


• Evaluate potential issues arising out of the principles and practice of insurance, the potential impact and recommends solutions to resolve these.


• Develop and establish financial and credit management policies and systems by determining organization’s financial needs and credit risk exposure threshold.


• Evaluate the changes required to insurance products and services in response to changes in consumer expectations, company strategy, legislation, regulations and ethical standards environmental and societal changes, and the impact of improved technology


• Determine and review the policies and procedures for the processing of new and existing risks in own area of business in line with own organisation’s strategy.


• Develop appropriate and effective underwriting decisions with reference to the law, regulations, and other relevant factors


• Develop underwriting process improvements and implements these in line with organisational strategy and market trends


• Assess underwriting function efficiency using management information and Key Performance Indicators (KPIs)


• Issue notices, status reports, and billings to reinsurers and brokers, with a focus on complex programs and portfolios


• Analyze options available and makes appropriate and effective underwriting decisions with reference to the law, regulations, and other relevant factors


• Analyze data on aggregation exposures and identifies action nec