Underwriter 2

You are as unique as your background, experience and point of view. Here, you'll be encouraged, empowered and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll have new and exciting opportunities to make life brighter for our Clients - who are at the heart of everything we do. Discover how you can make a difference in the lives of individuals, families and communities around the world.

Job Description:

Decides whether applications for insurance cover for should be accepted; assesses the risk according to the likelihood of a claim being made following established risk classification principles within delegated approval authority limit.

Main Responsibilities

• Gathers and orders requirements using information from various sources (such as the Application Form, Medical Examination and other medical results, information provided by the advisors, MID, previous policies, etc.) to look for possible impairments (health, disease, occupation, hobbies, residence in dangerous local/foreign countries, financial circumstances, moral hazards, lifestyle, PEP/high risk etc.) that can increase the person's insurance risk.
  

• Assesses the degree of risk represented by the proposed insured and the owner after weighing up all the risk factors; decides whether to approve or deny the coverage within approval authority limit; makes recommendations for those over approval authority limit; recommends appropriate mortality rating for substandard cases; recommends decline, postpone and NPW decisions and refers them to higher underwriter.
  

• Completes and updates our NB Systems, such as UW Assessment, UW Requirements, UW decision screens of WMS , IUM and ING during application evaluation and processing.
  

• Provides information and support to advisors and other sales personnel through emails, SMS, and answering telephone inquiries to help them fulfill their field underwriting responsibilities in selecting risks and submitting underwriting information. Provides score to advisors for both positive and negative performances in WMS.
  
  5 Refers malpractices and misrepresentations to immediate superior and to Compliance immediately upon discovery -
  

• Reports impairment codes of substandard, Not as Applied For and Rejected cases to MIB PLIA System.
  

• Calculates retention/reinsurance limits and prepares cession forms for reinsurance cases.
  

• Renders assistance as maybe required to attain the department business objectives in supporting company drives and contests.
  
  Typical reporting relationship
  
  Reports to Supervisor/Manager, Underwriting
  
  Minimum typical education
  
  4-year College Degree Course
  
  Minimum typical experience
  
  2 years to 4 years -
  
  Core Professional/Technical Competencies Required
  

  Abilities:

  
  Basic skills in exercising judgment on and appraisal of underwriting cases
  Limited practical experience in applying underwriting techniques
  Limited practical experience in relating to advisor

  Knowledge:

  
  Use of the following systems: WMS, Ingenium,
  Auto Appraisal, IUM, PRISM, MIB, DocuVu, Medical
  
  System, Lotus Notes, MS Word, Excel, Powerpoint)
  
  Knowledge of insurance & underwriting principles
  Knowledge of medical aspects, anatomy, physiology,
  symptoms/signs and prognosis of diseases, medical
  
  abbreviations and terminology, normal values for
  
  commonly encountered laboratory tests, medical
  
  procedures, etc.), physical appearance & codes in the system
  
  Knowledge of nonmedical aspects of underwriting
  (occupation, foreign residence, lifestyle, alcohol, drugs,
  
  immigration, etc.)
  
  Knowledge of legal implications affecting underwriting
  Knowledge of financial underwriting principles, insurable
  interest, anti-selection
  
  Knowledge of insurance products, riders and policy
  contract provisions
  
  Knowledge of customer service principles
  Use of the different Underwriting Manuals
  Signature Verification
  Typing skills 40 wpm
  Reinsurance principles & preparation of cession forms
  Post Issue Underwriting
  Core Soft/Transferable Competencies
  
  Collaborates Effectively
  Communicates Confidently
  Focuses on the Customer
  Takes Accountability
  Understands our Business
  Development/Training to support Role Competencies
  
  Relevant Courses - Professional/Technical Competencies
  
  Basic UW training Course & Reading Program
  LOMA 280, Principles of Insurance
  ALU 101 or LOMA Insurance Administrtion
  LOMA 290, Insurance Company Operations
  LOMA 311, business Law for Financial Services Professional
  ALU 201
  

  Job Category:

  
  Underwriting - Individual
  

  Posting End Date:

  
  30/12/2024