Underwriting and Claims Officer

Company Description

Strathmore Insurance Brokers Limited is an Insurance Brokerage firm located in Lusaka. The company provides a range of insurance brokerage services. The company is dedicated to providing fast, reliable, and convenient insurance services to help clients achieve their goals.

JOB DESCRIPTION

POSITION: Underwriting and Claims Officer

COMPANY: Strathmore Insurance Brokers Limited

REPORTS TO: Chief Operations Officer/ Chief Executive Officer

LOCATION: Lusaka

JOB SUMMARY

The Underwriting and Claims Officer is responsible for assessing insurance applications, evaluating risks, determining appropriate terms and conditions, and handling claims efficiently. The role involves ensuring that underwriting decisions align with company policies and that claims are processed promptly and fairly to maintain client satisfaction and minimize company exposure.

KEY RESPONSIBILITIES

1. Underwriting Responsibilities

Review and evaluate insurance applications to assess risk exposure and determine acceptability.
Analyze supporting documents such as medical reports, financial statements, and past claims history.
Determine appropriate terms, conditions, and premium rates in line with company guidelines.
Prepare and issue policy documents, endorsements, and renewal notices.
Ensure underwriting practices comply with regulatory and company standards.
Provide technical support to the sales team on product offerings and risk assessment.
Monitor and review the performance of underwritten policies and recommend adjustments where necessary.

2. Claims Management Responsibilities

Receive and review insurance claims to determine validity and policy coverage.
Investigate and assess claims through communication with clients, adjusters, and other stakeholders.
Ensure proper documentation and supporting evidence are collected for claims processing.
Liaise with insurance companies and clients to facilitate prompt claims settlement.
Negotiate claim settlements and handle disputes professionally.
Maintain detailed records of all claims and underwriting activities.
Provide regular reports on claims trends and risk exposure.

3. Client and Stakeholder Management

Communicate effectively with clients, insurers, and service providers to resolve issues.
Educate clients on policy terms and conditions.
Handle client complaints and escalate issues where necessary.
Build and maintain strong relationships with insurance companies and other partners.

4. Compliance and Reporting

Ensure adherence to company policies and industry regulations.
Maintain accurate records and ensure data integrity in the underwriting and claims system.
Prepare and submit regular reports on underwriting performance, claims ratios, and emerging risks.
Identify areas of improvement in underwriting and claims processes and recommend solutions.

KEY PERFORMANCE INDICATORS (KPIs)

Turnaround time for underwriting and claims processing.
Accuracy of underwriting decisions and claims assessments.
Customer satisfaction ratings.
Claims ratio and loss adjustment expense.
Compliance with regulatory requirements.

QUALIFICATIONS AND EXPERIENCE

Minimum in Insurance or a related field.
Professional certification (e.g., CII, COP) is an added advantage.
Minimum of 3 years of experience in underwriting and claims management in the insurance industry.
Strong understanding of insurance products and market dynamics.

KEY SKILLS AND COMPETENCIES

• Excellent analytical and decision-making skills.
• Strong negotiation and communication skills.
• Attention to detail and accuracy.
• Ability to work under pressure and meet deadlines.
• Proficiency in insurance software and Microsoft Office applications.
• Strong customer service orientation.

All applications in writing should be accompanied by up-to-date Curriculum Vitae and supporting documents (Note: do not send originals) with the names and addresses of three referees, one of which should be the last or current employer. The applications must be submitted in a sealed envelope indicating the position being applied for.

Applications should be addressed and submitted to the physical address or email below by 11th April 2025:

The Chief Executive Officer

Strathmore Insurance Brokers Limited

14 Chaholi Road,

Rhodespark

Lusaka

Zambia

Email: [email protected]

For any information contact us on +260 211 256 490

NOTE: ONLY SHORTLISTED CANDIDATES WILL BE CONTACTED.