Underwriting Officer at Coronation Insurance Plc

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. Coronation Insurance is licensed to underwrite all classes of insurance, such as fire and special perils, goods-in-transit, all risk insurance and life insurance for both Individuals and Corporate entities.

We are recruiting to fill the position below:

Job Title: Underwriting Officer

Location: Lagos
Employment Type: Full Time

Responsibilities
Underwriting Strategy:

• Provide support in the design and implementation of the Company’s underwriting strategy

Risk Management:

• Ensure implementation of the Company’s risk appetite and pricing strategy to achieve its strategic objectives

Product development:

• Participate in defining appropriate pricing for all key products in all channels and risk classes to ensure that the Company meets its stated strategy of underwriting to a profit in all products and across all distribution channels
• Provide support in setting optimal product strategies to maximize cross-selling opportunities

Underwriting Operations:

• Support the monitoring of the underwriting portfolio ensuring adherence to agreed target business levels, financial limits, historical claims patterns and underwriting controls
• Provide support in setting the premiums charged for coverage and negotiate with the client or the broker to ensure the best fit for all parties
• Provide support in establishing and communicating underwriting profit goals and other measurements including loss ratio, new business development, policy count, account retention, etc.
• Oversee the use of analytics and technology to deliver better underwriting outcomes.
• Monitor and assess the effectiveness of underwriting guidelines, underwriting pricing tools, and pricing strategies and make recommendations for enhancements.

Education and Experience

• Bachelor’s Degree in Insurance, Accounting or any related discipline.
• Professional certification such as CIIN or relevant qualification
• Minimum of 3-5 years’ relevant experience in insurance industry
• Relevant experience in life underwriting

Competencies and Skill Requirements:

• Good understanding of trends and recent developments in insurance industry.
• Extensive knowledge of MS Office tools.
• Excellent problem-solving skills
• Good strategic orientation, creativity and innovation.
• Good stakeholder management skills
• Demonstrated commitment to ethical standards and high level of integrity.
• Very good knowledge of company’s insurance policies
• Good risk management skills
• Strong understanding of insurance principles and practices
• Strong understanding of legal obligations and regulatory compliance
• Excellent mathematical and statistical skills
• Excellent collaboration skills
• Strong knowledge of claims management
• Strong knowledge of loss adjustment

Application Closing Date
Not Specified

Method of Application
Interested and qualified candidates should send their Resume and Credentials to: [email protected] using the Job Title as the subject of the mail.