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

1.  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. 

2.    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.

3.  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.

4.  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 -

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

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

8.    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:

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