Assistant Manager - Underwriting (Bancassurance)

Assistant Manager – Underwriting (Bancassurance)

 

Union Assurance is a leading corporate and one of the fastest growing entities in the Life Insurance industry backed by the strength and stability of John Keells Holdings PLC, one of Sri Lanka's largest conglomerates. For the 9th consecutive year, the company has received the GPTW certification as a ‘Best Employer Brand,' and in 2020 was awarded the ‘Global Employer Brand’ by the World HRD Congress.

 

The Job Role:

 

The person will be responsible to assist in policy underwriting for products sold and to support the Bancassurance Underwriting for increasing the amount of policy.

 

Principle Accountabilities:

 

  • Underwriting policy applications for Bancassurance in accordance with underwriting guidelines and procedures set by the company.
  • Conducting policy underwriting in accordance with the limits established in the delegation authority.
  • Assessing risk factors and determine policy eligibility based on the information provided in the application.
  • Assessing risk based on age, medical history, gender and then determine the cost of insurance.
  • Conducting investigations to verify information given in the application and identify any red flags or inconsistencies.
  • Communicating with IROs and policyholders to obtain additional information or clarify any doubts related to policy applications.
  • Ensuring that all underwriting decisions are made accurately and promptly to meet business objectives.
  • Maintaining detailed and accurate records of all underwriting decisions and processes.
  • Ensuring branches are operating within the scope & standards set by the organization as well as the stipulated guidelines of the Branch Financial Manual.
  • Maintaining detailed and accurate records of all underwriting decisions and processes.
  • Assisting the Manager in ensuring that all policies are underwritten accurately and efficiently.
  • Examining and process policy endorsement requests and make sure they are processed within the necessary time frame.
  • Ensure that all underwriting activities conform to relevant laws, regulations, and industry standards.
  • Participating in training programs to keep up-to-date with changes in underwriting guidelines and procedures
  • Contributing to the development of underwriting policies and procedures to ensure that they are current and relevant
  • Collaborating with other departments to guarantee smooth coordination of underwriting activities.
  • Acting as the main point of contact for underwriting queries and escalations.
  • Supporting in resolving underwriting issues and escalations and carry out any other duties assigned by the Manager

 

Qualifications and Experience

 

  • A Bachelor’s Degree in any discipline from a recognized University.
  • Full/ part qualification in recognized professional institute will be an added advantage.
  • Minimum 02 -03 years of experience in Senior Executive capacity with 8+ years of overall experience.
  • Sound knowledge on the underwriting processes with the understanding on competitor products.
  • Strong adaptability, Strategic ability with customer centricity and capacity to work in fast-paced environment.
  • Ability to work independently and in a team-oriented environment.

The selected candidate for the above position will be entitled to an attractive remuneration package. Applicants who are interested are encouraged to apply on or before 28th May 2024.

Union Assurance PLC
13 Jun 2024